• Latest
  • Trending
Bitcoin. Image credits - Onov3056

Millennials pull crypto out of the shadows in India

October 18, 2021
National Fuel Pass

National Fuel pass : Statement to the Public

August 11, 2022
Australia vs Sri Lanka (Photo: Twitter)

Australian cricketers donate tour prize money to Sri Lanka

August 11, 2022
Samsung unveiled its new Galaxy Z Flip 4 and Z Fold 4 phones on Aug 10, 2022. (Photo: Samsung)

5 things to know about Samsung’s new Galaxy Z Flip 4 and Galaxy Z Fold 4 foldable smartphones

August 11, 2022
Ceylon Electricity Board to introduce new billing methods

CEB will be able to supply power only for a month

August 11, 2022
Gotabaya Rajapaksa

Gotabaya Rajapaksa to return to Sri Lanka in 3 months as options run out

August 11, 2022
Covid-19 representational image. Fusion Medical Animation @fusion_medical_animation / Unsplash

Covid-19 deaths and cases update in Sri Lanka

August 11, 2022
Electricity

Power cut schedule today; Aug 11 in Sri Lanka

August 11, 2022
Gotabaya Rajapaksa addressing the nation

Sri Lanka government asks Thailand to grant entry to former president Gotabaya Rajapaksa

August 10, 2022
Vicissitudes of India-Sri Lanka strategic relations 

Vicissitudes of India-Sri Lanka strategic relations 

August 10, 2022
Bank of Thailand

Thailand hikes rate for first time since 2018 to tame hot inflation

August 10, 2022
Sri Lanka Customs

Message from Sri Lankan Customs for travellers arriving in Sri Lanka

August 10, 2022
President Gotabaya Rajapaksa

Gotabaya Rajapaksa expected to fly to Thailand

August 10, 2022
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact
Thursday, August 11, 2022
No Result
View All Result
NewsIn.Asia
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    National Fuel Pass

    National Fuel pass : Statement to the Public

    Australia vs Sri Lanka (Photo: Twitter)

    Australian cricketers donate tour prize money to Sri Lanka

    Ceylon Electricity Board to introduce new billing methods

    CEB will be able to supply power only for a month

    Gotabaya Rajapaksa

    Gotabaya Rajapaksa to return to Sri Lanka in 3 months as options run out

    Covid-19 representational image. Fusion Medical Animation @fusion_medical_animation / Unsplash

    Covid-19 deaths and cases update in Sri Lanka

    Electricity

    Power cut schedule today; Aug 11 in Sri Lanka

    Gotabaya Rajapaksa addressing the nation

    Sri Lanka government asks Thailand to grant entry to former president Gotabaya Rajapaksa

    Vicissitudes of India-Sri Lanka strategic relations 

    Vicissitudes of India-Sri Lanka strategic relations 

    Bank of Thailand

    Thailand hikes rate for first time since 2018 to tame hot inflation

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    Bank of Thailand

    Thailand hikes rate for first time since 2018 to tame hot inflation

    Image: WhatsApp

    WhatsApp’s new update makes it easier to avoid your friends

    Tik Tok

    The top TikTok trends to try this week

    Snapchat. Image credits - May Gauthier @maygauthier / Unsplash

    Snap launches tools for parents to monitor teens’ contacts

    FILE PHOTO: A 3D printed Google logo is seen in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

    Thousands of users around the world report Google outage

    Beijing deployed fighter jets, warships and ballistic missiles in what analysts have described as practice for a blockade of Taiwan. (Photo: AFP file)

    China continues military drills around Taiwan

    China’s rise shapes US Foreign Policy:  Noam Chomsky Says

    China’s rise shapes US Foreign Policy:  Noam Chomsky Says

    Wickremesinghe reiterates Sri Lanka’s commitment to the One-China policy

    Wickremesinghe reiterates Sri Lanka’s commitment to the One-China policy

    Similarities and differences between the Taiwan and Ukraine crises

    Similarities and differences between the Taiwan and Ukraine crises

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    Marvel has unleashed the first look teaser of Black Panther 2.

