Crypto trades buzzing despite ban fears

Indian investors continue investing in crypto assets such as Bitcoin and Ethereum despite a looming ban.

According to WazirX, the largest crypto exchange in India, it took 11 days to hit the billion-dollar mark in trading value in February, when compared with 25-30 days in January. The company expects to hit about 2.5X the $1.84 billion total trading value hit in January this month.

“Crypto is a global phenomenon. The moment a Tesla spends $1.5 billion, your wealth in India has increased. Most of your investments are very local, but in crypto, anyone anywhere in the world can affect your wealth. People in India have been joining based on all of this positive news that’s been coming,” said Nischal Shetty, founder of WazirX.