There are several trading platforms available, and the best one for you will depend on your specific needs and preferences. Here are some popular trading platforms:
eToro: Known for its social trading features, eToro allows users to follow and copy the trades of successful traders. It offers a wide range of assets and a user-friendly interface.
TD Ameritrade: A well-established platform in the United States, TD Ameritrade provides a comprehensive trading experience with a variety of investment options, educational resources, and advanced trading tools.
Interactive Brokers: This platform is popular among active traders due to its low-cost trades and extensive range of investment options, including stocks, options, futures, and more. It offers powerful trading tools and research capabilities.
Robinhood: Robinhood gained popularity for its commission-free trading model and user-friendly mobile app. It primarily focuses on stock trading and offers a simplified trading experience.
Fidelity: Fidelity is a reputable brokerage firm that provides a wide range of investment products, including stocks, ETFs, mutual funds, and more. It offers a user-friendly platform with robust research and educational resources.
Charles Schwab: Known for its strong customer service and comprehensive investment offerings, Charles Schwab provides access to stocks, bonds, ETFs, options, and more. It offers intuitive trading platforms and a wide range of educational materials.
Coinbase: If you are interested in cryptocurrency trading, Coinbase is a well-known platform that allows you to buy, sell, and store various cryptocurrencies. It offers a user-friendly interface and a high level of security.
It’s important to conduct thorough research and consider factors such as fees, available assets, trading tools, security measures, and customer support when selecting a trading platform. Additionally, regulations and availability may vary depending on your country of residence.
Investing money in the right way involves careful consideration and planning. Here are some general steps to help you get started:
1.Set clear financial goals: Define your investment objectives. Are you looking for long-term growth, income generation, or a combination of both? Understanding your goals will help you determine the appropriate investment strategy.
2.Educate yourself: Learn about different investment options and understand the associated risks and potential returns. Read books, articles, and reputable websites about investing. Consider attending investment seminars or workshops to enhance your knowledge.
3.Assess your risk tolerance: Determine your comfort level with risk. Investments come with varying levels of risk, and it’s important to choose investments that align with your risk tolerance. Generally, higher-risk investments offer greater potential returns but also carry a higher chance of losses.
4.Diversify your portfolio: Don’t put all your eggs in one basket. Diversification is key to reducing risk. Allocate your investments across different asset classes such as stocks, bonds, real estate, and commodities. Within each asset class, diversify further by investing in different industries or regions.
5.Create a budget and save: Before investing, make sure you have a solid financial foundation. Create a budget to manage your expenses and save a portion of your income regularly. Building an emergency fund is also important to handle unexpected expenses without disrupting your investment strategy.
Consider how long you are willing to keep your money invested. Short-term goals, such as saving for a vacation, may require more conservative investments, while long-term goals, like retirement planning, may allow for more aggressive strategies.
6.Choose the right investment account: Explore different types of investment accounts such as individual brokerage accounts, retirement accounts (e.g., 401(k) or IRA), or tax-advantaged accounts (e.g., Health Savings Account or 529 plan). Each account type has its own tax implications and restrictions, so choose the one that suits your needs.
7.Start with low-cost investments: Minimize investment costs by choosing low-cost options such as index funds or exchange-traded funds (ETFs) that track broad market indexes. These options often have lower fees compared to actively managed funds.
8.Monitor and review your investments: Regularly review your investment portfolio to ensure it aligns with your goals. Rebalance your portfolio if necessary to maintain the desired asset allocation. Stay informed about market trends and economic developments that may affect your investments.
9.Seek professional advice if needed: Consider consulting with a financial advisor or investment professional, especially if you have a significant amount of money to invest or if you need assistance with complex investment strategies. They can provide personalized guidance based on your financial situation and goals.
Remember, investing involves risk, and no strategy can guarantee profits or protect against losses. It’s essential to do your own research, stay informed, and make informed decisions based on your individual circumstances.
Business Idea- अगर आप भी घर बैठे हर महीने मोटी कमाई (How to earn money?) करना चाहते हैं तो आज हम आपको एक ऐसा बिजनेस आइडिया दे रहे हैं, जिसमें आप अच्छी कमाई कर सकते हैं. सबसे खास बात तो यह है कि आप यह बिजनेस नौकरी के साथ कर सकते हैं.
