Indian Trader’s Daily Spend Reach Millions for Crypto Trading

India has been witnessing a trading boom since months after the supreme court lifted the ban on cryptocurrency trading. Even if the nation faces its worst crisis in the economy in approximately three decades, cryptocurrency trading, particularly on P2P crypto exchanges, has peaked. The founders of crypto exchanges consider it as a direct impact of RBI’s unconstitutional two-year ban lifted by the supreme court on 15 March 2020, just three weeks before the whole nation went into nationwide lockdown.

The retail traders of India, aged between 25 and 48, are spending millions of money on digital currency trading in India. The top cryptocurrency exchanges, including PayBitoPro, have felt the trading rush by witnessing triple and double-digit development in their user signups within the last 6 months. Owing to that Indian threading rash, brokers might anticipate as much as 12% growth in sales, which counts for approximately 230 billion rupees. It indicates that the trading volumes have touched an all-time high amid the national lockdown.

With that being stated, the youth population of India is driving a boom within the Nation’s investment landscape as millions of traders have been piling into the crypto trading market throughout the pandemic. They have been investing millions in digital currency, which has led to the hunt for new income streams.

Trading Boom in India:

Crypto exchanges witnessed a 125% rise in user sign up on their platforms in the last 6 months. Moreover, a huge trading volume surge was seen in the last three months. The founders of crypto exchanges are claiming that their platforms are witnessing 20 to 25 million dollars worth of trading days. Moreover, of which 75% is due to Indian traders.

Approximately, 19 to 26 million dollars of regular trading volumes are witnessed. Almost, 89% of crypto transactions, among these, come from India. Moreover, 70% of crypto platform’s users stand somewhere below the age of 30 years. On average, Indian traders range from 20 to 40 years of age.

Amid all other exchanges, PayBitoPro also experienced a trading volume surge. Since the beginning of the year, the USA-based global crypto exchange has been expanding its coin portfolio. Therefore, it closely follows by a huge trading volume surge, along with a significant rise in new user registrations.

Also Read: PayBitoPro, India’s Leading Cryptocurrency Exchange with Best INR Support

All About Bitcoin’s Price Movement:

Crypto professionals believe that bitcoin’s rising price will proceed to a significant development in the retail investor’s number in India. Industrialists are bullish on crypto, and professionals expect the crypto to rise to new highs at approximately 100000 dollars. Alternatively, the fear of missing out might make several investors shift towards bitcoin trading.

In an interactive session with the media, the Managing Director of PayBitoPro, Raj Chowdhury, commented, “Bitcoin’s boom is likely to create positive sentiment. It could drive more Indian traders into cryptocurrency trading. Our exchange has seen a huge increase in trading volume in the last 3 months. Moreover, with the bitcoin volume surging to its new all-time highs, the overall cryptocurrency trading volume additionally increased by 30%.”

Looking Forward

That said, the Bitcoin rally happens to be under the influence of institutions. Various small and medium-sized companies are investing a portion of their treasures and funds into Bitcoin and other cryptocurrencies. Therefore, considering and facilitating cryptocurrencies as a payment alternative can also bring more credibility to Bitcoin and other cryptocurrencies.

Also Read: Global Exchange PayBitoPro Brings Referral Program to Traders in India