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How lucrative is investing in cryptocurrencies?

DNMUM398526 | 10/13/2017 | Author : Praveenkumar Vijayakumar | WC :403

Personal Finance

With all the euphoria around bitcoin and cryptocurrencies, majority of the Indian traders and investors are yet to step into the cryptocurrency wagon. Today, cryptocurrencies, led by bitcoin, ether, etc are taking the financial world by storm as more people invest and buy these currencies. Currently, 1.2 million Indians have invested in cryptocurrencies and are starting to look at them as an alternative to gold during market volatility.
India saw a major spurt in the purchase of bitcoins post demonetization. The price of bitcoins surged from Rs 60,000 in January 2016 to Rs 300,000 in October 2017, marking a 500% return on investment. Some part of this price buoyancy in bitcoins can be attributed to market-making initiatives of I
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