नई दिल्ली. महंगाई इतनी बढ़त गई है कि अब ज्यादातर लोग नौकरी के अलावा अतिरिक्त इनकम (Extra income) की तलाश में रहते हैं. खासकर मध्यम आय वाले व्यक्तियों के लिए वेतन के पैसों (Salary) से घर खर्च चलाना ही मुश्किल हो जाता है, ऐसे में अन्य खर्चों के लिए पैसों की जरूरत (Need money) पड़ती है. अगर आप भी अपनी नौकरी के साथ कुछ अतिरिक्त कमाई (How to earn money) करना चाहते हैं, तो आज हम आपको कुछ ऐसे आइडिया (earning ideas) दे रहे हैं, जहां से आप हर महीने मोटी कमाई (Earn money) कर सकते हैं.बता दें कि इस काम के लिए आपको घर से बाहर (easy way to earn money from home) निकलने की भी जरूरत नहीं है. इस बिजनेस को आप यात्रा के दौरान, गांव या कहीं भी कर सकते हैं. इसके लिए आपको कोई बहुत बड़ी जगह की भी जरूरत नहीं है. इस बिजनेस के लिए सिर्फ आपके पास स्मार्टफोन या लैपटॉप (business via smartphones) होना जरूरी है.
आइये अब जान लेते हैं कौन से ऐसे बिजनेस हैं जहां अच्छी कमाई कर सकते हैं.
तस्वीरें बेचकर पैसा कमाना अगर आपको फोटोग्राफी का शौक है या फिर आप ऐसे इलाके में रहते हैं, जहां तस्वीरों की काफी डिमांड है? इस तरह के शौक रखने वाले लोगों को बता दें कि स्टॉक फोटोग्राफी वेबसाइट्स अपने आप में तस्वीरों का भंडार है. जो लगभग हर एक सब्जेट को कवर करती है. अब ये भी जान लीजिए कि ये काम कैसे करता है?
फोटोग्राफर अपनी तस्वीरों को डाटाबेस में से किसी भी एक कैटेगरी में अपलोड कर सकते हैं. किसी भी मैग्जीन एडिटर, डिजाइनर या फिर ऑर्गेनाइजेशन को आप वेबसाइट से कनेक्ट कर सकते हैं, ताकि यहां से आपकी फोटोज को खरीदा जा सके. स्टॉक वेबसाइट्स की सबसे अच्छी खासियत ये है कि इसके जरिए आप कितनी भी बार अपनी फोटोज को बेच सकते हैं. फोटो वेबसाइट्स की लिस्ट में शटरस्टॉक, फोटोशेल्टर और गेटी इमेज जैसे बड़े नाम शामिल हैं.
वीडियो के जरिए कमाई पिछले कुछ सालों में यूट्यूब वीडियो कंटेंट का बहुत बड़ा स्रोत बनकर उभरा है. शायद ही ऐसा कोई होगा, जिसका यूट्यूब पर खुद का अकाउंट न हो. फिर चाहें वो बड़ी बड़ी कंपनियां हों, फिल्म स्टार्स हो या फिर आम लोग. कई लोग यूट्यूब या वीडियो कंटेंट के जरिए मोटी कमाई कर रहे हैं. लोग अपने वीडियो को मोनेटाइज (पैसा कमा सकते हैं) कराने के लिए सब्सक्रिप्शन फीस लगा सकते हैं या फिर केवल पैसा देकर कॉन्टेंट देखने के लिए पासवर्ड प्रोटेक्शन भी लगा सकते हैं, ताकि आप इससे पैसा कमा सकें. यूट्यूब में ऐसे वीडियो होंगे जिनको पूरा देखने के लिए आपसे सब्सक्रिप्शन फीस मांगी जाती है. तो यह भी एक अच्छा तरीका हो सकता है पैसा कमाने का और वो भी घर बैठे।
इंटरनेट रिसर्च और सर्वे अगर अब कोई आपसे पूछे कि क्या दिनभर इंटरनेट में लगे रहते हो, तो आप इसका तगड़ा जवाब दे सकते हैं. क्योंकि इंटरनेट पर दिनभर लगे रहने से भी आप अच्छा खासा पैसा कमा सकते हैं. जी हां, बिल्कुल अच्छा पैसा कमाने का एक तरीका इंटरनेट भी है. आप अपने खाली समय में इंटरनेट सर्फिंग कर सकते हैं या फिर ऑनलाइन सर्वे भर सकते हैं. इससे आपकी कमाई भी हो सकती है. ऑनलाइन सर्वे के जरिए पैसा कमाने की एक वेबसाइट ySense भी है.
