India Bans Cryptocurrencies And Will Create Its Own Virtual Currency

India Bans Cryptocurrencies And Will Create Its Own Virtual Currency

India is definitely getting ready to ban the crypto currencies. Both the private ones of foreign digital companies and the best known, Bitcoin. The will ban even the one announced by Facebook that will debut soon. India Bans Cryptocurrencies And Will Create Its Own Virtual Currency.

In this way, the country defined that all type of activity related to these circuits will be considered “criminal”. With severe fines and penalties of up to ten years in prison”.

India Bans Cryptocurrencies And Will Create Its Own Virtual Currency
Woman holding a BTC coin.

The information was confirmed with the document presented to the government by the Interministerial Committee appointed at the end of 2017.

According to the Economic Times, in parallel to this decision, the Indian Central Bank would develop an official digital currency model to introduce in the country. But under the control of the central banking entity and with regulations determined by an entity in charge.

India Bans Cryptocurrencies And Will Create Its Own Virtual Currency

It goes up to the maximum, it goes down noisily and now it goes up again. We are talking about the bitcoin price, the main decentralized virtual currency, which skyrocketed during the last few weeks, passing over 10,000 dollars for the first time since September. Is once again on an upward trend, although with irregular setbacks that mark an unstable path for the digital currency.

India Bans Cryptocurrencies And Will Create Its Own Virtual Currency
India Bans Cryptocurrencies And Will Create Its Own Virtual Currency.

The agency Markets.com does not rule out that “the rage over this cryptocurrency will come back with everything” although for analyst Neil Wilson, however, “there are no fundamental elements to explain this shot.

The bitcoin had already gained 10% last week,” recalled the financial analyst. Since the beginning of April, the virtual currency gained 70%. All this after going through the first quarter of the year between 3,500 and 4,000 dollars.

Despite the escalation, it is worth remembering that it is still far from the historic maximum reaching in December 2017, when the bitcoin reached 19,511 dollars, generating a strong impact on the stock market.

Five assets

The world of investment changes little by little. Especially now that technological changes are so sudden and that thousands of new investors have the opportunity to operate in these markets hand in hand with online trading platforms.

Fifteen years ago there were few who could trade in lifetime currencies. While today anyone can in a few clicks buy Ethereum, one of the main alternatives to Bitcoin. That’s how big the changes have been in recent decades.

These are some of the other assets you may not have known about:

Altcoins

All those cryptocurrencies that are not Bitcoin are known by the name of altcoins. Created by the curious and unknown character behind the name of Satoshi Nakamoto, the BTC was the first cryptocurrency in history and, since then, is also the best known. However, there are other alternatives.

Altcoins.

Today you can operate in hundreds of different crypto currencies. Many of them with a great reputation and future prospects, such as Ethereum, Ripple, Bitcoin Cash or Dash.

Some of them were born as forks (a kind of split of Bitcoin) and others as independent projects. But, all have the same goal: to oust the BTC from the leadership in the sector.

Heating oil

Although it may seem strange, one of the most common assets on the raw material lists is heating oil. Consumed mainly in the northernmost countries of the northern hemisphere, the value of this asset is – as is logical – closely linked to the value of the two reference barrels of the world market: that of Brent and WTI (Western Texas Intermediate).

In order to operate on the price of heating oil, the most usual thing is to do it through derivative financial products such as CFDs or futures contracts.

However, it must always be borne in mind that these are leveraged products with enormous financial risk.

ETFs

ETF stands for Exchange Traded Fund and is often referred to as quoted funds. These are collective investment institutions with the aim of reproducing an index when investing.

In other words, by investing in one of them, the trader is operating on the global assets that are part of the index in question, either the Ibex 35 or the NASDAQ 100.

They offer great liquidity, as well as the possibility of diversifying and creating good financial hedging options.

Cannabis companies

Canopy Growth, Aurora Cannabis or Cannabis Sativa are just some of the companies that have emerged strongly since 2018 in the world cannabis market.

In fact, such has been the power of their irruption that even the sector has its own stock market index: the North American Marijuana Index, which groups all the firms in the field of cannabis.

Exotic currencies

India Bans Cryptocurrencies And Will Create Its Own Virtual Currency
Altcoins and BTC.

In the Forex or foreign exchange market you can trade any international currency that you can imagine. And, therefore, here come into play numerous assets of which we may not have heard their name in life.

They are the exotic currencies. Those that are not part of the select group led by the US dollar, euro, British pound and Japanese yen.

The disadvantage or point in favor of these currencies is that they tend to be linked to economies and governments with much less stability than the major world economies offer.

Thus, their volatility can be gigantic and offer both deep profits and deep losses. Is it worth the risk?

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