⭐ Features Andrew Strogoff

NEO Trading Guide For Beginners

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NEO trading guide, main features of the cryptocurrency, and why NEO attracts investors’ attention
NEO Trading Guide For Beginners
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NEO is a ratherpopular cryptocurrency that attracts investors’ attention. This crypto entered the top 20 and stays there. Daily volumes are high as well as the liquidity. We are going to figure out the reasons for such popularity and cover them main aspects influencing NEO’s price in this guide.

The roots of NEO Blockchain

Nowadays, NEO is the first Chinese Blockchain with an open source code. It was launched in August 2017. However, the history of this project started earlier, three years ago in 2014.

Da Hongfei, founder of this Blockchain established the Onchain company AntShares. This project had its own crypto ANS, which is abbreviation from AntShares.  

The main task of Onchain was to create a totally new financial service, which would connect virtual and real economics. The main tools for this are smart contracts. ANS was initially designed to be payment mean for smart contracts.

Later, developers decided to rebrand their product and have written new technical docs, changed their website and conducted an ICO. According to the developers, NEO is able to beat Ethereum.

How does it work

The main goal of the company is to create an economic model (so-called Smart Economy) including three main features:

  1. Platform for smart contracts execution
  2. Digital assets
  3. Digital Identification

You can digitize your real estate documents and sell it using cryptocurrency without mediators. Developers underline that NEO allows to digitize and exchange different types of assets including gold, cars, houses etc. The only thing you need to do is to connect them with digital assets and to make an appropriate smart contract.

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NEO main advantages and disadvantages

NEO offers the following advantages to all users:

  1. Special Virtual Machine. It allows businesses to create complex smart contracts. The network has high speed allowing to conduct 10,000 transactions per second. However, tested speed does not exceed 1,000 TPS. Anyway, this is far faster than within the Ripple network where the speed is 70 TPS or within Ethereum system with 30 TPS capacity.
  2. High security level. NEO uses dBFT protocol, which protects the system from the majority of cyberattacks.
  3. Smart contracts are easy to set up. NEO supports several programming languages including Java, C#, F#, VB.Net, Go, Python. Ethereum, for example, uses a very complex language Solidity.
  4. Commissions free service. Those who hold NEO on their wallets are given GAS (utility token to conduct transactions) for free.
  5. Mining free system. There is no traditional mining within NEO network as the system is based on Proof of Stake meaning no significant expenditures for ASICS or graphic cards are needed to earn NEO coins.

Have this system any issues? Are there any disadvantages of the project? Sure there are several. Find them below:

  1. ThebNEO community is disappointed with lack of anonymity. Developers think that there should be no anonymity and all the transactions should be transparent. Onchain has direct access to the transactions history. Developers control over 60 percent of all Blockchain nodes in the system.
  2. Lack of decentralization. The above mentioned 60 percent of all nodes controlled by NEO team means that the system is more centralized than decentralized. NEO plans to cooperate with Chinese government and this is the main reason why there will be no anonymity or decentralization.

How to mine NEO

Those who want to trade NEO, need to know that this coin has no mining procedure. We have already mentioned this above. The project use Proof of Stake consensus mechanism instead. The main feature of PoS is that it requires no computational power. Users need to run nodes instead.

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The total emission of NEO is 100 mln units. It is already distributed among investors and developers team. There will be no new coins but “stakers” will have an opportunity to earn. There are GAS tokens inside of the system and those who stake NEO within their wallets will be given this inner utility token.

History of NEO price changes

The first significant price growth was fixed during rebranding after transfer from ANS to NEO. Currency reached seven USD and later went upwards again and reached $30-$40. Investors were interested in NEO as developers started to cooperate with Microsoft and develop a new operational Blockchain based system.

NEO’s capitalization reached $2 mln in August 2017 but one month later the Chinese government banned all ICOs and obliged the company to give the money back to investors. This money flow lead to price decline. NEO costed $7 per coin again.

Team worked on the project and managed to win back their previous positions. They have started cooperation with governmental bodies, listed NEO on Bitfinex and created the next generation NEO 2.0 platform, which may adopt for different services including banking payment systems.

GAS was listed at Poloniex on September 2017. This fact allowed NEO stakers to earn money on tokens that are automatically transferred to their wallets. The price of GAS was even higher than $50.

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Factors affecting NEO price

One of the most important factors why several coins’ price grows is their inflation model. Limited emission will likely to create rise of demand in future. How does this work? In time, the number of businesses will increase and this will create additional demand on NEO. The price is likely to rise in this case.