As investor interest in cryptocurrency spikes, bitcoin could rise to $1 million over the next five years, one expert told Yahoo Finance Live.
“Bitcoin is going to $1 million a coin,” CoinDesk Learn Editor Ollie Leech said. “I actually believe that it will, at some stage, with just the scarcity aspect alone, it makes it an incredibly exciting asset to hold… Bitcoin is uncontested.”
The timing of bitcoin crossing $1 million is the big question. Leech says the next bitcoin halving — a key technical event when the amount of bitcoins awarded to miners is cut in half— is set to take place in 2024, and that will likely trigger a massive price surge.
“The year after halving always seems to create a huge rise,” added Leech. “That’s what we are seeing now. The last halving for bitcoin was in 2020, and so far this year, we have seen prices explode. I don’t know when [bitcoin will cross $1 million] but it will likely be after 2025.”
Bitcoin’s market cap is currently at more than $1 trillion, about double where it was at the start of the year. The rally has been fueled by a couple of factors, including the fact that more institutional investors are embracing the cryptocurrency.
Earlier this year Tesla invested $1.5 billion in bitcoin, while Morgan Stanley and Goldman Sachs plan to offer select clients exposure to crypto. JPMorgan is also reportedly looking at its own product in partnership with NYDIG.
Crypto is gaining momentum in the payment space as well, with Mastercard, PayPal and Visa increasing crypto exposure over the past several months.
Wall Street’s big banks and payments firms are getting involved in digital assets as a result of client demand. A recent Mastercard survey found that 40% of people plan to use cryptocurrency in the next year.
Despite the growing bullish sentiment towards crypto on Wall Street and main street, some well-known investors remain skeptical.
Legendary investor Warren Buffett’s long-time business partner Charlie Munger was critical of bitcoin at Berkshire Hathaway’s annual shareholders meeting on Saturday, saying “I think the whole damn development is disgusting and contrary to the interests of civilization.”
And that’s not the first time Buffett or Munger have criticized the cryptocurrency. Back in 2018, Buffett warned that bitcoin was “probably rat poison-squared” while Munger said investing in cryptocurrencies is “just dementia.”
Regardless of warnings from skeptics that bitcoin is highly speculative and overvalued, investors are still buying. Bitcoin was trading just above $57,000 at the time of publication, well off the highs of the year but a gain of 94% since January 1. And if Leech is right, we could see a rally of more than 1,650% in the next five years.
पिछले कुछ दिनों से दुनिया की सबसे बड़ी क्रिप्टोकरेंसी बिटक्वाइन में बड़ी उछाल देखी जा रही है। अपने सभी रिकाॅर्ड को तोड़ते हुए एक बिटक्वाइन की ताजा कीमतें 60,000 डाॅलर के पार पहुंच गई है। अमेरिकी राष्ट्रपति जो बाइडेन के पिछले दिनों 1.9 ट्रिलियन डॉलर की मदद के आदेश के बाद से ही बाजार में तेजी देखी जा रही है। और इसका असर बिटक्वाइन पर भी दिख रहा है। हालांकि कई एक्सपर्ट का मानना है कि यह तेजी सिर्फ कुछ ही समय के लिए है। बीच में एक ऐसा समय आया था जब क्रिप्टोकरेंसी की कीमतों में अचानक गिरावट आने लगी थी।
पिछले एक साल के दौरान बिटक्वाइन की कीमतों में जबरदस्त उछाल आया है। जहां एक साल पहले एक बिटक्वाइन की कीमत महज 5000 डाॅलर थी तो वहीं अब यह बढ़कर 60,000 डाॅलर के पार पहुंच गई है। भारतीय रुपये में अगर एक बिटक्वाइन की कीमत आंके तो यह करीब 43.85 लाख रुपया होगा।
इतनी तेजी के पीछे का कारण क्या है
