The Current State of Cryptocurrency In India And How The Future Looks For Investors And HODLers? – NDTV Profit
Web 3.0 will make the internet fully decentralised.
Many Web 3.0 projects and startups are emerging in India lately, and all thanks to the blockchain technology that has been playing a crucial role in making this happen seamlessly. We can say that, in the future, Web 3.0 will make the internet fully decentralised, which in turn will benefit the people as they will be able to access various services without any intermediary. Web 3.0 will be huge for creators as they will be able to cater the audience directly.
India: The Web 3.0 Hub!
There’s no denying that the internet today has become a very important part of our lives, and Web 2.0 applications can’t be thanked enough for this, as it has been one of the main reasons for our social revolution.
But the future will be all about Web 3.0 as after many years down the line, this evolution of the internet will impact every life and business in the world, and leading crypto exchanges like CoinSwitch will play a crucial role in this.
If you have been active around the crypto world, you must be knowing that Web 3.0 is more autonomous, intelligent, and open. It interconnects all the data in a decentralised way so that no one has one single authority.
India is slowly evolving into a Web 3.0 early adopter, and that is for the good of the people as it will completely transform how they do their jobs, create content, and learn new things. If Web 3.0 successfully makes its space in the country, more and more investor and entrepreneurs will want to invest and establish their businesses and reap the benefits of machine learning, artificial intelligence, and blockchain.
The urgency around Web 3.0 in India also expects to bring some relevant crypto assets to centre stage, as people will need to have a medium of exchange in the new ecosystems. And CoinSwitch, with its futuristic vision, will make it easier for its users to transact in cryptocurrencies and make systematic investments across all crypto assets.
The craze around Web 3.0 will surely drive the crypto rage in India further and farther because it will give the ownership and control of data back to the hands of the users and cut down the intermediaries and a few technology giants who have a lot of control over the internet.
Crypto Investment in India: How is it evolving?
Crypto investors and ‘hodlers’ in India have been through some tough times lately, as the Indian government brought new laws for crypto regulation. However, that has not changed their stand on crypto investment, and they remain upbeat and filled with optimism. And to support that claim, growing user volumes registered by leading crypto exchanges like the CoinSwitch are proof enough to believe that crypto investors and hodlers in the country still have faith in crypto’s future.
Also, now people are not just buying and selling tokens in the crypto space, instead, they have been extensively considering other options, too, like NFTs, metaverse-driven investments and DeFi-based investing, which is all set to revolutionise the financial industry. Let’s tell you a bit about all of these investing trends:
First, you must know that the term Non-Fungible means something that cannot be copied or replaced, as it is unique. And in the case of Non-Fungible Tokens (NFTs), we talk about the digital assets that cannot be duplicated and are exclusive. Every NFT is unique and can be sold or exchanged without causing a loss in value, which is great for investors. The NFT can be put up for sale on the NFT market, where anyone interested can purchase it easily.
Metaverse means a virtual world that lets users indulge in 3D virtual spaces and environments. And to your surprise, cryptocurrencies are the money of the metaverse. They are used to pay for everything you would want to buy in the metaverse like any NFTs, a bunch of LAND in Decentraland, tickets to a concert or even for buying clothes and shoes for your avatar.
DeFi-based investments like staking
So, if you are a long term investor in the crypto market, you can look at crypto staking. Staking will give you benefits of both capital appreciation and guaranteed rewards in return for your staked coins. And unlike crypto mining, it can be done by anyone by locking the crypto coins in a designated crypto wallet to support the network operations, and in return, the investor will receive block rewards in the form of newly minted coins.
Web 3.0 and other crypto investing trends have a lot of potential in India, and the country could attract more businesses and also lead the world in this space someday, perhaps. And India’s simplest and most trusted crypto app, CoinSwitch is ready to be a part of the evolution.
(Disclaimer: Coinswitch is an advertiser on the NDTV Network)
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)