Demand to make Bitcoin a reserve asset in India intensifies, know which cryptos are worth buying at this time
The attitude towards cryptocurrency in India is now changing rapidly. The country which was till now considered a staunch opponent of crypto, is now demanding to make crypto a reserve asset in the same country. The special thing is that this demand has not been made by any external organization or crypto enthusiast, but by Pradeep Bhandari, the national spokesperson of the ruling party BJP.
Bhandari has said in an article written in India Today that India is “at a critical juncture” and needs economic strength, in which bitcoin can prove to be a game changer. With this one statement itself, it has become clear that even crypto-skeptical countries like India are now taking digital assets seriously.
India’s crypto policy needs clarity
There is currently a big contradiction regarding crypto in India. The government has neither made it completely legal nor banned it completely. But a 30% tax has been imposed on it, which has cooled the enthusiasm of investors.
Not only this, due to this uncertainty, many people are resorting to P2P i.e. peer-to-peer methods, which has increased the risk of fraud. According to Bhandari, the potential of crypto in India is very high, but for this the policy has to be made transparent.
It is worth noting that India has been part of a crypto working group with the IMF during its presidency of the G20, which shows that India can play an important role in crypto at the global level. But this is possible only when India itself adopts digital assets.
Bitcoin price stable, is it the right time to invest?
Bitcoin (BTC) is currently stable at the level of $107,000. In such a situation, signals in support of crypto from a big country like India are considered very positive for the market. If the world’s largest democracy and most populous country adopts crypto, it can revolutionize the South Asian markets.
So let’s know about some of the top crypto projects, which can be very attractive for investment in the current environment:
- Best Wallet Token – New but Powerful Wallet Token
As new investors in India enter crypto, the biggest need will be accessibility i.e. easy-to-use platforms. Best Wallet Token meets this need.
It is a decentralized wallet that supports more than 60 blockchains and has now included Bitcoin as well. It features token launchpad, NFT marketplace, iGaming features, and staking.
Its developers constantly interact with the community and guide through YouTube tutorials, making it very easy to use. More than $13 million has been raised in its presale so far.
- BTC Bull – Social Token Linked to Bitcoin
BTC Bull Token is a social token that aims to bring the spirit of Bitcoin’s bull run to the meme token space. Its most special features are:
Auto Token Burn and
Bitcoin Airdrops – every time BTC makes a new high.
This way the project can become an extension of the BTC ecosystem, and as Bitcoin grows, BTC bulls will also benefit.
- Bitcoin Hyper – A Meme Coin Full of Utility
Bitcoin Hyper is one of the few meme coins that focuses on technology, not just jokes. Its main purpose is:
To be a Layer-2 scaling solution for the Bitcoin network
To bring Smart Contracts and NFTs to the BTC network
For this, it uses three major technologies:
Solana Virtual Machine (SVM)
Canonical Bridge
Off-chain transaction system
Its theme is in Pepe + superhero style, which may also be liked by meme coin fans.
Result – Is it time to invest?
India and crypto’s relationship is now at a new turn. The positive tone coming from the government is indicating that the mindset towards crypto is changing.
Although there has been no official announcement yet whether India will include Bitcoin in the reserve or not, but it is certain that the atmosphere has been created now.
So if you are thinking of stepping into crypto, then this may be the right time to invest quickly in projects like Best Wallet Token, BTC Bull, and Bitcoin Hyper.
Disclaimer: This article is provided by a commercial partner and the views expressed in it do not reflect the opinion of The Cryptonomist. Crypto investments are subject to risk, please do your research before investing.