बिटक्वाइन में दुनिया के कई बड़े इन्वेस्टर इंवेस्ट किए हुए हैं। इलेक्ट्रिक कार बनाने वाली कंपनी टेस्ला के मालिक एलन मस्क पिछले ने भी इसमें पैसा लगाया है। उन्होंने करीब 1.5 बिलियन डॉलर का इंवेस्टमेंट इसमें किया है। एलन मस्क समय-समय पर इसमें इंवेस्ट करने की सलाह भी देते रहते हैं। मार्केट एक्सपर्ट ईड मोया के अनुसार, ‘बिटक्वाइन की कीमतें एक बार फिर बहुत तेजी से बढ़ेगी। और इसे रोकना किसी के लिए भी संभव नहीं होगा।’
करीब 350 अरब डॉलर के बाजार पूंजीकरण के साथ बिटक्वाइन दुनिया की सबसे बड़ी क्रिप्टोकरेंसी बन चुकी है। इसे 2009 में उस समय लांच किया गया था जब दुनिया में आर्थिक संकट आ चुका था। गणितीय गणनाओं के हल के आधार पर कंप्यूटरों ने बिटक्वाइन के अतिरिक्त यूनिट्स को तैयार किया। यह गणना हर बार यूनिट के जोड़े जाने के बाद और भी जटिल होती जाती है। इस आभासी मुद्रा की सबसे रोचक बात यह है कि इसका हिसाब-किताब हजारों कंप्यूटरों में एक साथ सार्वजनिक लेजर में रखा जाता है। यह ठीक उस प्रक्रिया के उलट है, जिसमें पारम्परिक मुद्राओं का हिसाब बैंकों के सर्वर में रखा जाता है।
नई दिल्ली। क्रिप्टोकरेंसी बिटकॉइन की कीमत 51,000 डॉलर के पार पहुंच गई है और निवेशकों को इसकी कीमत ज्यादा लगने लगी है। यही वजह है कि निवेशक ऐसी क्रिप्टोकरेंसी तलाश रहे हैं, जिन पर दांव लगाया जा सके। निवेशक उन पर दांव लगाना चाहते हैं, ताकि भाव बढऩे पर अच्छा मुनाफा कमाया जा सके। दुनिया में क्रिप्टोकरेंसी का बाजार 1.54 लाख करोड़ डॉलर के पार पहुंच गया है। भले ही इसमें बिटकॉइन का सबसे ज्यादा योगदान हो और वह सबसे लोकप्रिय क्रिप्टोकरेंसी हो, लेकिन वह इकलौती आभासी मुद्रा नहीं है।
इथीरियम: बाजार पूंजीकरण के लिहाज से यह दूसरी सबसे बड़ी क्रिप्टोकरेंसी है। इसे स्मार्ट कॉन्ट्रैक्ट पर आधारित विकेंद्रीकृत ओपन सोर्स ब्लॉकचेन की मदद से बनाया गया है। ईथर असल में इथीरियम ब्लॉक चेन की क्रिप्टोकरेंसी है। यह बिटकॉइन ब्लॉकचेन से अलग एकदम नई ब्लॉकचेन है।
बाइनैंस कॉइन: बाजार हिस्सेदारी के लिहाज से यह तीसरी सबसे बड़ी क्रिप्टोकरेंसी है। इसका इस्तेमाल बाइनैंस क्रिप्टोकरेंसी एक्सचेंज पर शुल्क अदा करने में किया जाता है। डवलपरों के बीच बाइनैंस चेन की लोकप्रियता बढ़ती जा रही है, क्योंकि इससे उनके नेटवर्क पर लेन-देन करना काफी आसान है।
A: यह ब्लॉकचेन पर आधारित क्रिप्टोकरेंसी नहीं है। इसका ज्यादातर इस्तेमाल बड़ी कंपनियां करती हैं, जिन्हें भारी रकम लेनी-देनी होती है।
लाइटकॉइन: यह बिटकॉइन का हल्का और ज्यादा रफ्तार वाला रूप है। इसे बिटकॉइन के सोर्स कोड पर ही बनाया गया है, इसलिए इसमें और बिटकॉइन में काफी समानता है। असल में इसे कम कीमत वाले लेन-देन करने के लिए तैयार किया गया था और रोजमर्रा के इस्तेमाल के लिहाज से यह काफी अच्छी है।
टोकन: कई कंपनियों ने अपनी मुद्राएं निकाल दी हैं, जिन्हें टोकन कहा जाता है। इनका इस्तेमाल उसी कंपनी से सामान या सेवाओं के लेन-देन में किया जा सकता है, जिसने इन्हें जारी किया है। अगर आप अपना टोकन तैयार करना चाहते हैं, तो नई ब्लॉकचेन बनाने की कोई जरूरत नहीं है। पहले से मौजूद पर काम करना संभव।
बाजार में मौजूद हैं कई क्रिप्टोकरेंसी- एक अनुमान के अनुसार, दुनिया में फिलवक्त 6,000 से ज्यादा क्रिप्टोकरेंसी चलन में हैं और आभासी मुद्राओं के बाजार में उनकी हिस्सेदारी 34 फीसदी के करीब है। बिटकॉइन की सफलता के बाद कई क्रिप्टोकरेंसी बाजार में उतारी गई हैं। बाजार हैसियत के लिहाज से बिटकॉइन के बाद शीर्ष 5 क्रिप्टोकरेंसी इथीरियम, बाइनैंस कॉइन, टीथर, पोल्काडॉट और कार्डेनो हैं। रिपल और लाइटकॉइन भी लंबे अरसे तक इस फेहरिस्त में डटे रहे थे और अब भी दोनों आस-पास ही हैं।
*The central government will take a decision on the recommendation of committee and legislative proposal, says FM *A cryptocurrency bill is being finalised and it will be sent to cabinet soon, minister of state for finance Anurag Singh
A high-level committee suggested that all the private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India, finance minister Nirmala Sitharaman said on Tuesday.
