Cryptocurrency

Nischal Shetty Shares Views on the Indian Crypto Market Development

Nischal Shetty, the prominent India-based crypto enthusiast and the honorable CEO of WazirX crypto exchange, has released a chain of tweets on his official Twitter handle proclaiming massive development and investments in the Indian crypto space very soon.

Founded in 2009, cryptocurrencies have been on a success roll in the financial space all around the world. The virtual currencies have become an inevitable part of the global economy and have seen support and participation from governments across nations. India, however, has always kept a skeptic attitude towards crypto with the Reserve Bank of India, giving constant warnings to the banks for not encouraging investments in the industry. Luckily, after a long legal fight in the Supreme Court of India, the ban has been removed from the crypto domain. The spearhead is overwhelmed with the judicial decision of removing the banking ban on cryptocurrencies and consider it to be a welcoming step for the industry in the Indian subcontinent.

In his tweets, Nischal affirmed that now India can play a major role in the innovation and development of the crypto industry as a whole. He opined that in the next twelve months span, the country would witness the emergence of hundreds of startups focused around crypto, which will eventually lead to millions of dollars of investments and thousands of jobs in the sector. Nischal insisted that though the Indian investors failed to participate in the crypto development in the initial phase, they can now actively indulge in the niche.

Nischal stated that it is our duty to spread accurate knowledge about crypto so that we can reap the best results. He insisted that to popularize crypto, we must educate ourselves and our friends with the core terminologies involved in crypto so that they can make prudent investment decisions and not find themselves getting trapped in fake initiatives.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.
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