India Setting a Precedent for th Future of Economy Through Bitcoin

Bitcoin exchange markets across the world continue to rise and attract more and more people into investing in Bitcoin, and even more people into considering it or even aspiring to doing so (Given that costs of Bitcoin are significant, and individuals with fixed incomes might be unable to opt into the market). This is a reality in many countries, namely India, who has hosted a massive cryptocurrency revolution.

Bitcoin has not only established itself inside India’s socio-economic structure, but it created the proverbial ‘piece of land’ it conquered inside India’s Bitcoin market. Millions of people that frequently use Bitcoin exchanges rated as the best Bitcoin exchanges in India (like Zebpay, Coinsecure or Bitxoxo, for example) to buy Bitcoins are individuals that were completely unbanked until the recent introduction of Bitcoin into the mainstream of India’s economic landscape.

It has proven to be highly profitable for plenty of people. Namely Bitcoin start-ups that have grown and evolved from humble beginnings to being worldwide favorites like Zebpay, who are ranked in the Top 10 in apple’s finance story inside the play store.

Many times have an array of Indian business gurus, (of which there isn’t a shortage of given that India hosts hundreds of companies ranked among the biggest in the world and has, on top of that, one of the biggest populations on the planet, making it one of the biggest markets in the world) have come down inconsistently on both sides of the issue, whether the Bitcoin market is unsustainable or not, whether crashes in prices are part of its rise or not. This means that the potential ubiquitous adoption of a new currency across India could set a historically significant precedent. India’s infamous precarious conditions on their society make it so that the automatic argument is that, if India can adapt a cryptocurrency into its economy, and do it in a way that helps it evolve and put itself on par with advanced nations, then advanced nations have no excuse not to seriously entertain the possibility of following suit.

Does Bitcoin’s Utility Give it its value?

As the bitcoin exchange market becomes something much more accessible to the public after being a thing that alienated most people, the more people are wondering about the origin of Bitcoin's intimidatingly high valuation that has governments welcoming it into its economies after their populations adopt it; best exemplified by the market of bitcoin exchange in India, where people use their preferred option of the best bitcoin exchange in India to sell Bitcoin in India.

For example, New York Times writer Paul Krugman has said “To become successful, currency has to be both a ways of exchange and a reliably stable store of value. Yet it’s uncertain why Bitcoin should be a reliable store of value,” Krugman writes. “I have had and am continuing to have a dialogue with smart technologists who are very high on Bitcoin – but asked to explain Bitcoin as a reliable store of value, they only answer with ravings about how Bitcoin is a great exchange method. Even if I buy this (which I don’t, entirely), it doesn’t solve my problem.”

Krugman is far from being alone on this, and, actually, many people reckon that it is Bitcoin's utility to be the origin of its intrinsic value. A very sensible conclusion to come to after going down that rabbit hole of pondering, given that many things have an intrinsic value that depends upon its own utility, and that includes the classic backer of the dollar, gold.

There are even writers that take the angle of proclaiming that Bitcoin's one and only intrinsic value lies isolated in its utility. John Kelleher, a freelance web developer has written for Investopedia and said "Bitcoin’s utility as a store of value is dependent on its utility as a medium of exchange. This is based on the premise that in order for an asset to be a valid store of value it must have a perceived quality of intrinsic value, and bitcoin could have no practical utility and therefore no intrinsic value, making it unappealing as a store of value; this is speculating on the assumption that Bitcoin doesn’t manage to be successful as a medium of exchange.

Trading in Bitcoin

Any person who has exchanged one currency into another, let’s say Euros into Dollars, knows that most would expect the rate of exchange to be very similar and almost equivalent most of the time, and, taking that into consideration it’s that much easier to understand the popularity Bitcoin is enjoying at the moment. The value of one bitcoin, the best Bitcoin rate, is currently over $2,400. So, if people are wondering, it is, indeed, a good time to opt in on the cryptocurrency trade.