In a reply to a question in Rajya Sabha whether central government is planning to issue strict guidelines on cryptocurrency trading, Sitharaman said, “A high-level Inter-Ministerial Committee (IMC) constituted under the Chairmanship of Secretary (Economic Affairs) to study the issues related to virtual currencies and propose specific actions to be taken in the matter recommended in its report that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India.”
The central government will take a decision on the recommendation of IMC and legislative proposal, if any would be introduced in the Parliament following the due process,” finance minister added. In 2018, the Reserve Bank of India had banned banks from processing transactions relating to cryptocurrency. In in March 2020, Supreme Court overturned the ban.
Reiterating the govt’s stance on Bitcoin, the finance minister said, “It was announced in the Budget Speech for 2018-19 that the government does not consider cryptocurrencies legal tender or coins and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system.” “The government will explore use of block chain technology proactively for ushering in digital economy,” it further said. The central government will take a decision on the recommendation of committee and legislative proposal, says FM A cryptocurrency bill is being finalised and it will be sent to cabinet soon, minister of state for finance Anurag Singh Thakur said
A high-level committee suggested that all the private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India, finance minister Nirmala Sitharaman said on Tuesday.
In a reply to a question in Rajya Sabha whether central government is planning to issue strict guidelines on cryptocurrency trading, Sitharaman said, “A high-level Inter-Ministerial Committee (IMC) constituted under the Chairmanship of Secretary (Economic Affairs) to study the issues related to virtual currencies and propose specific actions to be taken in the matter recommended in its report that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India.”
“The central government will take a decision on the recommendation of IMC and legislative proposal, if any would be introduced in the Parliament following the due process,” finance minister added. In 2018, the Reserve Bank of India had banned banks from processing transactions relating to cryptocurrency. In in March 2020, Supreme Court overturned the ban.
Reiterating the govt’s stance on Bitcoin, the finance minister said, “It was announced in the Budget Speech for 2018-19 that the government does not consider cryptocurrencies legal tender or coins and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system.” “The government will explore use of block chain technology proactively for ushering in digital economy,” it further said.
A cryptocurrency bill is being finalised and it will be sent to cabinet soon, minister of state for finance Anurag Singh Thakur said earlier. “Regulatory bodies like RBI and Sebi etc also don’t have a legal framework to directly regulate cryptocurrencies as they are neither currencies nor assets or securities or commodities issued by an identifiable user. The existing laws are inadequate to deal with the subject. The government had formed an inter ministerial committee and the committee has given a report. Post that there was a meeting of the empowered technology group which happened earlier. The committee of secretaries which was chaired by the cabinet secretary has also its given their report. The bill is being finalised and will be sent to the cabinet soon. So we will be bringing the bill soon,” Thakur said.
Earlier this month, the Reserve Bank of India (RBI) said that it has plans to bring a digital version of the Indian Rupee. The central bank “was exploring the possibility as to whether there was a need for a digital version of fiat currency, and in case there was then how to operationalise it,” it mentioned.
Mostly cement stocks have gained substantially in the last two trading sessions and Ambaja Cement is also trading in tandem with the trend. It surged almost vertically from the support zone of the medium-term moving average (100 EMA) on the daily chart and made a new record high as well. The chart pattern, combined with recent buoyancy in the market, is pointing towards a steady up move ahead. Traders can create fresh longs on any dip in the given range.
