What are the reasons behind the increase in Indians moving billions through foreign exchanges for crypto?

3 answers

• Ronald Troya PalominoFeb 20, 2024 · a year ago
  The increase in Indians moving billions through foreign exchanges for crypto can be attributed to several factors. Firstly, the Indian government's strict regulations on cryptocurrency have limited the options for trading within the country. This has led many Indians to seek out foreign exchanges as a way to access a wider range of cryptocurrencies. Additionally, foreign exchanges often offer lower fees and better liquidity compared to Indian exchanges, making them more attractive to Indian traders. Lastly, the global nature of cryptocurrency allows Indians to easily participate in the international market and take advantage of opportunities for profit.
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• Jet LijftogtNov 09, 2024 · 9 months ago
  Indians are moving billions through foreign exchanges for crypto because they want to diversify their cryptocurrency holdings. By using foreign exchanges, Indians have access to a larger selection of cryptocurrencies, allowing them to spread their investments across different assets. This diversification strategy helps to mitigate risk and potentially increase returns. Furthermore, foreign exchanges often offer advanced trading features and tools that are not available on Indian exchanges, making them more appealing to experienced traders. Overall, Indians are turning to foreign exchanges to take advantage of the global cryptocurrency market and optimize their investment portfolios.
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• alexia fosterNov 16, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I have observed that Indians are increasingly using foreign exchanges for crypto due to the limitations imposed by Indian regulations. The Reserve Bank of India (RBI) has placed restrictions on banks and financial institutions from providing services to cryptocurrency exchanges, making it difficult for Indians to trade on local platforms. This has led to a surge in Indians using foreign exchanges to access a wider range of cryptocurrencies and take advantage of better trading conditions. However, it's important for Indian traders to exercise caution and conduct thorough research before using any foreign exchange to ensure the security of their funds.
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