India's young investors prefer bitcoin to gold and 'boring' stocks

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India has seen a massive boom in cryptocurrency trading since the start of the pandemic, even though authorities in Asia's third largest economy have for years expressed concerns about digital currencies, and even flirted with a ban.

New Delhi Indian businesswoman Swati Daga first bought bitcoin in 2017, when the cryptocurrency was trading well under $3,000. Her decision to invest in digital currencies was met with wariness by her family, she recalls.

"The elders in my family told me not to throw my money away," said Daga, who runs a food business near New Delhi.But the 33-year-old hasn't regretted her decision — bitcoin's value has increased 15 times since then — and she continues to invest as much as 10% of her savings in cryptocurrencies, including bitcoin and ethereum.

 

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They banned cryptos like 5 times in India. They lie about banning it to scare people away. India works on a class system and it will be bad to see poor kids getting wealthy.

Russians are going to lean on crypto which makes the currency's future very dicey. Regulation is almost inevitable ...

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