Getting rid of fees in exchange rates is but a single feature that is of massive appeal of digital cryptocurrencies like Bitcoin. Not only middlemen in the form of credit card companies or the irking nature of PayPal’s retention of assets in transaction fees. Annoyances of trading for each trip on holiday; it’s really all a thing of the past when there’s a readily available global currency.

More importantly, and more appealing to some in this era of leaks, hacks and rampant identity thefts, Bitcoin has an anonymous nature. So a person looking to sell Bitcoins in India through a Bitcoin exchange in India, could, very well, end up trading with another in Brazil if they can’t find (or don’t want to find) someone in their direct vicinity to trade with.

However, there is a major risk for Bitcoin. The price fluctuates so heavily, so quickly that it does put a lot of people off, since everywhere in the world people pursue stability and reliability as their very first economic goal, and people trying to achieve that thing might be put off by just how volatile the valuation of Bitcoin rises and falls sometimes, at times doing it quite dramatically.

In the case of people seeking a more user friendly interaction, Bitcoin exchange services like Coinbase would probably be ideal as it’s through it’s smartphone app. Akin to online & mobile banking, through this, you can buy and sell and monitor transactions while you’re out and about. Coinbase is a service that, if you wouldn’t want another third party to be granted access to your assets, you would probably be quite happy with.

How Can I Change My Bitcoins to Local Coin?

     The world has been innovating in its financial systems and cryptocurrencies have been a great way to invest money for millions of people. But there are still people who once invest their money do not know how to change it to local currency to perform operations with them. There are actually several ways to change Bitcoins to dollars or Euros. However, there are some more effective and safer than others.

     There are factors that must be taken into account when making these changes. Security and commissions. On the one hand, getting to know the Bitcoin Exchange is essential for us to feel secure and on the other hand to ensure that those sites do not generate so many commissions to make a good profit. For example, Best Bitcoin Exchange in India, Bitxoxo, does not charge commissions for this type of transactions.

     To change Bitcoins to dollars to any other local currency can be done through Payza, Neteller or another electronic payment agency that is affiliated with Bitcoin. Payza and Paypal pay transactions from Bitxoxo. Other of the Best Bitcoin Exchange also allow to be able to be exchanged the Bitcoins to local currency. Simply having an account in any electronic payment system will be directed towards the option of "Add Funds" and will appear a bar where they must place the amount of Bitcoins they wish to change. Then select the currency to which you prefer to change and click on "Deposit" or "Change". After this, the platform will generate a security code that we must enter to confirm the operation. Once confirmed the transaction we make the deposit in the electronic account and we will have our cryptocurrencies converted to our local currency.

     The rates of the digital currency will always be up to date. Best Bitcoin Rate is seen in India, Japan, and Australia. In a country with Best Bitcoin Rate, of course, the gains to change will be much more.

     The different Bitcoin Exchanges are also very important to consider since they do not all charge the same commissions. Bitxoxo is highly recommended in India and is one of the Best Bitcoin Exchange in India. So if you already want to start changing your cryptocurrencies for the local currency you can follow the steps or seek help through other websites where they can explain specifically to you according to the electronic wallet platform that you use.

Indian Government Can´t Stop Cryptocurrency

     Since a few years ago in India, they have been performing operations with cryptocurrencies. In the past month, the government has carried out surveys to know the opinion of citizens about digital coins, especially Bitcoin, which is the most used in the country and in the world.

     The government was interested in investigating the digital currency because it noticed that more people are every day than Buy Bitcoin in India. Thousands of people decide to invest thousands of rupees daily in the cryptocurrency and in that way generate more money by exchanging them for other currencies around the world or simply by saving in a currency whose value does not depend on systems of government.

     The people of India have known to recognize that the financial world is being captivated by digital coins and do not want to stay in the past. That's why businessmen and senior finance officers Buy Bitcoin in India in turn to carry out transactions worldwide and make their businesses or businesses continue to grow.

