India has been interested in the crypto space but uncertain regulations in the country have given rise to some setbacks. At the moment, authorities in Delhi are discussing a crypto ban, which could change the outlook of the crypto industry in India.
Despite these uncertainties, the crypto industry in India has grabbed the attention of investors of Silicon Valley. Tim Draper, Mark Cuban and Peter Thiel are some of the major investment titans of the American venture capital. They are of the view that India’s crypto industry has great potential, despite regulatory uncertainties.
According to reports, the top names of the American venture capital are focused on the cryptocurrency startups in India.
If you are also interested in stepping into the crypto space and buying digital assets like BTC and ETH then you can click on SwissBorg or Kraken (U.S. citizens).
Up to 50% discount on fees
However, if you are more interested to be a crypto trader you can opt for PrimeXBT Covesting. It allows new traders to copy the trades of experts. Sign up with our link today.
What Are Some Details to Know?
Despite regulation problems in the country, India’s CoinDCX crypto exchange became its first unicorn this month. This crypto startup gathered investments from some of the top names including:
- B Capital Group
- Coinbase Ventures
CoinDCX had around $90 million from the investors and is not the only Indian startup that is a part of foreign investments in the country. Indian crypto startups and companies have been known to raise the amounts of foreign funding to a remarkable level. Most of the foreign funding has been received from Silicon Valley, which is why a large number of investors are focused on India’s crypto industry.
The investors are positive regarding India’s crypto market and some even believe that the next 10 years can very possibly be a “golden moment”.
Here are some outstanding facts to know.
- Crypto companies in India have raised over $99.7 million in funding in the first six months of 2021.
- Tim Draper led a funding round of around $5 million for Unocoin, towards the end of 2020.
- Mark Cuban invested a disclosed amount.
- Almost $25 million was invested by Peter Thiel.
The Indian crypto market has not only caught the eye of Silicon Valley investors but has also intrigued other major investors in the USA. The Indian crypto ecosystem is growing and according to experts, it is likely to stand out in the crypto space, given a little time.
Globally popular cryptocurrency exchanges such as Binance and Coinbase have also reportedly invested in the Indian crypto space in recent years.
An Indian crypto investor and advisor, Rahul Gaitonde, stated:
“There’s a growing base of world-class crypto projects being created in India that are inherently global in nature,”
“Crypto companies are being built in India for global markets, from the decentralized survey company BlockSurvey to the Ethereum-scaling company Polygon, among others. The market for these are not limited to only Indian customers. Investors see the sheer potential for scale for these companies.”
What Should Potential Investors and Traders Know?
People who have been a part of the crypto space for quite some years are familiar with the unpredictability and volatility associated with the crypto market. The price of cryptocurrencies fluctuates, sometimes more frequent than many would prefer.
Investing or trading in crypto is not completely risk-free but it is also not without some benefits either, which includes new features such as crypto payments.
At the moment, the crypto market is doing quite well with the top two crypto-assets rising in terms of price.
- Bitcoin is currently trading at $47,384 (at the time of writing).
- Ethereum is currently trading at $3,280 (at the time of writing).
Therefore, if you are looking to invest in digital assets you can opt for some of the best crypto exchanges.
On the other hand, if you are interested in Bitcoin margin trading with up to 100x leverage you can use Bybit. Use this link to sign up and earn a free bonus on your initial deposit.
Claim up to $30,030 in Bonus