However, there are many other things that may positively or negatively influence NEO’s price. They are the following:

  1. General situation in the industry. When Bitcoin goes upwards and the other cryptos follow it, we can say that the general market situation is positive.
  2. News and events. Positive news from NEO team as well as new partners are likely to increase coin’s price. However, bad news may lead to the controversial result and to press the currency down.
  3. Experts and community opinion. NEO benefited from many famous crypto industry experts in the past. Community criticize the team, but remains loyal to the coin as NEO has shown great result as compared to other projects.
  4. Decisions of different governments on cryptocurrencies and ICOs. The more countries will adopt them, the more the price of the coin will be.

The main differences between NEO and Ethereum

Those who want to start NEO trading need to know, that this crypto differs from Ethereum. There are several aspects including consensus mechanism that are worth attention. The first main aspect is protocol.

Ethereum uses Proof of Work protocol (the same consensus mechanism that is used in Bitcoin). NEO is based on Proof Stake. The main disadvantages of Proof of Work are known but we are going to refresh them again.

Experts say that Proof of Work systems “eat” to much electricity. This is true as mining rigs are huge nowadays and they consumer much energy. However, Ethereum is going to transfer to Proof of Stake in the nearest future.

Another difference between Ethereum and NEO is transaction speed. NEO works on Proof of Stake, which allow to conduct more transactions per second than within Ethereum network. NEO allows to conduct 10,000 TPS as we had already mentioned previously. However, in practice, NEO users do only 1,000 TPS as compared to Ethereum’s 15 TPS.

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This huge difference is the main advantage of NEO over Ethereum. However, NEO is less decentralized as Ethereum is. In addition, Buterin and his team are working on improving the network and those plans are included into the roadmap already.

Another big difference is in forks and scalability. Ethereum allows to create forks while there is no such an opportunity in NEO. Onchain coin has its finality meaning the information that is written once will not be changed. This is a huge advantage for future users especially for big businesses and financial markets.

Reasons to invest in NEO

Why do traders and investors buy NEO? There are several reasons for this. They are the following:

  1. NEO offers innovative technologies, which allow to make this platform outdated.
  2. This project allows users to work with smart contracts, which are treated by many experts as future of blockchain technology.
  3. Among partners and investors, we can see famous companies including Alibaba, Microsoft, LegalChain, Wings. NEO is currently working on creation of NEST FOUND foundation, which is likely to attract even more investments in this project.
  4. Onchain make attempts to legalize cryptos and has all chances to become the official mean of payment in China. This is one of the hugest markets in the world.
  5. NEO increases its capitalization and holds its position in the top 20.

NEO trading and technical analysis

Most of time traders who prefer NEO investments and speculative games use technical analysis in order to predict coins’ price. Market participants often use the whole set of tools in order to find entry points.

The first thing to do when using technical analysis is to find closest levels in order to understand where the price is likely to stop and to reverse in the nearest future.

The next step is to find trends if there is one. You can use trend line or MA’s with different periods to do this. Finally, you can use other indicators or price action patterns in order to find entry points.

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Brief guide on how to start NEO trading

Now it is time to sum up and to give the latest recommendations before you are going to start NEO trading. There are several steps to do before placing your first order. Here they are:

  1. Find an exchange where you can trade NEO. Nowadays, there are several trading places where you can buy and sell the coin. You can choose between Binance, Cryptopia, Bitfinex, HitBTC, Livecoin, KuCoin, Bittrex. Before you make your final decision, pay attention at the liquidity, the security level and the fees that you will have pay when depositing or withdrawing money as well as when trading. Those figures may differ significantly.
  2. The second step is to take a decision. You can analyze news, pay attention to technical factors and use all your tools in order to find entry points.
  3. Risk and money management. Every professional trader has its own money and risk management strategy. Plan your trades in advance, protect your risks and calculate your profits.
  4. Choose order type. There are several orders that one can use nowadays. The easiest one is the market order, which allows you to open trades at the current market price. However, in many cases it is better to use limit orders, for example, in order to trade with better price.

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⭐ Features Stavros Georgiadis

Tron Price Prediction 2019 – A Bottom at $0.0255 Has Formed. Will It Last in February?

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Tron (TRX) has a 1-year performance of about -34%, which is much better compared to the collapse of prices of other cryptocurrencies
Tron Price Prediction 2019 – A Bottom at $0.0255 Has Formed. Will It Last in February?
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Tron Price Prediction 2019 – A Bottom at $0.0255 Has Formed. Will It Last in February?