    Black Panther Wakanda Forever: Marvel pays emotional tribute to Chadwick Boseman

    Stranger Things

    Netflix confirms ‘Stranger Things’ spinoff and play

    Kamal Haasan's Vikram is on a rampage.

    Kamal Haasan’s Vikram is the highest-grossing film in Singapore, UK and UAE

    Harry Potter and the Philosopher's Stone

    ‘Harry Potter and the Philosopher’s Stone’ celebrates 25 magical years

    Salman Khan

    Plot to kill Bollywood actor Salman Khan revealed

    Shah Rukh Khan's Jawaan, to be directed by Atlee, to scheduled for June 2023 release. (Photo: Twitter)

    Shah Rukh Khan announces new film ‘Jawaan’

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    ‘KGF Chapter 2’

    ‘KGF Chapter 2’ becomes 3rd-highest-grossing Hindi film

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Cheeseburger. Image credits - Alamy / BBC

    McDonald’s puts up price of cheeseburger for first time in 14 years

    WHO declares rapidly spreading monkeypox outbreak a global health emergency

    WHO declares rapidly spreading monkeypox outbreak a global health emergency

    Sushmita Sen. Image credits - Getty Images

    Sushmita Sen: Why ‘gold digger’ jibe caused outrage

    Honey. Image credits - Mariana Ibanez / Unsplash

    7 unique health benefits of honey

    alcohol

    Alcohol is never healthy for people under 40, study finds

    world’s happiest countries in 2022

    List of world’s happiest countries in 2022

    Emirates

    Emirates statement on operations at London Heathrow

    The main aim of the team is to enable them to collect microplastics in deeper water and provide information to analyse marine pollution in real time. (File Pic)

    Chinese scientists develop robot fish that gobble up microplastics

    Bicycle. Image credits - Febiyan @febiyanr / Unsplash

    10 essential biking rules every cyclist should know

    Luggage. Image credits - Caroline Selfors @cselfors / Unsplash

    London’s Heathrow tells airlines to stop ticket sales as it caps passengers

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Samsung unveiled its new Galaxy Z Flip 4 and Z Fold 4 phones on Aug 10, 2022. (Photo: Samsung)

    5 things to know about Samsung’s new Galaxy Z Flip 4 and Galaxy Z Fold 4 foldable smartphones

    Image: WhatsApp

    WhatsApp’s new update makes it easier to avoid your friends

    Snapchat. Image credits - May Gauthier @maygauthier / Unsplash

    Snap launches tools for parents to monitor teens’ contacts

    FILE PHOTO: A 3D printed Google logo is seen in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

    Thousands of users around the world report Google outage

    After buying Twitter, Elon Musk has now said he will buy Coca-Cola to put the 'cocaine' back in.

    Starlink: Why is Elon Musk launching thousands of satellites?

    Elon Musk offers to buy Twitter for $41 billion

    Twitter sues Elon Musk over $44 billion contract breach

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    National Fuel Pass

    National Fuel pass : Statement to the Public

    Australia vs Sri Lanka (Photo: Twitter)

    Australian cricketers donate tour prize money to Sri Lanka

    Ceylon Electricity Board to introduce new billing methods

    CEB will be able to supply power only for a month

    Gotabaya Rajapaksa

    Gotabaya Rajapaksa to return to Sri Lanka in 3 months as options run out

    Covid-19 representational image. Fusion Medical Animation @fusion_medical_animation / Unsplash

    Covid-19 deaths and cases update in Sri Lanka

    Electricity

    Power cut schedule today; Aug 11 in Sri Lanka

    Gotabaya Rajapaksa addressing the nation

    Sri Lanka government asks Thailand to grant entry to former president Gotabaya Rajapaksa

