can we buy cryptocurrency in india ?
Yes it is legal to buy cryptocurrency in india.
Why government cannot ban crypto currencies?
In India alone, investors aged between 25 and 40 years are spending heavily on bitcoin, according to CoinDCX exchange. Meanwhile, the country’s largest crypto exchange, WazirX, saw a 125 percent increase in their sign-ups in the past six months.
In India, you can buy Bitcoin from several online exchanges like BuyUCoin, Coinshare, Unocoin etc. Unocoin is an Indian-based exchange. Online exchanges like these will allow you to buy, sell, and hold Bitcoins. Once you place an order, you can purchase Bitcoin using digital payment methods
Bitcoin hit a new record above $47,000 on Tuesday, 9 February, after Elon Musk’s Tesla announced a $1.5 billion investment in the largest cryptocurrency. Tesla added that it would begin accepting the digital token as a form of payment for its electric cars.
Government backed currency
The government has proposed to launch Reserve Bank of India (RBI) backed Central Bank-backed Digital Currency (CBDC). This leaves the industry and investors uncertain about the future of virtual currencies in India. However, this isn’t the first time when government has tried to act against crypto-currency. Here is a complete look at everything that has happened so far.
the youth is against the ban, after the news of crypto bill in 2021-22 budget many organizations opposed government. in result the crypto bill was removed from budget 2021-22.
check out this article how to invest in crypto currencies