Tron (TRX) has a 1-year performance of about -34%, which is much better compared to the collapse of prices of other cryptocurrencies. In fact, Tron has a year-to-date performance of +35.94%. In this article we will mention some Tron price prediction ranges from various sources, plus we will make our own Tron price prediction for February 2019 based on our technical analysis. Some key stats for Tron as of Feb. 2, 2019 are the following:

  • Price of Tron (TRX) is $0,026339
  • Market Cap: $1.755.963.777 USD, 503.847 BTC
  • Volume (24h): $200.614.221 USD, 57.563 BTC 
  • Circulating Supply: 66.666.917.581 TRX
  • Total Supply: 99.266.129.237 TRX
  • Rank 8 on CoinMarketCap based on top 100 cryptocurrencies by market capitalization

Tron price prediction February 2019 based on various sources

What are some Tron price prediction opinions?

  • WalletInvestor is pessimistic about the price of Tron in the long-term, but according to its forecast trend line the price of Tron may be above $0.030 in February 2019. It has a Tron price prediction for the next 14 days as $0.0331 USD to the upside and $0.0256 to the downside.
  • PrevisioniBitcoin is bullish on Tron, estimating that it will have a minimum price of $0.030 in February 2019.
  • CoinFan makes the following Tron price prediction range. A minimum price of $0.051126476 and a maximum price of $0.069171114. This seems to be a very optimistic price forecast as the minimum price is almost 96% above the current price of about $0.02633 as of February 2, 2019.
  • DigitalCoin only provides as a forecast the price of $0.03284536.
  • ExpressTricks has a Tron price prediction of $0.50 for February 2019, another very optimistic forecast.
  • CryptoGround is on the other side of forecasts, with a conservative Tron price prediction of $0.0270 for a time period of one month, a return of +1.79%.

Tron price prediction based on technical analysis

What does the weekly and daily chart for Tron tell us trying to make a forecast for February 2019? We will examine the two charts, trying to make an unbiased Tron price prediction for February 2019.

Tron price prediction based on weekly chart
Tron price prediction based on weekly chart
Tron price forecast based on daily chart
Tron price forecast based on daily chart

The two scenarios, the optimistic and the pessimistic ones, bullish and bearish for the price of Tron in February 2019 can provide some possible ranges.

Tron price February 2019 prediction bullish scenario

A very positive note is that both on the daily and weekly chart there is a trend shift from downward to upward. On the daily chart the price made a bottom around the level of $0.011, retested the low level of $0.012 and made a nice rally up to the level of $0.036 on January 10, 2019.

The price of $0.0257 as of Feb. 10, 2019 is above the 50-day and the 20-day exponential daily moving averages. The fact that both these moving averages are trending up is positive for the price of Tron. It means buying pressure. On the weekly chart the MACD indicator is trending up, and its histogram is positive, Momentum indicator is rising, and price is above the 50-period and 20-period exponential moving averages.

Switching back to the daily chart, the ADX/DMI indicator shows a strong trend and the +DI line is above the -DI line, with values of 25.41 and 20.20 respectively. A first target price is the upper daily Bollinger band at $0.029. Next potential targets would be the high prices of $0.0312 and the recent high price of $0.036.the 20-day exponential moving period with a value of $0.026, where current price of Tron is now, should provide a strong support.

Tron price prediction February 2019 bearish scenario

On the weekly chart the level of $0.0296 is a very strong resistance. Other strong levels od resistance are $0.0279, and $0.0288. On the daily chart the MACD indicator has made a bearish crossover, the Momentum indicator has lost its upward direction and now is pointing down, and there are strong levels of resistance at $0.0264, $0.027 and $0.0275. If the current uptrend is to pause and reverse, then possible targets are $0.0243, $0.0237 which coincides with the 50-day exponential moving average and then $0.022.

Traders should monitor the trendline that extends from the low price of $0.0127 on Jan.10, 2019 to the high price of $0.0263 as of Feb. 2, 2019. If this trendline does not hold as support, then lower prices are very likely.

For February 2019 we prefer the bullish scenario, as odds are for now in favor of it. As always it is not an investment recommendation, just an analysis and a forecast.

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⭐ Features Yuri Molchan

Is Tron Merely Another Pump and Dump Project? An Interview with Crypto Chico, ‘Truth Lover’ and ‘I-Dotter’ Regarding Crypto Projects

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Tyler Swope, also known as Crypto Chico, shares his personal vision of the Tron project on the particular case of the BTT ICO that happened on Binance the other day
Is Tron Merely Another Pump and Dump Project? An Interview with Crypto Chico, ‘Truth Lover’ and ‘I-Dotter’ Regarding Crypto Projects
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On Wednesday, Jan. 30, Tyler Swope, nicknamed Crypto Chico, published a YouTube video claiming Tron and Binance plotted to grab some money by launching the BTT token on Binance Launchpad. U.Today prepared a news story, reporting this untypical point of view regarding Tron, Binance and their CEOs.