    Vicissitudes of India-Sri Lanka strategic relations 

    Vicissitudes of India-Sri Lanka strategic relations 

    Bank of Thailand

    Thailand hikes rate for first time since 2018 to tame hot inflation

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    Bank of Thailand

    Thailand hikes rate for first time since 2018 to tame hot inflation

    Image: WhatsApp

    WhatsApp’s new update makes it easier to avoid your friends

    Tik Tok

    The top TikTok trends to try this week

    Snapchat. Image credits - May Gauthier @maygauthier / Unsplash

    Snap launches tools for parents to monitor teens’ contacts

    FILE PHOTO: A 3D printed Google logo is seen in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

    Thousands of users around the world report Google outage

    Beijing deployed fighter jets, warships and ballistic missiles in what analysts have described as practice for a blockade of Taiwan. (Photo: AFP file)

    China continues military drills around Taiwan

    China’s rise shapes US Foreign Policy:  Noam Chomsky Says

    China’s rise shapes US Foreign Policy:  Noam Chomsky Says

    Wickremesinghe reiterates Sri Lanka’s commitment to the One-China policy

    Wickremesinghe reiterates Sri Lanka’s commitment to the One-China policy

    Similarities and differences between the Taiwan and Ukraine crises

    Similarities and differences between the Taiwan and Ukraine crises

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    Marvel has unleashed the first look teaser of Black Panther 2.

    Black Panther Wakanda Forever: Marvel pays emotional tribute to Chadwick Boseman

    Stranger Things

    Netflix confirms ‘Stranger Things’ spinoff and play

    Kamal Haasan's Vikram is on a rampage.

    Kamal Haasan’s Vikram is the highest-grossing film in Singapore, UK and UAE

    Harry Potter and the Philosopher's Stone

    ‘Harry Potter and the Philosopher’s Stone’ celebrates 25 magical years

    Salman Khan

    Plot to kill Bollywood actor Salman Khan revealed

    Shah Rukh Khan's Jawaan, to be directed by Atlee, to scheduled for June 2023 release. (Photo: Twitter)

    Shah Rukh Khan announces new film ‘Jawaan’

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    ‘KGF Chapter 2’

    ‘KGF Chapter 2’ becomes 3rd-highest-grossing Hindi film

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Cheeseburger. Image credits - Alamy / BBC

    McDonald’s puts up price of cheeseburger for first time in 14 years

    WHO declares rapidly spreading monkeypox outbreak a global health emergency

    WHO declares rapidly spreading monkeypox outbreak a global health emergency

    Sushmita Sen. Image credits - Getty Images

    Sushmita Sen: Why ‘gold digger’ jibe caused outrage

    Honey. Image credits - Mariana Ibanez / Unsplash

    7 unique health benefits of honey

    alcohol

    Alcohol is never healthy for people under 40, study finds

    world’s happiest countries in 2022

    List of world’s happiest countries in 2022

    Emirates

    Emirates statement on operations at London Heathrow

    The main aim of the team is to enable them to collect microplastics in deeper water and provide information to analyse marine pollution in real time. (File Pic)

    Chinese scientists develop robot fish that gobble up microplastics

    Bicycle. Image credits - Febiyan @febiyanr / Unsplash

    10 essential biking rules every cyclist should know

    Luggage. Image credits - Caroline Selfors @cselfors / Unsplash

    London’s Heathrow tells airlines to stop ticket sales as it caps passengers

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Samsung unveiled its new Galaxy Z Flip 4 and Z Fold 4 phones on Aug 10, 2022. (Photo: Samsung)

    5 things to know about Samsung’s new Galaxy Z Flip 4 and Galaxy Z Fold 4 foldable smartphones

    Image: WhatsApp

    WhatsApp’s new update makes it easier to avoid your friends

    Snapchat. Image credits - May Gauthier @maygauthier / Unsplash

    Snap launches tools for parents to monitor teens’ contacts

    FILE PHOTO: A 3D printed Google logo is seen in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

    Thousands of users around the world report Google outage

    After buying Twitter, Elon Musk has now said he will buy Coca-Cola to put the 'cocaine' back in.