     For the country's Ministry of Finance, it has been a challenge to apply some measure to the digital currency. Every day more Bitcoin Exchange in India and this makes its prohibition less laudable. Bitxoxo, one of the most recognized in the country have about 3800 registered users in its database. Through it, Bitcoin users make the operations, transfers, sales or purchase of cryptocurrencies much faster and in a safe way. Bitxoxo is preferred among many Bitcoin Exchange. ZebPay or UnoCoin are some of their strongest skills, however, people in India have shown a preference for Bitxoxo.

     Not all people can Buy Bitcoin in India. Although their use is neither regulated nor prohibited, for some people it is very difficult to get the money to invest in the digital currency. In addition to this India remains a country with many economic resources but with a slow development. Its diverse economy allows people to invest Bitcoin in different areas and direct their financial resources in the way that best suits them. A reality for the government and people of India is that they will not be able to stop the expansion and recognition of the digital currency in the country and in the whole world. Definitely the cryptocurrency is giving of that to speak.

Is the US Government Trying to Prevent Americans from buying Bitcoins?

The bitcoin exchange market is already thriving, and considering that in September of last year, a U.S. federal judge ruled that, “Bitcoins are funds within the plain meaning of that term”. Many countries are taking steps to incorporate bitcoin exchange into their economy.

However, in the United States, there currently are capital controls and a “foreign account tax compliance act”, discouraging banks from servicing Americans who deal with bitcoin exchanges overseas as well as resorting to legal action to drop clients who do so. 

No exchange outside of the US will accept Americans as clients. They’ll accept North Koreans, Chinese, Indians, Russians, but not Americans. And due to all the regulations, it is incredibly hard to operate a bitcoin exchange in the U.S.

Until recently there was only one option, Coinbase. To be fair to them, a lot of issues with the exchange are due to the myriad of rules and regulation enforced in the US and no the company itself. This has led to countless complaints about how difficult it is to open an account n Coinbase, many even saying that it’s as difficult as opening a bank account; which usually requires a stack of documents. There have also been countless reports of Coinbase closing accounts without reasons or notice, and reports of their banks closing their accounts when they noticed they were doing business with Coinbase.

Matters were made worse, when late last year, the IRS requested a John Doe summons as part of the Bitcoin extortion evasion probe seeking to identify all Coinbase users in the US who ‘conducted transactions in a convertible virtual currency’. 

The US federal government is currently pushing a bill called “Combatting money laundering, terrorist financing and counterfeiting act 2017.” This bill takes a further step to target bitcoin and wants to put any business which issues cryptocurrency under this umbrella of anti money laundering regulations. 

As you can see, trying to do anything related to bitcoin in the United States of America is seemingly increasingly difficult.  This combined with the SEC turning down a bitcoin ETF has ensured that many Americans missed out on massive gains in the rise of Bitcoin in the last year.

Investing in Bitcoin is wonderful

     Investments in Bitcoin are giving much to talk around the world. Hundreds of people have become millionaires by investing in cryptocurrency. For some years when the digital currency was born in 2009 many did not feel safe to trust this new type of digital currency. However, those who dared assure that they made the best investment of their lives. These people who bought Bitcoins when it was only worth a few dollars testify that years later they sold part of their investment and they managed to obtain an extraordinary fortune.

     Certified testimonials ensure that a person can become a millionaire when buying Bitcoin. If cryptocurrency continues to grow as it is doing and increasing its popularity worldwide it is very likely that thousands of people will increase their revenues by selling Bitcoin over the next few years.

     In this year Bitcoin increased the number of its users in a great way. The high prices it has reached have attracted the attention of thousands of people around the world. Despite having had ups and downs in recent months has managed to maintain a stable range. Bitcoin price is currently at $ 2700. A bit lower than its previous one recorded that it was $ 2900, but analysts and economists say cryptocurrency will continue to rise.

