What are India’s 10 Most Popular Cryptocurrency Choices?
Cryptocurrency investments have grown exponentially in India.
The year 2021 has been an eventful year for the cryptocurrency industry in India. Bitcoin hit all-new records taking the crypto market to all new highs as Ethereum and the other altcoins recorded bullish rallies one after the other. According to reports, crypto adoption has gained an exponential pace in India. Even the tier-2 and tier-3 cities have indicated wider acceptability for digital currencies. And this growth is occurring despite the fact that there are no regulatory measures yet taken by the government. In fact, in the winter session of the Parliament, last year, the RBI and other government officials from the finance department decided on banning all private cryptocurrencies, nevertheless, the final verdict has not yet been confirmed. It is safe to say that Indian investors have fallen in love with the idea of cryptocurrencies. In this article, we have listed the top cryptocurrencies that Indians love.
- Bitcoin: Bitcoin is the most popular cryptocurrency in India. It is one of the many reasons why it is the longest-standing and the most trusted crypto in India. Indian investors treat Bitcoin as digital gold, as it makes up 46% of the total crypto market cap. Its underlying technology promotes the development and its value spurs investment in other altcoins.
- Dogecoin: Dogecoin is one of the most popular meme coins in the crypto The coin was created as a parody, essentially to poke fun of the original Shiba Inu meme. Dogecoin showed its true potential back in 2020 when it was accepted as a payment model among sports and then entered the AMC theatres, along with Musk’s continuous support.
- Shiba Inu: Shiba Inu is another meme-based cryptocurrency. The reason it features in this list is due to its affordability. The meme coin quickly gained momentum and its value also rose among the investors due to its cute charm and supporting tweets from tech celebrities.
- Ethereum: Ethereum is a decentralized, open-source blockchain network that features its own cryptocurrency, Ether. ETH works as a platform for other cryptocurrencies, as well as for the execution of decentralized smart contracts.
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- Tether: As the name implies, Tether is pegged to the US dollar. It is the most popular stablecoin that is preferred by Indian investors. USDT was originally launched in 2014 as Realcoin, a second-layer cryptocurrency token built on top of Bitcoin’s blockchain with the help of an Omni platform.
- Cardano: Cardano is a proof-of-stake blockchain platform that states its primary aim to become innovators and visionaries. The crypto was founded back in 2017 and since then it has focused on redistributing powers to the common individuals from the unaccountable structures, to make transactions more transparent and fairer.
- Binance Coin: Binance operates as the largest cryptocurrency exchange in the global crypto market. The Binance Coin is also one of the largest crypto coins in the market. Investors who pay transaction fees with Binance Coin receive discounts, which also attract more customers towards it.
- Tron: Tron has the goal of decentralizing entertainment. It is a blockchain-based operating system that aims to ensure that the blockchain and crypto technology is suitable for daily use. Tron is also considered one of the most popular blockchains for creating DApps.
- Polygon: Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, which is a modular, flexible framework that supports building multiple types of applications.
- Solana: Solana is one of the best-performing cryptos in 2021. It is a highly functional open-source project that banks on blockchain technology due to its decentralized nature. The Solana protocol is designed to facilitate decentralized app creation.