The Indian Crypto Exchange Market Has A Target Addressable Market Of ~ 250 Million Users As Of 2021 Majorly Driven By The Young Investors And Traders Belonging To The 20-40 Years Age Group – Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 1. Indian Crypto Exchange Market expanded at a robust rate, fueled by demonetization, access to the internet, and during & post-COVID investment surge. To Know More about this report, download a Free Sample Report Between 2016 and 2021, the Indian crypto exchange market grew significantly, with a massive increase in the adoption of cryptocurrencies as a mode of investment due to rising industry valuations, an influx of new investors, and the emergence of crypto exchange startups that went beyond the typical crypto exchange model. In the Indian market, cryptocurrency as a cross-border payment medium will make a significant difference. It would drive the prosperity of digital currency growth in India for a long time due to high remittance demand. Because cross-border transactions are often expensive, utilizing bitcoin or other cryptocurrencies as a cross-border payment medium allows Indians to save a significant amount of money on remittance costs. The increased acceptance of cryptocurrencies following COVID-19 is also helping to boost the crypto exchange business by growing its user base. 2. Awareness about Virtual Currencies, with the shift to the P2P model and visualization of cryptocurrencies as a mode of investment is the major contributor to the crypto exchange market in India. Indians began to seek alternative currency models by 2018 post demonetization in 2016. Many Indians, especially those in the 40 percent bracket with access to the internet began to take up Bitcoin and other cryptocurrency investments. Even, before the union budget for the fiscal year 2022-23, where a 30% tax is levied on cryptocurrencies, virtual currencies were seen as the assets where more tax could be saved than the usual investments done where a higher rate of tax is charged. Also, rapid urbanization in the region complements the demographic change as consumers are shifting to urban cities for better job opportunities. Moreover, increasing the financial stability of consumers leads them in availing better access to education which helps them to understand a better and clearer version of the cryptocurrency market. Furthermore, constant hindrances from the government, either publishing a circular for preventive measures against cryptocurrency trading or rolling out a circular regarding the ban of all private cryptocurrencies created a dilemma scenario in the mind of traders for regular transaction methods hence they shifted to the peer-to-peer model. 3. Government of India played a major role in the wild journey of the crypto exchange market from forming a committee to draft laws to RBI’s constants warnings regarding the risk associated. Visit This link Request for Custom Report An inter-ministerial committee under the chairmanship of Subhash Chandra Garg, Secretary of the Department of Economic Affairs, was constituted to draft the regulatory framework for cryptocurrencies. Additionally, India’s “Department of Revenue has been actively involved in the working papers being developed by the FATF on various issues (such as virtual currency, and proliferation financing) which will act as guidance for the member countries. Moreover, the Financial Action Task Force (FATF), a global standard-setting body created to combat money laundering and terrorist financing, told the G20 recently that it is updating policies on crypto regulation which will be presented at the G20 summit. In addition to several warnings about the risk of investing in cryptocurrencies, the RBI issued a circular on April 6 2018 prohibiting regulated entities from dealing in cryptocurrencies or providing “services for facilitating any person or entity in dealing with or settling” cryptocurrencies. 4. Though India is booming as a hub for cryptocurrencies, there are several issues associated with it such as Operational risks, Cyber risks, and Governance risks Cyber risks include high-profile cases of hacking-related thefts of customer funds. Such attacks take place on centralized elements of the ecosystem (for example, wallets and exchanges) but can also arise on the consensus algorithms that underpin the operation of blockchains. Other risks include operational risks that can result in significant downtime when failures and disruptions prevent the use of services and even result in large losses of customer funds. Such risks have coincided with periods of high transaction activity and can result from poorly designed systems and controls. For example, on May 19, when liquidations of leveraged positions peaked, major exchanges reported outages, citing “network congestion.” Moreover, as of 2021, there was no proper regulatory framework for cryptocurrencies in India and also the circular by RBI to ban all digital currencies led to investors’ loss as they are afraid of trading their money. For more insights on the market intelligence, refer to the link below:- Indian Crypto Exchange Market Follow us:- Facebook | LinkedIn | Twitter Post Views: 5 Tags: adoption of cryptocurrencies in India, Angel investors in India Crypto Palteform Market, Best Cryptocurrency Exchanges In India, business model of leading crypto exchanges India, Challanges in India Crypto Exchange Market, Competitors in India Crypto Exchange Market, crypto exchange industry in India, Crypto Exchange Service Providers in India, crypto exchange startups in India, crypto trading platforms of India, cryptocurrency exchange & trading platform India, Domestic Crypto exchange companies In India, Emerging Players in India Crypto Exchange Market, India Crypto exchange industry size, Indian Crypto Exchange Industry, Indian Crypto Exchange Market, Indian Crypto Exchange Sector, Institutional Investors in India Crypto Exchange Sector, International crypto exchange platforms in India, leading crypto exchanges in India, Leading Players in Crypto Exchange Market India, Major Players in India Crypto Exchange Market, new investors in India Crypto Exchange Industry, number of registered users in India Crypto Exchange plateform, Top crypto investors in india, Venture capitals in India Crypto Exchange Market, virtual currencies in India