Cryptocurrency is a digital currency that is used virtually as a medium of exchange between individuals. A cryptocurrency is designed through a strong computerized database that works as a medium of exchange between individuals. It exists in the virtual form and works as an asset. When particularly said it takes the form of virtual asset.
PayPal, Visa led $300 million in funds in Blockchain capitals- On June 22 Tuesday. Blockchain Capital, a Blockchainand Cryptocurrencyfocused on capital venture raised by $300 million fund of the investors. This also includes Visa Inc and PayPal Holdings Inc.
Blockchain Capital which invests in both the assets i.e Crypto and Equity assets said the investment will primarily focus on the infrastructure. It will also invest in the application of Blockchain technology, NFTS, DeFi (Decentralised Finance), and emerging applications of Blockchain technology. With a team of 15 members, Blockchain has made its mission of partnering with the industry’s leading founders to help them grow their businesses and protocols.
Global Cryptocurrency Market Rate touches $1.32 Trillion
Today’s global cryptocurrency market rate is $1.32 trillion. That means a 1.9 percent loss over yesterday. The volume over the last day is $93.69 billion. That is a 37.09 percent decrease within 24 hours. Today Bitcoin has lost about 4 percent in the last 24 hours followed by Ether that is over 6% below. While Dogecoin traded between 4 to 10 percent higher than the previous day.
According to The Economic Times, India would allow Bitcoin and other cryptocurrencies as an exchange for the tax. This is the tax that India imposes on foreign companies. It is the new equalization levy. The equalization levy is applied to the foreign companies that are operating in India.
According to the report, India’s income tax department is thinking of imposing a 2 percent equalization levy. This levy is to be imposed on overseas crypto trading. This equalization levy may cause subject disagreement between India and the G7 countries.
IANS Rapper Raftar has announced that he is going to accept Cryptocurrency instead of physical currency. And by this, he has become the first Indian artist to accept Cryptocurrency. This is according to a report by a news agency. He has already started talking crypto payments as his signing amount for his upcoming show in July. And he credited his manager Ankit Khanna for making arrangements for his performance fees.
The demand and the craze for Bitcoin have been aided by the constant support on social media. This support is from tech billionaire Elon Musk.
Fall OfBitcoin
Recently, the dramatic fall of Bitcoin has led the investor mentally ill and has shaken the Crypto Market. There was a dramatic fall of 1 Bitcoin by 50 percent between 15 April to 21 June. 1 Bitcoin value is equal to 2,434,551.95 Indian Rupee. The world’s best-performing asset Bitcoin has halved its value because of the crackdown in China. For the first time, Bitcoin has sleeping below $30,000. And the other currency Ethereum has made a gap of $2,000 mark. Bitcoin and a number of other Cryptocurrenciesused to be crashed last month. This was the result of the news of analysis in China and Tesla ownerElon Musk halting the usage of Bitcoin for a car purchase.
NaimishSanghvi’s view on the shaken Crypto Market
NaimishSanghvi, the founder of Coin Crunch India, is a Cryptocurrency enthusiast. He has reportedly said that Cryptocurrency is not for the faint-hearted person. He further stated that one has to be mentally prepared for the investment in the Crypto market. This is because there are possibilities near-zero levels price fall in this market. Sanghvi further says he believes more in judging the team than the white paper.
According to the report, there was an incident of breaking of this real estate-RupeshFirodiya, 28 years from Pune. In 2016 has invested Rs.1 lakh, in Bitcoin and other Cryptocurrencies through a company called GainBitcoin. It turned out to be a fraud. But he didn’t give up and further studied investing in Crypto and became wiser.
Now he owns a Crypto portfolio such as Bitcoin, Litecoin, Ethereum, and Ripple.
Women investors in the Indian Crypto market
According to the report of CoinSwitchKuber, women merely consist of 15 percent in the Crypto market. And that is very low. A large percentage of women believe in financial independence but lacks as an investor in the Crypto market. Cryptocurrency needs tech and finance knowledge and women in technology and finance are often overlooked in these sectors. Another theory states that women are more interested in the traditional form of investments rather the Cryptocurrency investments. In the year of 2020, the Cryptocurrency platform CoinSwitchKuber did witnessed a huge 1000 percent increase in the number of female user registration in the past year.
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