Thursday, 15 June 2017

War between Bitcoin and Indian Government 

     A great battle for the government of India has been against cryptocurrencies. Apparently the analysts and economists of the country are running out of options to fight digital coins, with Bitcoin being the strongest of them all.

     Many members of the Ministry of Finance have studied closely the activities related to Bitcoin. They have tried to put some measures and slow down Bitcoin Exchanges in India. However, as the government studies again and again the activities of cryptocurrency, Bitcoin has not ceased to be known by more inhabitants of this great nation. Government efforts could be directed mainly at pyramid schemes, rather than legitimate bitcoin exchanges and business.

     One of the Best Bitcoin Rate is in India, causing cryptocurrency users to make the Best Bitcoin Exchange in India. This has caught the attention of the government and promoting the option of legalizing the currency.

     In India, as in other countries, Bitcoin operations can be done through applications. Applications that the government has not been able to restrict. Last month, Zebpay announced that it had reached a milestone of more than 500,000 applications downloads, with more than 2,500 users added daily. Bitxoxo, another recognized application also registers about 1000 users per day. Best Bitcoin Exchange in India are made through these applications. They have been recognized as favorites among Bitcoin users.

     Many cryptocurrency users have advised the government to follow in the footsteps of other countries such as Japan, Australia or Spain that have already legalized the digital currency and are being accepted by thousands of trades worldwide. Even in several countries Bitcoin ATMs are being implemented to carry out any operation. This could be the solution to many economic problems that India has.

     If the government legalizes Bitcoin use in the country and the implementation of ATMs could solve the problem of huge queues at the ATMs to withdraw cash. This is one of the main goals of Bitcoin. Eliminate cash in the world. There is still a long way to go before analysts say it can be achieved in several years and Bitcoin will become the first digital currency recognized worldwide.

No comments:

Post a Comment

Making Money Out of Bitcoin

The recent price drop has left many of the investors and trader into a big shock. But there is no need to panic in this situation guys, whe...