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CRYPTOCURRENCY

Bitcoin Investments New Attraction For Indians, Say Experts :

NOW A DAYS WE ARE WELCOMING LOT'S OF INNOVATION TO OUR LIFE ,INNOVATION IN REGARDS OF FINANCIAL  WE ALL ARE  FOCUSING LOT'S ON DIGITIZATION,TRANSACTION IS DONE DIGITALLY ..& THESE TRANSACTION ARE IN FORM OF VARIOUS CURRENCY JUST LIKE $ & ₹ ONE MORE TYPE OF CURRENCY IS ADDED IN THEIR FAMILY THAT IS BITCOIN , BECOMING THE FASTEST GROWING DIGITAL CURRENCY IN WORLD IN LAST FEW YEAR.THE GROWTH RATES OF THIS CURRENCY IS FAR MORE THAN ANY OTHER CURRENCY. 



(Experts involved or associated with the Bitcoin industry, maintain that it has emerged as a new attraction for Indians who are keen to augment their wealth, notwithstanding calls issued by the Supreme Court to the Reserve Bank of India (RBI) to put in place effective regulatory mechanisms to prevent money laundering in any form.
  • According to leading crypto-currency exchanges in India, crypto-currency is gaining popularity, primarily as a financial asset.
  • Many bitcoin startups in India believe remittances are a huge potential market for them
  • Bitcoin transactions are more economical than digital transfers.
  • Bitcoin allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Despite an 8.9 percent drop in 2016, India has retained its position as a top receiver of bitcoin-related remittances worldwide, as per a World Bank report.
  • Many bitcoin startups in India believe remittances are a huge potential market for them
  • Bitcoin transactions are more economical than wire transfers.
 To regulate the flow of bitcoin, a Supreme Court bench headed by Chief Justice Dipak Misra recently sent notices to the ministries of finance, law and justice, information technology, market regulator SEBI and the RBI to frame an effective mechanism.
Currently, the RBI regards crypto-currencies as a violation of the country's existing foreign exchange norms. It has largely maintained a measured, cautious and vigilant approach about popularizing the use of bitcoin..)SOURCE REPUBLIC TV ..[http://www.republicworld.com/s/12708/bitcoin-investments-new-attraction-for-indians-say-experts.]

ONE OF THE FASTEST GROWING BITCOIN EXCHANGE COMPANY ,ETHXPAY HAS ALSO COMMENTED ON BITCOIN FUTURE  ,CO FOUNDER ,OF ETHXPAY Mr subharansh rai has given his views regarding bitcoin future Ethxpay co-founder Subharansh Rai said, "Bitcoin makes payments fast and inexpensive. Payment portals, like banks, levy transaction charges on beneficiaries. With bitcoin, there are no overhead costs or extra charges, making it a more appealing form of payment as workers get paid closer to real wages."

India's reluctance to encourage mainstream bitcoin usage is more pronounced in the light of developments taking place in other parts of Asia.
Japan continues to be a trendsetter for bitcoin use and South Korea is also showing a marked interest in block chain, especially after electronics manufacturer Samsung announced in May that it was exploring corporate use for the software powering Ethereum. China and Russia view the digital coin business with sceptism and consider it to be illegal.
Rai said, "India is already three years behind USA, Japan and Hong Kong when it comes to crypto-currency adoption. We believe this technology will be a game-changer, probably even bigger than what the internet did for us in the 90s. The current concerns by Reserve Bank India only accelerate our need to engage with authorities and regulators to generate awareness about block chain, which powers the use of bitcoin and other crypto-currencies."
Investing in bitcoin isn't a get-rich-quick method. Investors must spend time educating themselves about bitcoin and the technology behind it, much like real estate or stock market," said Rai..
source
:http://www.republicworld.com/s/12708/bitcoin-investments-new-attraction-for-indians-say-experts
http://www.abplive.in/business/bitcoin-investments-new-attraction-for-indians-say-experts-605609?ani

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