Cryptocurrency Market in India!

in #bitcoin6 years ago

I think most of you guys know that the Reserve Bank of India has banned all Entities from Converting Cryptocurrency to Indian Rupees. Long story short the Indian Crypto Community is waiting for a ray of Sunshine.

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The most frustrating thing about all of this fiasco is that the Reserve Bank of India is giving no proper explanation about why they deem Cryptocurrency as a Risk.

Investor Protection !!

That is the only remark they are giving. Apparently, they think they are saving our Money from possible Scams or any other form of Harms. These types of explanations just pisses me off even more.

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Right now I am kind off feeling helpless since our Government isn't taking any proper measures to make us feel at ease. I just wish our Government declares Cryptocurrencies a Legal Tender. Ok that is a bit too much but I feel there should be open access to Crypto and Trading of Crypto to everyone.

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If 1 door is close 1000 doors will open so don't worry about crypto currency in India.

Yes I know that but it certainly is stressful.

China is a good example. Even though they banned Bitcoin and Exchanges people of China are still buying and selling Bitcoin.

@arunava they feared about the power of Cryptocurrency they know
cryto will replace bank in upcoming year. that why they doing this shit.

To be honest before I knew about Cryptocurrency I was ok with all the charges the Banks took from us. I never gave it a special thought.

But now I feel like I am getting robbed by Banks. I did a Calculation and found our that if you make a fixed deposit of 1 lakh INR in a bank account for a year. The interest you get will be less than all the Fees they cut off you plus there is TDS.

@arunava that's a way they earn from robbing us. they made huge profits from us every years. our money also not secured in bank. everyday many scams are exposed by news channels.

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