Cryptocurrency craze in India: On the one hand preparations for ban in India, on the other hand crypto trading craze is skyrocketing.

Business Desk, Amar Ujala, New Delhi

Published by: Deepak Chaturvedi
Updated to Thursday, 16 December 2021 05:21 PM IST

Summary

Wazir Trading Volume at Record Level: WazirX shares information on social media that its trading volume has increased by 1735%. The trading volume rose to $ 43 billion, the exchange said.

Cryptocurrency trading

Cryptocurrency trading
– Photo: Social Media

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Range

On the one hand the government has prepared a bill regarding cryptocurrency in the country. Warnings have been issued to investors from Prime Minister Narendra Modi to the RBI governor. On the other hand the popularity of this volatile business in the country is increasing. The craze for crypto among Indians can be gauged from the fact that the trading volume of WazirX, the largest crypto exchange in the country, has multiplied.

WazirX trading volume will increase massively

Sharing information on social media, WazirX reported that its trading volume increased by 1735 percent. The trading volume rose to $ 43 billion, the exchange said. That is, within a year, the businesses of buying and selling such value were held by exchange. This is an increase of 1735 percent compared to 2020.

The largest crypto exchange in the country

It should be noted that crypto trading is done through exchanges. Just as the stock exchange needs to trade in the stock market, so does the cryptocurrency transaction. WazirX is a huge fan favorite among Indian investors. Its popularity can also be easily estimated from this increase in its trading volume throughout the year. According to a previous report, 15 crore investors in India are registered with crypto exchanges in the country.

Cryptocurrency is purchased this way

Cryptocurrency is a type of digital cash system that is connected to a personal computer chain and built on computer algorithms. It has no control over any country or government. Its popularity is growing as many countries have legalized it. There are two ways to buy cryptocurrency, but today the easiest and most popular way is to buy them through crypto exchange. There are hundreds of cryptocurrency exchanges operating around the world. Speaking of India, many exchanges like WazirX, Zebpay, CoinSwitch Kuber, Coin DCX Go are operating here. Digital currencies can be purchased worldwide, including Bitcoin, Ethereum, Tether and Dogcoin.

Cryptocurrency exchanges are open 24 hours a day

It is very easy to buy and sell Bitcoin and other cryptocurrencies in the country. The most important thing is that all these crypto exchanges are open around the clock for purchase. The process of buying and selling cryptocurrency through them is also very easy. To invest in crypto trading and the rupee, you need to register with one of the exchanges. For this, after signing up on the Exchange site, after completing your KYC process, the money will be transferred to the wallet and these digital currencies can be purchased.

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