Future of bitcoin in India 2022 –25
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| Bitcoin - future |
In this post we are going to read, future of crypto currency in India,
future of bitcoin in India 2022 – 2025, is bitcoin legal in India or not ?
Cryptocurrencies are a different world in themselves. Whenever we take
the name of cryptocurrency, the first name that comes to our mind is bitcoin.
Do you know why this is so. Because the world was the first to explain the
meaning of crypto to bitcoin. Before knowing the future of bitcoin in India, we
have to know what will be the future of cryptocurrency ?
The future of bitcoin 2022.
Update: - The future
of bitcoin in India is now almost clear. On 1 February 2022, the Finance
Minister in Parliament on the imposition of 30% tax on crypto currency and
virtual property and its mention in the budget makes it clear that crypto will
not be completely banned in India.
But the government also made it clear that if you lose
money by investing in crypto, then the people themselves will be responsible
for it. The government will not make any kind of payment for this. But if you
earn profit from crypto, then the government will take 30% of it from you as
tax.
Finance Minister Smt. Nirmala Sitharaman
You must have seen that as soon as the news about the
Indian government’s cryptocurrency bill came in the media, there was a huge
drop in price of bitcoin. Before this statement, a bitcoin was worth about Rs
49 lakhs, which has now come down to 37 lakhs. Hope it goes below 30 lakhs as
well.
If the Indian government does not ban bitcoin in this
bill, then by the end of 2022, a bitcoin can be worth about 1 crore. Experts
say that the biggest reason for the increase in its value is the companies
selling bitcoins, which are constantly encouraging people to buy bitcoins
through advertisements.
Since December 8, 2021, the effect of the protests on
gas prices in Kazakhstan is beyond the reach of bitcoin. The effect of which
you can also see from the fall in the price of bitcoin.
This protest has already seen a drop of up to 8% of
the price of bitcoin. Experts believe that the price of bitcoin may fall
further this year in 2022.
Protests and riots have not stopped in Kazakhstan till
8 January 2022. It is hoped that soon these riots will end.
You are wondering what is the relationship between the
price of bitcoin and Kazakhstan?
Cnbc is a very big news agency. And according to one
of their reports, the Internet has been shut down in the whole country by the
President of Kazakhstan. About 15% of the world’s bitcoins are mined in
Kazakhstan.
After sacking his government and requesting the aid of
Russian paratroopers to contain the fatal violence, president Kazakh President
Kassym- Jiomart-Tokayev ordered the nation’s telecom provider to shutter
internet service. That shutdown took an estimated 15% of the world’s bitcoin
miners offline, according to Kevin Zhang of digital currency company Founder,
which helped bring over $400 million of mining equipment into North America.
Source :- cnbc.com
Now these mining farms are closed due to non-availability
of internet. The effect of which you are getting to see in the price of
bitcoin. Kazakhstan’s mining farms have started reopening after 5 days. But
with this, talk has started in the Parliament of Russia and America on the law
to ban or control crypto.
However, Russia has completely banned crypto mining
and crypto currency in its country. Along with this, Iran has also banned
crypto mining in its country for 3 months. You must have seen a huge drop in
the price of bitcoin due to the continuous reaction of all these countries
together.
There are many reasons for this. Which we have
discussed above and also discussed below. One of the main reasons for this is
the imposition of 30% tax on income from crypto by the Finance Minister of
India. The crypto exchange has talked about this thing being crypto legal. Due
to which there will be a confidence in the people, and the price of crypto will
definitely see a jump again.
Future of bitcoin in 2025.
Talking about 2025, experts believe that the growth of
bitcoin will not be as much as it is going to grow in 2022 alone. The main
reason for this is that there are already more than 300 cryptocurrency made by
Indians in India Big Bull Crypto Currency has been launched.
As soon as the crypto currency bill is passed by the
Indian Parliament, all these cryptocurrencies will compete to create their own
market. Due to which there will be a slight impact on the growth of bitcoin.
Then when the expert was asked what could be the price
of bitcoin in 2025. Experts believe that by 2025 the price of one bitcoin
can go up to 30 million.
Future of Cryptocurrency in India 2022
It is probably not possible to tell the exact future
of crypto currency, but people who are crypto currency experts believe that
crypto currency is the currency of the future. They also say that it will not
be surprising if crypto currency replaces the regular currency in the coming
future.
His reason behind saying this is Block Chain Technology and Decentralization, so let us understand in brief what is this Block Chain Technology, and what is decentralization?
What is Block Chain Technology?
As the name suggests, this block chain is made up of
two words.
- Block
- Chain
Block can mean a closed box. Whenever any new
information comes, it is put in a closed box and as soon as that box is filled
it is emphasized by another box. The work of connecting two boxes is done by
the technique of chain. In this way, the number of boxes gets blown up. They
get attached to each other. This technology is called Block Chain Technology.
The biggest advantage of this is that all the data
does not stay in one place. Due to which it is almost impossible to change
them. Because any person can change the data of one place, maybe change the
data of 10 places. But changing the data of millions of places is almost
impossible for any person.
Due to this new and advanced technology, it is
considered completely hacking proof, which definitely gives a confidence to the
investor.
What is Decentralization?
Till now whatever currency we have been using, they
are run by the government of some country or the other. Like Rupee in India,
Dollar in America and in different countries they run different currencies and
people use them.
In this the movement of currency completely depends on
the government. The government can print currency whenever it wants, due to
which the value of rupee can fall. Or it may be that only some currency notes
should be closed. For example, 500 and 1000 rupee notes were discontinued by
the Modi government in India. If seen in this way, the government keeps
complete control of the currency with itself.
But this is not the case in decentralization. No one
owns crypto currency. It is run from the computer of people like us. Programs
are preloaded in the computer and they continue to do their work. Who gave how
much to whom, how much was taken, every transaction is looked after by the
computer itself.
In this way, they cannot come under the pressure of
the government of any country. Due to which the money invested by the investor
will always be safe.
Bitcoin is legal or not in India?
Update:- On 1
February 2022, in the Indian Parliament, Finance Minister Nirmala Sitharaman ji
imposed a tax of 30% on income from cryptocurrency. You will have to pay this
tax on crypto or any kind of virtual income.
Example:- Suppose you invest 10000 Indian rupees in
crypto. After a year or in a few months, your 10000 rupees became equal to
110000 rupees. This means you made a profit of Rs 100000. Now you have to give
30% of 100000 of this profit, you will have to pay 30000 rupees to the
Government of India as income tax.
Big crypto exchange companies are calling this step
good for crypto. And they believe that the Indian government gas legalized
crypto from the back door. But it is not like that at all. But one thing is
clear that the Indian government is not going to completely ban crypto.
Bitcoin or crypto currency is a completely new
technology. And the Indian Constitution was written about 75 years ago. It was
almost impossible to even imagine this type of technology at that time. So till
now there are no laws in our country related to crypto currency or bitcoin.
If there are no laws against anything in the country.
And started questioning something whether it is legal or not. Then these
decisions completely depend on the government. Till the time of writing this
post, there has been no instructions from the government about whether bitcoin
is legal or illegal.
Until some instruction comes, it is automatically
assumed that these things are legal or illegal.
Hope you have got complete and correct information. If
you have any question or suggestion related to crypto currency or bitcoin, then
definitely write in the comment box below.
Warning: - Through this post we not advising to invest
in crypto or bitcoin. Investing in crypto currency is subject to risks. So
invest your money with your intelligence and discretion. We are not responsible
in any way for your profit or loss when you invest in crypto.
Frequently Asked Questions Related to Crypto Currency or Bitcoin :- (FAQ)
Is it right to invest in crypto currency?
Investing in crypto currency is subject to risks. It
completely depends on your discretion.
Which crypto currency app is legal in India?
All the apps are recognized by the Government of
India.
Which crypto currency will reach profit in the next 7
days?
There is no exact answer to this, which will bring
profit only. But you can understand by reading crypto charts.
If the volume of crypto increases, does the price also
increase?
If you are increasing the volume of crypto with you by
buying, then the price / price will also increase. But if the volume of crypto
currency is increased, then the price will come down.
Which country invests the most money in crypto?
Japan (76.7%) people have invested in crypto.
by Mr R.K.Singh