Wednesday, 7 June 2017

Bitcoin vs Indian Government

     In India, the government has been following closely the use of cryptocurrencies because its number of users has increased very fast in recent months. Bitcoin is being acquired every day by more people and this has brought much to think to the politicians and rulers of this nation.

     Some politicians have overcome their differences and have come together to study Bitcoin's transactions in the country. Bitcoin exchange in India is one of the many operations that are performed daily.

     Indian rulers fear that cryptocurrency can be used for illicit activities such as money laundering, black market, and terrorist financing. The country's finance ministry is studying a way to regulate Bitcoin's use in India. However, they have given the opportunity to the users to give opinion on the digital currency.

     According to the findings made the politicians have been surprised by the great acceptance of cryptocurrency. Users claim that they buy Bitcoin in India and perform other operations to benefit and obtain good results. Citizens who use Bitcoins defend the digital currency and give assurance that their system is safe. This has given the government the possibility of legalizing the use of the currency in the national territory and may become a good investment for entrepreneurs, merchants and others in India.

     People sell BTC in India. They use cryptocurrency to change it then with their local currency and in that way to obtain good profits and to continue investing. Some companies are already accepting Bitcoin in their payment systems. Bitxoxo, one of the platforms linked to bitcoin, is one of the most used by the people of this country. Transactions are performed in very short periods of time unlike other portals and offers benefits that other cryptocurrencies do not have.

     In India, like other countries in the world, the use of cryptocurrency has become very popular because it has been an opportunity for many to grow economically. The applications that the Indian government wants to implement on BTC are simply a regulation, but leave the door open to accept the use of the digital currency in the future. It is not intended to eliminate cryptocurrency but to apply a measure, a penalty to investors.

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