May 18, 2017
by JP Buntinx
With a lot of money pouring into Bitcoin, digital assets, and tokens, it is evident things will only get better from here on out.
India remains a critical region for Bitcoin adoption right now. Even though the local central bank advises consumers are cautious when dealing with Bitcoin, consumers are disregarding the warnings. In fact, it appears nearly 2,500 people invest in Bitcoin every single day. That is a rather surprising number, although it may only be a hint of things to come. Things are looking quite good for Bitcoin in India, that much is evident.
To put this story into perspective, the numbers related to the ZebPay exchange. The company mentions they add about 2,500 people every single day. This does not mean they are all active users, though. However, it does highlight a growing demand for Bitcoin in India, which is a positive development. ZebPay has always been one of the more popular Bitcoin exchange platforms in the country. It does not appear that the situation will change anytime soon.
India Is An Important Region For Bitcoin And Cryptocurrency
Such a significant growth should not be overlooked by any means, though. Albeit 2,500 users per day may sound like nothing, it is quite impressive regardless. Some companies struggle to even get to 2,500 users in total. India is a key region for Bitcoin and cryptocurrency, that much is certain. Moreover, it also appears a lot of people are downloading the company’s mobile app, which is good news. Mobile finance is quite popular in India after all.
The Reserve Bank of India remains a bit cautious of Bitcoin. In fact, the institution has warned consumers multiple times about using virtual currencies. Bitcoin and other currencies are not issued by the central bank, which makes them a risky investment. Then again, other types of traditional investments are not more or less risky by any means. The RBI can’t control Bitcoin, which will always remain a big problem in their opinion.
This news comes at an interesting time for cryptocurrency overall. With a lot of money pouring into Bitcoin, digital assets, and tokens, it is evident things will only get better from here on out. As more and more consumers grow aware of what Bitcoin has to offer, demand will undoubtedly increase over time. These are very exciting times for cryptocurrency in general. India continues to see impressive growth, and other regions around the world show more interest as well. It will be interesting to see how the ecosystem looks a few years from now.