As people are significantly free and unable to move from one remote location to another, more people are investing in the cryptocurrency market to make the most during the period. Many realtors and investors are involved in the cryptocurrency market, which brings a massive spike of around 400%.
During the ongoing pandemic, more and more people are associating in the market. The high numbers in the market are also associated with the ban lifted by the Supreme Court in trading cryptocurrency earlier this year.
Within the last four months, there has been a massive increase in the number of retail investors to trade crypto to optimize their alone time in making a huge profit. As more and more people are spending considerable time in front of their laptops, people realize the importance of cryptocurrency in times where jobs are hard to find and, if found, hard to stay put.
The daily trading volume is around USD10-USD30 million dollars. The former CEO of Zebpay and former head of the Blockchain and cryptocurrency committee of the Internet and Mobile Association of India (IAMAI) detailed that the rise in the trading value is robust. The people have realized proper trading can become a classical asset to improve one’s life.
Khuranna also explained that the involvement of substantial trading amounts in the country should adequately take care of, more new taxation and classification take place as the sector has become the new avenue of income.
The founder and CEO of WazirX, Mr. Nischal Shetty, have provided the details of the last four month. He said the increase in the sign-ups are pure because of new people and entrepreneurs and trying to hang in the wagon of cryptocurrency.
Moreover, Shetty provided insights of IAMAI developing code to conduct fair trade for cryptocurrencies. However, the ban remains a concern because of a lack of clarity and conduct for trading cryptocurrencies.