Crypto adoption in India could happen successfully following any intervention from the regulators, besides implementing a tax cut and TDS. The country has a vast population to leverage. Still, it is also responsible for educating them about the functioning of crypto and Web3, both of which are upcoming technologies in the world.
India has so far recognized the existence of cryptocurrencies and Web3, hence the taxes. The country, however, has yet to take concrete steps toward adoption. Exchanges are pitching in with hopes that the tables will turn.
For instance, Bitget has announced that it will conduct the first offline gathering in Delhi, focusing on Web3 and cryptocurrencies. Everyone is welcome, including traders, startups, exchanges, and others. The event will happen on February 18, 2023, from 12 p.m. IST until 3 p.m. IST. The agenda includes an exploration of crypto derivatives, an introduction, and special closing remarks at the Palms Town & Country Club, followed by a lunch session.
The 3-hour event is great for startups and professionals because it gives everyone time to meet each other and talk about how to meet the growing demand for digital assets.
Bitget, a crypto exchange, has also announced plans to host many more similar events across India in 2023 alone. This is backed by the confidence that the platform has gained through its 500% global growth, with the number touching the mark of $5 billion against the earlier mark of $600 million in trading volume.
In India alone, Bitget has seen a rise of 200% in the trading volumes of its digital assets. According to Coingecko, the crypto exchange is currently ranked fifth, up from twentieth.
This is not the only exchange hosting a campaign to spread awareness about crypto and Web3. On the list of crypto events, the community also has CoinDCX touring the major regions of the country for Namaste Web3. The objective is slightly different since the goal is also to showcase how the sector can contribute to India’s aim of becoming a $5 trillion economy.
Also, the mission is to highlight how the industry will affect Gen-Z and millennials. The fact that they are inclined to work in the IT sector for a product that has the potential to change the future is known. Crypto and Web3 perfectly fit their bill, signaling that having more ventures in crypto and Web3 will also assist with employment benefits. Needless to say, this contributes to the country’s growing population.
As for Namaste Web3, registrations for Delhi are scheduled to open at the earliest. Other regions will follow on the list.
CoinDCX and Bitget have begun their campaigns, respectively. It remains to be seen if both will ever join hands to double the power since the goal is more or less the same.