     The people who receive Bitcoin as a payment method are ensuring a great profit in the future allowing it to spread and grow as a merchant, as a person or as a company. Every day more people buy Bitcoin in the world investing in better future for their lives. Users in the world Send Bitcoin to another countries making Bitcoin Exchange or simply helping their colleagues or family members to invest in the digital currency. If people send Bitcoin to other people it is because they are sure and really want the person who is going to receive Bitcoin to be of total confidence and to give a good use to the digital currency.

     Bitcoin Exchange is growing in number and quantity, that is, every day more transacts

ions with Bitcoin and extremely large amounts. The people who bought Bitcoin a few years ago and decided to sell them now must be very satisfied with their profits since when they invested they only spent a few hundred dollars and now they are earning thousands.

Why people look for bitcoin?

     Money will always be involved in people's daily lives. Although for many it is not of much interest it is necessary to survive in today's world. The evolution of money has been surprising and very changeable. Today there is a revolution in the world of finance and is the implementation of digital coins.

     Cryptocurrencies have shown that people can exchange money without having to use a system of exchange controls or change the currencies for those of other countries. The world's most popular digital currency, Bitcoin, is being used and implemented in hundreds of countries. Bitcoin exchanges have given the facility to thousands of people to interact and generate extra income in different parts of the world.

     Best Bitcoin Exchange in India is some of the most popular all over the world. Best Bitcoin Rate allows users to make millions in transactions in India and anywhere in the world. Bitcoin, the most sought-after cryptocurrency daily by people has given much to talk about and its great statistics have made it the most popular among all digital coins.

     There are many platforms where Best Bitcoin Exchanges are made. Unocoin and Bitxoxo are some of the most popular but the country where Best Bitcoin Exchange is made is in Japan where the use of digital currency throughout the national territory is also legalized. Other countries like Australia and Spain have also been investing in cryptocurrency and have legalized their use in several cities. Many people have decided to invest in Bitcoin as an opportunity for financial and personal growth. Large investors have opted for cryptocurrency based on their steady increases that they have made a great investment. Last week Bitcoin obtained one of the highest prices reaching $ 2950.00 dollars. Very striking price for the whole world.

     Digital currencies have revolutionized the world, and even analysts predict that this could mean the extinction of cash and the globalization of a currency globally. Bitcoin still has a long way to go. The fight with some governments is still strong but is managing to position itself with confidence and security before all possible scenarios that may arise.

How is Bitcoin better tan Currency?

As currencies are seeing themselves more than stretched thin by their limitations in the current global economy, there are people championing the new cryptocurrency as an new answer to old problems.

One of these people is none other than Bill Gates, the richest man in the world. About bitcoin, Gates states: “Bitcoin is exciting because it shows how cheap it can be. It is better than currency in that you don’t have to be physically in the same place, and, of course, for large transactions, things can get really inconvenient.”

Bitcoin is fundamentally different because in bitcoin you don’t owe anyone anything and nobody owes you anything, it’s not a system based on that. It’s a system based on ownership, a system that can’t be censored, a system that can’t be seized and no one can freeze it.

Bitcoin is a decentralized that utilizes peer to peer networking along with digital signatures and crypto graphics to generate currency. With traditional money, like Euro, Dollars, you have a central bank, like the federal reserve, that issue currency and print more cash as they see fit, but this isn’t a possibility with bitcoin. This captures the interest of people who are aware of alternative currencies, as government cannot come in a shut down the bitcoin server, and would instead have to turn off the electricity grid or end the internet in order to stop the internet from running. 

And, considering it, as many have considered it to be, the new gold, it is significantly superior when simply accounting for the logistics of gold trading vs bitcoin exchange of buying and selling bitcoin. There are companies like Bitxoxo were a simple set of clicks can initiate and conclude a transaction, but, with gold, if a person were to attempt to transport gold from a country to another, it would cost a great amount of money, accounting for armed guards and weight tariffs on the gold itself.

As bitcoin becomes a brand new currency and, even if bitcoin doesn’t establish itself as the paragon of cryptocurrencies, the future of economics is definitely still in cryptocurrencies.