MothersonSumi Systems Limited Recommendation: Buy Last Close: 156.30 Initiation range: 156-158 Target: 180 Stop loss: 145
MothersonSumi has retraced marginally and tested the support zone around 140, taking a breather after a strong recovery from the March 2020 lows. It has formed a fresh buying pivot now and looks all set to resume the uptrend. We thus advise creating fresh longs in the mentioned zone.
Zee Entertainment Enterprises Limited Recommendation: Buy Last Close: 242.90 Initiation range: 240-242 Target: 260 Stop loss: 228
We’re seeing a gradual recovery in media stocks and Zee Entertainment is also participating in the move now. It has witnessed a fresh breakout on February 2, after spending nearly one and a half months in a consolidation range. Indications are in the favour of recent momentum to extend further. Traders shouldn’t miss this opportunity and create fresh longs in the given range.
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For those interested in cryptocurrencies, the government of India has listed a bill to be introduced in the Parliament during the Budget session of the 17th Lok Sabha. The bill seeks to ban private cryptocurrencies like Bitcoin, Ripple, Ether, and others in India.
The government is likely to table the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. It is aimed at creating a ‘facilitative framework’ for an official digital currency in India to be issued by the banking regulator, the Reserve Bank of India (RBI). The government’s bill also seeks to ban the Bitcoin, Ether, Ripple, and other private cryptocurrencies but it may allow certain kinds of uses and promotions of the technology behind them.
According to the RBI booklet on payment systems, the government is sceptical of these currencies and RBI is exploring the creation of a digital version of the Indian national currency.
“In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. Nevertheless, RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and, in case there is, how to operationalise it,” the booklet said while acknowledging how private digital currencies have gained popularity recently. These private cryptocurrencies were banned earlier as well, but the Supreme Court later overturned the previous ban in 2018.
It is to be noted that the government is considering the introduction of a bill to set up a development finance institution (DFI) in India as well. The central government will introduce The National Bank for Financing Infrastructure and Development (NaBFID) Bill, 2021 in the Parliament.
According to media reports, the DFI is going to act as a catalyst and promote infrastructural financing. It will be the principal financial institution and development bank in India to provide a supportive ecosystem for the infrastructure projects in the country across their life-cycle. Posted by Technical Mechzone
The budget session of Parliament is all set to introduce a new bill that bans private cryptocurrencies and provides for an official digital currency to be issued by the Reserve Bank of India.
The Union Budget, which will be presented on February 1, is looking towards the introduction, consideration, and passing of the Cryptocurrency and Regulation of Official Digital Currency Bill. Apart from prohibiting all private cryptocurrencies in India, the bill also seeks to create a facilitative framework for an official digital currency issued by the RBI. However, as per a Lok Sabha bulletin, the bill allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses. In 2018, the Indian central bank had banned crypto transactions after a number of frauds came to the fore following PM Modi’s decision to ban 80% of the nation’s currency. As a result, the Cryptocurrency trade was brought to a halt after the RBI asked all regulated entities, such as banks, to stop any dealings related to private cryptocurrencies as part of that order.However, the table’s turned when a supreme court bench, headed by Justice Rohinton F Nariman, quashed the central bank’s circular on grounds of disproportionality.
According to a report by Bloomberg, the court ruled that RBI had failed to show “at least some semblance of any damage suffered by its regulated entities’’ to back its decision to effectively bar cryptocurrencies in India.” From then Cryptocurrency exchanges began operations yet again.
The rapid surge in the price of Bitcoins accelerated its use by top banks, which had stopped dealing with cryptocurrency exchanges after the RBI’s order. The dealings with the cryptocurrency became a point of global debate. Large Investment houses said that Bitcoins can be seen as an alternative to gold. JPMorgan said that “a crowding out of gold as an ‘alternative’ currency implies big upside for bitcoin over the long term.” Earlier this week, Bridgewater Associates founder Ray Dalio said Bitcoin is “one hell of an invention” and added that he is considering cryptocurrencies as investments for new funds offering clients protection against the debasement of fiat money. To further this cause, payment networks such as Paypal, MasterCard, and Visa also moved to set up systems that accept payments via cryptocurrencies.
Also, this week, the RBI had reiterated that it was exploring the need for a digital version of the fiat currency.
Technical mechzone 