Categories: BitcoinNews

“How to Invest in Bitcoin” was the Fifth Most Searched Term by Indians This Year

The Central Bank of India may have restricted banks from operating with Cryptocurrency exchanges but the public interest on Bitcoin is higher than ever.

Google India released the top search trends of the past year on December 12th where the question “How to invest in Bitcoin” ranked fifth in the “How To” queries.

Here are the Top Searches:

Image Source: Google

India not only has the largest youth population in the world but also has a booming internet market. So naturally, there has been a lot of interest in Cryptocurrencies like Bitcoin. Even though India does not have large volumes when it comes to Crypto trading there is enormous traffic coming from the country to Crypto related queries and websites.

Tough Regulatory Scenario

One of the reasons why there is not much trading activity going on in India is because of the fear and uncertainties around regulations on Cryptocurrencies.

The Reserve Bank of India banned all the banks from dealing with Cryptocurrency related exchanges and businesses back in April this year. The liquidity in many of exchanges dried up after the ban causing a lot of panic among users. Currently, some exchanges are enabling trading through P2P transfers or innovative ways using stable coins.

The general sentiment among Indian citizens is that Bitcoin is used for money laundering or for other illegal activities. Due to misinformation spread by the mainstream media a lot of people even think that the government has completely banned Cryptocurrencies which is not true.

This has not stopped Indian developers and entrepreneurs educating themselves and building on public and private Blockchains like Ethereum/Hyperledger. A recent report shows that India has the second largest base of Blockchain developers in the world after the United States.

Blockmanity’s Take

Clearly, there is interest in India for Cryptocurrencies and Blockchain technology, especially by the Millenials. Due to regulatory hurdles Cryptocurrencies haven’t reached mainstream yet but when it does there will be a booming Crypto ecosystem in India just like the internet.


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Shrikar Parashar

Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.

Share
Published by
Shrikar Parashar

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago