How to protect the amount of your money so that it is not devalued in India?
The bitcoin currency serves as an escape valve for those citizens of India tired of the effects of demonetization and not being able to have investment instruments to preserve their heritage in their own currency. In recent months, India has occupied the first places with greater transactions of the call cryptocurrency.
This virtual currency seems to be the new instrument that defeats the rupiah in India, impacted in recent years by high inflation with a high rate. The Indians need to have a more solid heritage and found in bitcoin how to maintain the value of their money independently. The interest of the Indians in this monetary revolution that is the bitcoin is evidenced in the exponential increase that has been registered in the last years in the operations with the electronic money. According to data provided by LocalBitcoins, a technology platform that offers the p2p bitcoin exchange service, operations in India passed the experts' expectations in a big way.
This country continues to lead the number of bitcoins buying and selling transactions among Asian countries. Bitcoin has generated much debate in India because of the factors associated with the risk of its reputation for potential electronic fraud. The governmental entities have expressed with some reservation and are formulating control mechanisms to include among its rules the way to regulate this type of instrument. Several countries have also begun to create regulations to prevent illegal transactions with this currency such as money laundering.
But this does not seem to concern the citizens of India at all, who have understood that buying bitcoins can protect their heritage in a stronger currency and that has become the future of international operations, that is, it serves to give feasibility of foreign trade.
The success of bitcoin in the case of India can be explained through a response for those traders who are able to generate savings to invest in an investment option that safeguards their purchasing power, to have value reserves and of course without having to suffer by the monetary control mechanisms of the government.