    Starlink: Why is Elon Musk launching thousands of satellites?

    Elon Musk offers to buy Twitter for $41 billion

    Twitter sues Elon Musk over $44 billion contract breach

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
NewsIn.Asia
No Result
View All Result
Home Around South Asia

Millennials pull crypto out of the shadows in India

Editor by Editor
October 18, 2021
in Around South Asia, India
Reading Time: 4 mins read
11 0
A A
Bitcoin. Image credits - Onov3056

Bitcoin. Image credits - Onov3056

Share on WhatsApp

Oct 18 (Bloomberg) – In hundreds of India’s small cities and towns, a generation that has hardly had any experience with stocks and bonds is heading straight for Bitcoin, Ethereum, Cardano and Solana. The average age of the 11 million users of CoinSwitch Kuber, a cryptocurrency trading app that didn’t exist 18 months ago, is 25, and 55% of them are from outside large metropolises like New Delhi or Mumbai. 

Widespread acceptance of digital tokens by millennials and Generation Z is helping the industry step out of the shadows, a far cry from 2018 when the cofounders of a crypto exchange were briefly in police custody for daring to put up a kiosk in a Bangalore shopping mall where people could swap their Bitcoin for money. Now trading is all very public, and highly visible. CoinSwitch Kuber has signed up a popular Bollywood youth icon for an ad campaign with the tagline, “Kucch toh badlega” — something will change.

For similar articles, join our Whatsapp group for the latest updates. – click here

ADVERTISEMENT

For CoinSwitch, which started out as a an aggregator of best real-time prices for digital assets around the world, something already has. In 2018, the fledgling venture couldn’t play on its home turf because India’s monetary authority had instructed banks not to entertain customers who dealt in virtual currency. It was only in March last year that the Supreme Court overturned the ban. CoinSwitch, whose app was released in June, acquired 11 million customers in 16 months. Investors took notice of the startup: It recently became the first in the country to raise money from Silicon valley venture capitalist Andreessen Horowitz, at a valuation of $1.9 billion. 

Having gone mainstream in such a short time, the industry itself is demanding to be regulated. “We’ve decided that we’ll show our faces,” says Ashish Singhal, one of CoinSwitch’s three cofounders. “Even if regulation harms our business in the short run, it’s better than being forced to operate in a gray area with little certainty and not much room for growth.”

READ: Amitabh Bachchan, Ranveer Singh to pitch bitcoin ahead of gold for Diwali

Fears of being outlawed have swirled since last year’s court order that gave the dying industry new life. But that risk is now receding. While Beijing last month announced, in most unequivocal terms, its resolve to root out all transactions in virtual currencies, the consensus opinion is that New Delhi will hesitate to take such an extreme step. That’s partly because the relationship between private business and the state is different in India, where politicians need corporate donations to fight expensive elections, and citizens don’t like being told by the government whether tutoring, online gaming — or owning crypto assets — is bad for them. 

But in part the industry’s confidence stems from the belief that policy makers have been persuaded of benefits to the economy from blockchain-based innovation. iSPIRT, an influential Bangalore-based think tank, is advising India to embrace the growing field of decentralized finance to close a $250 billion funding gap for small and midsize firms, and build a Wall Street for all on the internet, as Balaji Srinivasan, formerly the chief technology officer at Coinbase Global Inc., the largest U.S.-based crypto exchange, describes it. 

“We, as a country, missed out on internet 1.0,” says Singhal. “We gave world-class talent to Google and Microsoft, including their current CEOs, but we didn’t create those titans. With blockchain, we can build some global giants.”

