CRYPTOCURRENCY? CRYPTO BAN IN INDIA? IS IT LEGAL OR NOT?

INTRODUCTION:-

 

In terms of economics.

Cryptocurrency, crypto-currency, or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.

 

Cryptocurrencies are used primarily outside existing banking and governmental institutions and are exchanged over the Internet. So the government institutions are not getting involved  in that transaction of money that you make you buy a crypto coin.

 

In simple terms we can say that ,

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. So that can be a little problem that comes in dealing with cash. Many cryptocurrencies are decentralized networks based on blockchain technology 

a distributed ledger enforced by a disparate network of computers. So there are huge chances that people while using that money have all the records of it. You can’t hide it. Because when you use it. You have to cash. Then that money. Come into existence. 

Well all around the world many countries have even allowed exchanges in bitcoins like the EU (European Union.) USA., Japan, South Korea. But in India it’s not Illegal.Let’s talk about it.

 

Is Cryptocurrency legal In India or not?

The crypto currency is not Illegal in India.but the relationship of India and some new law never runs smoothly so. From the famous RBI ban on Cryptocurrency in 2018 but in 2021 the SC said the ban on crypto currency is not legit and does not makes any sense.

  well with a 64 million trading volume of bitcoin in 2021 and India hold a very wide range of that . Well it must be thought about many countries have legalised crypto exchanges a long time ago. And that was helpful for the financial growth of the country.

Some of the best crypto exchange in India are coinbase, unocoin, coinDCX, binance 

 

Well the mind that was behind the government is that they want to ban all other crypto currency trade in India and to introduce the new cryptocurrency  of our own. But 

The freedom of trade and commerce give every one of us the right to trade however we like. And even there are many flaws in that ban too. It was even clear to every one there are several platforms through which people from India can trade and even.Many VPNs are there that can do the same even with the government having a clue.

 

Conclusion:- 

Cryptocurrency is a great step toward financial freedom and growth of India. We Invest so little because we are afraid. So many people in India who Invest in the stock market or currency pairs. We should allow crypto trade and should educate people more about it.

 

WRITTEN BY:

Nimesh Rohilla

 

Leave a Reply

Articles

Get Three Best Assignment Management Tools For Students

Management assignments include various cycles that make an understudy restless. From drafting notes to organizing, understudies frequently forget about time. In like manner, the extreme scholastic tension constrains them to look for master assist with loving modern promoting assignment help. Nonetheless, the situation has now changed. Understudies currently utilize numerous computerized devices and applications to […]

Read More
Articles

Let’s Keto Gummies #1 Rating Supplement For Burn Fat for Energy not Carbs | Increase Energy Naturally[Spam Or Legit]

Lets Keto Apple Gummies • Product Name – Lets Keto Apple Gummies • Side Effects – No Major Side Effects (100% Natural) • Main Benefits – Fat & Weight Loss, Increase Energy • Category – Lose Weight & Fat Burning Supplement • Results – In 1-2 Months • Customer Reviews – 5/5 • Price – […]

Read More
Articles Jobs LexCliq Services

Dolly Parton CBD Gummies

👉DEAL IS LIVE CLICK HERE TO PURCHASE NOW👈 ➢ Product Name— Dolly Parton CBD Gummies ➢ Composition— Natural Organic Compound ➢ Side-Effects— NA ➢ Availability— Online ➢ Rating — ⭐⭐⭐⭐⭐ ➢ Official Website (Sale Is Live) — >>> Click Here to Buy Dolly Parton CBD Gummies from the Official Website..! CLICK HERE TO VISIT THE […]

Read More