Blockchain and cryptocurrency have attracted a lot of interest from investors and traders all over the world in the last few years. With the passage of time, Indians have also entered this industry, and we now have a slew of bitcoin influencers that promote the value and necessity of cryptocurrencies and have made money from their investments.
Some of these Indian figures have been crucial in educating the youth about blockchain and its uses, while others have been incredibly engaged in spreading crypto awareness. The most powerful Indians in the crypto/blockchain world, in our opinion.
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What is Cryptocurrency?
Digital currencies are referred to as cryptocurrencies. To conduct transactions and issue new “coins,” they use digital cryptography. Bitcoin and other cryptocurrencies are appealing because they are decentralized. In other words, neither banks nor governments have control over currency access. Governments and banks, on the other hand, can more easily influence fiat currency.
Altcoins are Bitcoin alternatives that number in the thousands. Bitcoin’s initial idea has been built upon other cryptocurrencies like Ethereum and Ripple, which have established variances in their currencies to support specialized uses. Meanwhile, visit this site to start trading cryptocurrency.
Crypto Adoption in India
For the cryptocurrency business in India, the year 2023 has been eventful. As Ethereum and other altcoins experienced bullish rallies one after another, Bitcoin set new records, propelling the crypto market to new highs. According to studies, the popularity of cryptocurrency in India has accelerated dramatically. Even tier-2 and tier-3 cities have shown that digital currencies are more widely accepted.
And this expansion is taking place despite the government’s lack of regulatory action. In reality, the RBI and other government officials from the finance department resolved to ban all private cryptocurrencies at the winter session of Parliament last year; however, the final decision has yet to be finalized. It is safe to assume that the concept of cryptocurrency has captivated Indian investors.
1. Balaji S. Srinivasan
Balaji S. Srinivasan, the former CTO of Coinbase, is an angel investor. Srinivasan was a Stanford University professor who also co-founded Counsyl, a genomics firm, with his graduate school classmates and brother Ramji. The company went on to become a major success, scanning the DNA of parents in 3% of all US births.
Srinivasan founded Earn.com, a Bitcoin mining company, shortly after Bitcoin was recognized. Earn.com was later purchased by Coinbase for an undisclosed sum of money, putting Srinivasan in a position as the company’s CTO alongside Coinbase CEO Brian Armstrong. He is, without a doubt, one of our country’s top crypto influencers.
2. Nischal Shetty
Nischal Shetty, the co-founder, and CEO of WazirX is a well-known blockchain and cryptocurrency influencer from India. He started his profession in 2004 as a software engineer. In 2017, at the time bitcoin was skyrocketing, his interest in Blockchain and cryptocurrency soared. He co-founded WazirX with Samir Mhatre and Siddharth Menon in 2018.
Nishcal led the #IndiaWantsCrypto campaign after the RBI banned cryptocurrency transactions through banking channels. The ban was eventually overturned by the Supreme Court, which ruled it unconstitutional.
3. Ajeet Khurana
Ajeet Khurana, India’s leading bitcoin player, wears numerous hats. He is an angel investor, mentor, TEDx speaker, author, and member of the NASSCOM Start-Up Warehouse steering team, among many other accomplishments. This Blockchain Expert and Entrepreneur previously served as the Chairman of India’s Blockchain and Cryptocurrency Committee. He was also the previous CEO of Zebpay, India’s first cryptocurrency exchange. His enthralling approach and passion for investing have made him a renowned TedX speaker and guest speaker for a variety of media outlets.
4. Vignesh Sundaresan
Vignesh Sundaresan, commonly known as MetaKovan, is a software engineer and Bitcoin billionaire from south India. Vignesh initially spent only approximately $5000, but his faith in Bitcoin was so strong that he continued to invest every last penny of his money and devoted all of his time to establishing Bitcoin companies. Vignesh Sundaresan is currently one of the few people who has made a large profit in the Bitcoin world.
5. Tanmay Bhat
Tanmay Bhat, a comedian, and YouTuber is a bitcoin investor. He has created multiple movies on various sorts of cryptocurrencies and frequently discusses them on social media, bringing attention to them. Tanmay is no longer simply a social media influencer but also an influencer in this particular industry, thanks to his knowledge and experience with crypto and Blockchain, as well as an influential audience.
4 Tips For Trading Cryptocurrency
The following cryptocurrency trading advice is not comprehensive and should not be considered professional investment advice.
1. Set a profit and loss goal for yourself
The easy but difficult thing to understand is when to exit a Bitcoin deal, whether it is profitable or not. Setting a stop loss level, which can aid in the reduction of losses, is a vital trait that all investors should possess. Profits are in a similar situation. Don’t become greedy; set a profit target as well to keep everything in check.
2. Keep an eye on your risks
Be intelligent enough not to chase after enormous riches but rather to stay put and collect small profits while continuing to trade cryptocurrency on a regular basis. In a less liquid market, it is a good idea to invest less of your capital.
3. Diversification is the only way to go
Because bitcoin is unpredictably volatile, diversification is the greatest approach to avoid certainties. When BTC depreciates against the dollar, all other coins depreciate as well, and vice versa. Diversification can be a fantastic tool for surviving in the cryptocurrency market in this situation.
4. Prioritize market capitalization over affordability
Beginners frequently make the mistake of purchasing a coin when the price is low. However, the market size should take precedence over affordability when deciding whether or not to invest in a currency. It is preferable to consider a coin’s market cap rather than its price to decide whether or not to invest in it. The larger a coin’s market capitalization is, the better it is for cryptocurrency trading.
Crypto is now part of popular culture, with Elon Musk perhaps its most well-known representative. India has taken another step toward establishing a favorable regulatory environment for its crypto markets, and the general public’s interest in crypto appears to have surged because of the above-mentioned crypto influencers.