RBI’s Warning a Failure for Indian Investors, India is the biggest importer of Gold and Gold is not only considered a good omen in India but traditionally it’s been the oldest means of investment. But with changing trends and high growth in cryptocurrency, involvement in investing in Gold has slowed down. Bitcoin alongwith other cryptocurrencies have been considered digital gold and due to this reason billions are invested in cryptocurrency by the investors.
As per the report of Bloomberg; Indian households are having 25000 ton Gold, where in cryptocurrency investments have increased from 200 million Dollar to 40 Billion Dollar.
Twisting turn in investing in Crypto from Gold is that growing Individuals of India are investing by putting some 1 Million rupees in Dogecoin, Bitcoin and Ether and being lucky enough in investing at fruitful times. Their decision of investing in Cryptocurrency rather than Gold took them to heights. So the Youth involved in such investments are countering the benefits of investing in Cryptocurrency. They involve in trading with Bitcoin, saywhenitwas of dollar 50,000 at that moment they did future profit bookings. Whereas with lowering down of value of Bitcoin, the Youth had again done purchasing (buying) of them.
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Easy and Transparent Investments
Young population involved in trading with cryptocurrencies; highlighted the fact that Crypto is more transparent than Gold, so investing in it is much easier than investing in Gold or in property and not only this, one gets faster returns as well. Investment duration is also not so long. Therefore the youth is attracted towards investments in Cryptocurrency.
Crypto Investors
Crypto trading in India involves 15 Million; which means 1.5 crore around population is trading in Cryptocurrency. Whereas in America 23 Million or can say 2.3 Crore population is involved in this trading and in UK just 2.3 Million. Maximum youth is actively participating in investing and trading in Crypto as an age group (18-35). As per to the World Gold Council’s report; the youth group which is 35 and less are more inclined towards investing in Cryptocurrency rather than in Gold.
(RBI’s Warning a Failure for Indian Investors)
Decision of Supreme Court came in Haste
Investment in Crypto is much easier than that in Gold. As for investing in Crypto one just has to go online and then buy Crypto rather than verifying it as one did in Gold.
Apart from this; since last year, rapid increase in investments in Crypto is cause of the decision of Supreme Court regarding Cryptocurrencies trading. Supreme Court had reversed the decision of Reserve Bank and removed Ban from Crypto trading. Although this currency has still not got legal recognition by Reserve Bank of India.
But as of now; it seems Indian population is willing to take risk by increasingly adopting this trading, despite of the fact that Cryptocurrency has not got any legal framework yet.
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