Still, mass adoption of crypto trading continues to make authorities — especially the central bank — uncomfortable. CoinSwitch isn’t the only firm employing celebrity endorsement to drum up business ahead of Diwali, the traditional gold-buying season. According to Bloomberg News, officials recently met with Amitabh Bachchan to inform the Bollywood superstar of their concerns over his brand-ambassador deal with CoinDCX, another Indian crypto exchange. 

The current speculative fervor could use some tamping, though it’s too late to try anything more draconian. Putting an entire asset class off limits won’t be fair to Generation Z investors. They have “grown up on the internet,” says Sharan Nair, CoinSwitch’s chief business officer. “Many are techies like us who like to solve problems in the crypto world by contributing code. What can they do as shareholders of a bank whose website they don’t like?”

About 83% of urban Indians are aware of digital currencies, while 16% actually own them, according to a survey by data analytics firm Kantar. Many more want to — the draw of crypto is now half as powerful as that of mutual funds, a product with which older generations have a far deeper familiarity. That offers a glimpse of what investor portfolios will look like in future: A mix of digital assets and traditional financial products. Even without the reflected light of Bollywood stars, India’s crypto industry isn’t going dark again.

Subscribe to our Whatsapp channel for the latest updates from around the world

Tags: BitcoinCryptoCryptocurrencyMillennials

Related Posts

National Fuel Pass
Around South Asia

National Fuel pass : Statement to the Public

August 11, 2022
Australia vs Sri Lanka (Photo: Twitter)
Around South Asia

Australian cricketers donate tour prize money to Sri Lanka

August 11, 2022
Ceylon Electricity Board to introduce new billing methods
Around South Asia

CEB will be able to supply power only for a month

August 11, 2022
Gotabaya Rajapaksa
Around South Asia

Gotabaya Rajapaksa to return to Sri Lanka in 3 months as options run out

August 11, 2022
Covid-19 representational image. Fusion Medical Animation @fusion_medical_animation / Unsplash
Around South Asia

Covid-19 deaths and cases update in Sri Lanka

August 11, 2022
Electricity
Around South Asia

Power cut schedule today; Aug 11 in Sri Lanka

August 11, 2022
  • Electricity

    Power cut schedule today; Aug 11 in Sri Lanka

    48953 shares
    Share 19594 Tweet 12233
  • Registration open for National Fuel Pass

    6542 shares
    Share 2654 Tweet 1620
  • Foreign Exchange Rates from Central Bank of Sri Lanka; USD, GBP, EUR, SGD, CAD

    1352 shares
    Share 547 Tweet 335
  • WATCH : Yohani’s first live performance in India

    785 shares
    Share 327 Tweet 191
  • Power interruption schedule released: Check your area power cut time

    734 shares
    Share 312 Tweet 176
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact

© 2022 All rights reserved.

No Result
View All Result
  • Home
  • Around South Asia
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
  • Around The World
  • Breaking News
  • Business
    • Exchange
  • Climate Change
  • Governance
    • Crime
    • Diplomacy
    • Defense
    • Human Rights
    • Politics
    • Strategic Affairs
  • Lifestyle
    • Books
    • Entertainment
      • Arts
      • Cinema
      • Gaming
      • Music
      • Movie
      • Series
      • TV
    • Health
    • Fashion
    • Food
    • Travel
  • Culture
    • Ethnicity
    • Gender
  • Development news
  • Economy
  • Education
  • Environment
  • Coronavirus
  • History
  • National
  • Offbeat
    • Media
    • Music and arts across South Asia
  • Recommended
    • Headlines
    • Highlights
    • Top Picture
    • Top Story
  • Religion
  • Science
  • Sports
    • Football
    • Cricket
      • LPL
      • IPL
    • Tennis
    • Formula 1
    • NBA
  • Tech
    • Instagram
  • United Nations
  • Weather
  • World
    • Japan
    • Russia
    • United States
  • Videos

© 2022 All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

mersin eskort -

Meritroyalbet

-
Jojobet
- Süperbetin - eskisehir escort -

https://www.vudols.com/

- Sağlık Personeli - istanbul avukat