Today, I will discuss the latest trend in crypto world, If want to know more about crypto currencies then You can read my old post - What is crypto currency? In the past few years, I saw a great trend in people investing in crypto currency to make good profits. Initially, people in India were little hesitant to invest in crypto because of non-availability of proper Indian investment channels for crypto plus less awareness about the product. Soon, people realized that they can make huge money by investing in crypto currencies then many new people started investing in crypto currencies. By seeing this increasing number of Indian investors in Crypto currencies, we also saw the launch of many Indian platforms to invest in crypto currencies.
But with time, the craze in people looks to have faded away and today, people are not so excited about crypto as they were excited about it a few years back. The two of the main reasons behind this were the failure of a few top crypto currencies and high level of uncertainty in this market. The market of crypto currencies was very volatile in the last three years and few crypto curries lost everything in this period. So, people become very cautious about investing in crypto currencies because no one wants to lose his hard-earned money. Indian government further made it difficult to invest in crypto currencies and profit from it by implementing 30% tax on the profits from crypto currencies.
Now most of people in India are keeping themselves away from the crypto currency market. The huge volatility in the crypto currency market is going against it. Second, in crypto currency market it is very difficult to make someone accountable for the losses or frauds. This trend is also prevalent in other parts of world too because people have become very cautious about crypto currencies. There is also no 100% clarity on the future of crypto currencies and they become reason for fighting among the different nations. I also believe that it is the need of time to make crypto currencies more reliable and trustworthy so that every person can think of investing in them.
Too many and too fast changes are very bad for crypto currencies. Ordinary people can digest these kinds of changes so they need simple and reliable solutions as they get from their banks.
