Started in 2009 in the form of Bitcoin, more than 20,000 cryptocurrencies are available today in the crypto market. India is also showing a significant upsurge in the number of crypto investors. Cryptocurrency doesn’t require financial institutions to validate transactions. Transactions done in cryptocurrencies are not in the form of coins.
They are digital entries, including the details of the transaction. The public ledger is responsible for managing all the records of all Bitcoin transactions. Cryptocurrencies stay in Digital wallets
Only a few cryptocurrency exchanges are trading Bitcoins and other cryptocurrencies. More than 2,500 users trade Bitcoin daily, and the trading volume is increasing by almost $20 billion annually.
People are also talking about taking India’s stand on cryptocurrency that the Finance minister has taken for regulating crypto in India. This article will explain the list of cryptocurrencies in India and know all about cryptocurrency in India, along with understanding India’s stand on cryptocurrency.
List of Cryptocurrency in India
There are various cryptocurrencies in India. The table below for a list of cryptocurrency in India tell you all about cryptocurrency in India, including their symbols and current Market cap.
| S.no | Name | Symbol | Market cap |
| 1 | Bitcoin | BTC | $408.76B |
| 2 | Tether | USDT | $66.55B |
| 3 | Cardano | ADA | $12.19B |
| 4 | Shibu Inu | SHIB | $7.15B |
| 5 | Ethereum | ETH | $191.53B |
Let us know all about cryptocurrency in India. Here we have mentioned the details of the cryptocurrencies included in the list of Indian cryptocurrencies:
1. Bitcoin
Bitcoin is the leading and the most famous asset in the list of Indian cryptocurrencies. The store value of Bitcoin is very high, and it possesses a 21 million finite supply. Bitcoin is also known as “Digital Gold” as it provides high returns on investment.
2. Tether
Tether is one of the most stable cryptocurrencies, which also manages the token’s volatility. It can be pegged to fiat currencies, which is why it holds a high place in the list of Indian cryptocurrencies. Investors can also get Tether tokens that can be pegged into Yuan, gold, and Euro.
3. Cardano
Cardano is one of the viable alternatives to Ethereum and offers a platform for investors to develop an application. This application is decentralized with verifiable smart contracts. It also provides a multi-asset ledger system to the users, which is why it is one of the top lists of cryptocurrencies in India.
4. Shibu Inu
This is one of the leading cryptos in the list of cryptocurrencies in India, as investors use it as an alternative to Dogecoin. It is a meme coin which is an Ethereum-based altcoin.
5. Ethereum
Ethereum holds the position of the second-largest cryptocurrency in the list of Indian cryptocurrencies. It incorporates Open Sea, which is one of the largest NFT marketplaces in the universe of blockchain. Ethereum also offers a decentralized app to the users, which is powered by Smart contracts.
India’s Stand on Cryptocurrency
After knowing the list of cryptocurrencies in India, let’s proceed. India has seen more than 7 million investments in cryptocurrency in the last 10 years. Therefore, as India stands on cryptocurrency, RBI is coming up with a digital currency expected to use the private blockchain platform to reduce the transaction settlement process.
The Government of India wants to catch up in technology, so it plans to use blockchain technology and present India’s stand on cryptocurrency. It implies that cryptocurrencies are legal in India. Traders can buy Bitcoins and other cryptocurrencies mentioned in the list of Indian cryptocurrencies and start trading.
However, at present, India needs a regulatory framework for managing these cryptocurrencies. At the same time, the center is concerned about cryptocurrency’s misuse and, therefore, planning to ban it. It is because the government needs to learn more about cryptocurrency in India. So, it was the details of India’s stand on cryptocurrency.
Also Read: Virtual Currency in India
Conclusion
Trading in cryptocurrency is risky, so it is essential to carry out transactions using trusted platforms and all about cryptocurrency in India. I hope that this article has helped you to know the list of Indian cryptocurrencies and India’s stand on cryptocurrency.
Read More: Best Websites for Trading in India 2023
List of Indian Cryptocurrency – FAQs
What is a cryptocurrency, and list of Indian cryptocurrencies?
Ans. Digital money, known as cryptocurrency, is protected by cryptography to allow for secure transactions. Hundreds of different currencies are used, each created by one or more brilliant people. Cryptocurrency units are typically created by “miners” using powerful computers based on an algorithm that has been made public in advance. The list of Indian cryptocurrencies in the article above contains details about the top cryptos in India.
What is the purpose of cryptocurrency?
Ans. As with dollars and rupees, the original purpose of cryptocurrencies was as a form of inter-person payment. Its purpose was to make it simple and inexpensive to conduct online digital transactions compared to traditional banks.
What difficulties does cryptography face?
Ans. Key leakage, software problems, operating system flaws, side-channel assaults, phishing attempts, and social engineering are some of these failures. Therefore, it is crucial to realize and accept that encryption provides security. However, the repercussions of a cryptography failure can be disastrous. If you know all about cryptocurrency in India, it will help you face difficulties.
