Poorer Countries Aren’t Trading Crypto as Much

By Maheen Hernandez June 2, 2019 0

Different people have different opinions about cryptocurrency; however, when it comes to real-time usage, those opinions are irrelevant.  The regulators stepping in makes all the difference.  The complete lack of government regulation is what made cryptocurrency attractive.

There is consistent fear among investors that the SEC would interfere in every aspect of cryptocurrency in the name of regulation and make cryptocurrencies ultimately not useful for the purpose it was primarily invented for.

Although the market continues to move in a certain direction, investors expect some new movements in the price direction for one reason or the other.  They keep watching whether the price trends are moving in ranges.

Countries in the brink of recession have pushed the price of cryptocurrencies like Bitcoin to highs in terms of price and volume.  This has as well increased the amount of TCAT tokens and other smaller coins. Profit takers in the cryptocurrency have a method of making money from the bear and bull markets as they understand the pulse of the market.

Leverage traders are often looking at the worth of trade action. They decide whether they need to try harder or stop where they depend upon the market trend. People go, and people come depending upon their market sentiments.

Tyrone Ross stated, “The selling in bitcoin got exhausted last year, and people started to come back in around $4,000.”

Even in those countries where the cryptocurrency trading is blocked, there are Virtual Private Networks (VPNs) which makes the IP address to be coming from some other country.

However, a recent study has revealed that “Data shows poorer countries aren’t trading crypto as much as wealthier countries.”

Indian cryptocurrency regulation is ready.  It will soon be submitted to the Finance Minister for approval.

Subhash Chandra Garg reportedly stated, “On the cryptocurrency regulation, Garg said the report is ready.”

Garg, the head of the interministerial committee in India, which has been studying the different aspects of the cryptocurrency, drafted the crypto regulation.

Given the pseudo-anonymous nature of the cryptocurrency is not possible to accurately decide on how many people are using it and where they can be possibly located.

The current and potential users of cryptocurrency are using it with due vigilance against crypto firms.  Several countries with significant cash challenges are taking up pro-crypto position for several reasons.  This, they are doing it to preserve the value of the individual asset and to face the cash challenges of the country.