The cryptocurrency market in India is booming day by day. The year 2021 witnessed a massive explosion in crypto investors in the country. Also, the number of centralized and decentralized crypto exchanges operating here has increased in the past few years. Currently, India boasts to have the highest number of crypto investors in the world. Whether bitcoin, ethereum, or Tron, all popular cryptocurrencies are being accepted as the mainstream future money.
Want to know what are the most popular cryptocurrencies trending in India right now? Keep reading as we attempt to provide an insight into most of them.
#1. Bitcoin / BTC:
Every cryptocurrency story begins with the introduction of bitcoin. It is one of the largest traded cryptocurrencies in India. Additionally, India has the highest number of bitcoin investors globally. Despite restrictions from the Reserve Bank of India, bitcoin demand kept on growing. BTC to INR exchange value of 1 bitcoin has always been around or above Rs 35 lakhs. Moreover, keeping in view its limited supply of 21 million, people in India are eager to exploit its benefits.
#2. Ethereum / ETH:
Ethereum is the second most popular cryptocurrency after bitcoin. Lately, the technology behind this cryptocurrency has found increased use across several industries. Ethereum has led to innovations in blockchain applications. Apart from facilitating the creation of decentralized applications, the Ether token minted from Ethereum blockchain is used as NFTs (non-fungible tokens) as well.
#3. Tron / TRX:
Tron has been launched with an aim to decentralize entertainment and content sharing. While BTC can handle six transactions per second, and ETH up to 25 transactions per second, TRON is capable of processing 2000 transactions per second.
It has a capacity of 100 billion tokens which allow content creators to connect directly with their audience. By ousting the role of middlemen or platforms like app stores, streaming services, or music platforms, TRX ensures to make content cheaper while maximizing the profits for creators.
Tron to INR average exchange rate as of today is Rs. 5. 24.
#4. Ripple / XRP:
Ripple’s native cryptocurrency XRP aims to address the existing challenges of cross-border payments. RippleNet provides an enhanced payment system that can process payments globally in a fraction of seconds. Plus, it facilitates an appreciable level of transparency. This high-performance payment framework is based on a decentralized infrastructure that enables developers and entrepreneurs to build real-world payment solutions on the XRP ledger.
#5. Cardano / ADA:
The unique highlight of this cryptocurrency is that it is environmentally conscious in contrast to other crypto assets. Incorporating advanced innovation techniques, this cryptocurrency employs an energy-intensive mining process. The Cardano blockchain can support NFTs and decentralized finance applications. Considering its spontaneous use in real-life cases, Cardano’s price is increasing consistently.
Conclusion
With the rising popularity of cryptocurrencies in India, investing and trading in them has become much easier and hassle-free. The aforementioned cryptocurrencies are just a few handpicked options. Apart from these, you have a lot of options capable of offering lucrative returns.