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Why is cryptocurrency investment so popular in India? – Deutsche Welle

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Cryptocurrency is big in India. A recent report by a broker discovery and comparison platform revealed that the country has the highest number of cryptocurrency owners in the world. DW’s Manira Chaudhary reports.

Narendra Modi’s personal Twitter account was targeted by hackers who tweeted a link promising a Bitcoin giveaway. This comes as the government seeks to regulate cryptocurrency in the country.
After making Bitcoin legal tender in his country, Nayib Bukele aims to use a $1 billion bond sale to turn the fortunes of the economically depressed nation around. Stakes are high for the iconic leader and El Salvador.
India may ban the use of all cryptocurrencies, barring a few exceptions, if the government’s bill to “regulate” virtual money is cleared by parliament. The central bank plans to issue its own digital currency.
Most are worthless, but some sell for millions: Experts explain to DW what they know about the mysterious price of nonfungible tokens, and why this crypto-asset may have rough days ahead.
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