Lately the Indian Government has been very strongly again putting it's focus on the Cryptocurrencies bill, and they have been in pursuit of finalizing the bill. Though nothing is as of now confirmed but at large the decision may not be in favor of Crypto investors in India. The proposal is to ban trades of all cryptocurrencies in India except for the ones that are issued by the state.

Well to think of it no one can really control the ownership of Cryptos, but yes it would be difficult to do transaction through the bank, since that would all be under vigilance. But future you still cannot say anything. If there is a worldwide acceptance of Bitcoin and other Altcoins, and if India does not accept it, it is going to be a challenge then to get into many trade transaction with the outer world with Fiat currency, so guess eventually something will work out. But for now surely the panic is there.

This is a strong recommendation for my Indian friends that it is advisable to buy BTC or other coins right now, while there is still nothing finalized yet, and store it in the wallet. If you are looking for long term investments, it would be safe to do it. If the law stays on banned cryptos then one may not be able to sell it easily but then one can trade with it for a lot of commodities as eventually every trade is going to accept it and it is going to be a world of Cryptos. If we want to survive the hyperinflation this is one good solution to tackle.

Also in the recent times, we have seen how Indian banks have been going down with cash of depositors, you never know the banks may just put up their hands with our money invested in them, so then what, there is nothing you can do about it. Cryptos is definitely one alternative solution available right now.

Since the user acceptability is not wide in India, there are many doubts that people have, like the hacking part of it. But now that every exchange is also having a good KYC procedure in place, it is safe, and then one should always get their own wallet to store their investments.

With so much of economy going down world wide, we are going to see hyperinflation in the coming times and Crypto is one way to safeguard and keep up with it.

There are many small groups in India, where you can do person to person trades for BTC and Gold Silver also, like a barter system. The market is doing well, we are in the bull market and by end of the year itself we will be able to get some good returns on investments with the right exit strategy, so why not make the most of it when the opportunity is there.

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