We have gotten in touch with Tyler Swope and asked him to clarify his position regarding Tron and their marketing strategy in particular.

‘I swear to tell truth, the whole truth and nothing but the truth’

U.Today: Why are there so many crypto communities on Twitter who have a negative opinion about you?

Tyler S.: They have negative opinions on me cause I tell the truth of what goes on in crypto, and the truth hurts the most.

‘Tron is nothing but a pump and dump scheme’

U.Today: Tron has been making a lot of progress recently, having taken on several big games, including TronGoo (formerly EtherGoo) and MMORPG KuaiXiYou. It has managed to advance from beyond the top-ten list of crypto assets inside it pretty quickly, raising its market cap.

On dappradar.com many of the top ten dApps, those that show a great cash flow, are Tron-based, and none are powered by its rival Ethereum, for example.

Is Tron Merely Another Pump and Dump Project? An Interview with Crypto Chico, ‘Truth Lover’ and ‘I-Dotter’ Regarding Crypto Projects

Still, in the video about BitTorrent you poured some harsh criticism on Tron and Binance, along with their CEOs. What is the reason you are publicly criticizing those projects?

Tyler S.: Because it was an obvious pump and dump, marketing ploy and I would like the public to know this.

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‘Justin Sun is no relative of mine’

U.Today: How are you connected with the Telegram channel ‘TRON (TRX) Announcements’, which posted a link to your video and claims that they know what indeed is happening with Tron?

Tyler S.: I have no connection to them and never heard of them before in my life before 30 January 2019.

‘Crypto market is irrational’

U.Today: What do you think the future of Tron is, in light of your video regarding the BTT ICO? Does it have any chance of reaching the list of the top-four coins in 2019, as Justin Sun promised?

Tyler S.: No, I don't believe it does, but who knows, this market is irrational.

‘Deceptive marketing tactics’

U.Today:  How can Tron be so popular with the community and dApp developers if you claim that Tron’s code contains a great number of bugs?

Tyler S.: They used deceptive marketing tactics and any good developer is not building on Tron. I used open source tools SonarCloud and SonarQube, you can check for yourself.

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⭐ Features Darryn Pollock

Bitcoin Obituaries Keep Rising But Why Is Bitcoin Still Not Dead?

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Bitcoin has been pronounced dead multiple times in its 10-year life; its recent fall brought about another obituary, but why is it that Bitcoin is NOT dead?
Bitcoin Obituaries Keep Rising But Why Is Bitcoin Still Not Dead?
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A popular site called 99Bitcoins keeps a close eye on the number of times that Bitcoin has been declared dead in the mainstream media. Currently, it has accrued 336 obituaries for the digital currency.

The latest drop in the price of Bitcoin, which took it from the mid-$6,000 mark down to near on $3,000, sparked fresh panic and capitulation as many believed that the cryptocurrency had had its last days.

There were concerns over its utility and usefulness, as well as the potential for a so-called death spiral in the mining of Bitcoin as many miners shut up shop. Yet, Bitcoin continues to exist, and at time of writing, has bounced back to over $4,000.

So what is it that is keeping Bitcoin alive? It has no CEO, no company headquarters, and because of its decentralised nature, has no one to drive it to keep it alive; it relies solely on those who are interested in it.

The underlying blockchain

Bitcoin, or cryptocurrencies in general, have a very special relationship to their underlying technology, blockchain. They are of course dependent on each other to operate, but they also move independently of each other in many respects.

Blockchain is advancing in a very different path to that of Bitcoin, but it was Bitcoin’s initial explosion in the mainstream financial space that made people take blockchain seriously.

Now that the cryptocurrency bubble has essentially burst, there is a lot less hype and interest in it. However, blockchain, the technology behind it all, is getting a chance to come out and shine for its technological reasons alone.

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For this reason, Bitcoin is still very much relevant. Blockchain progression is building steadily, and solidly, and because of its adoption across all centres, people still appreciate the usefulness of a digital token.

Bitcoin, as the major digital token that encapsulates all the main points of cryptocurrency and blockchain — such as decentralisation and transparency, and of course distribution — is the epitome of a functioning token economy.

Manageable mining

Another reason why Bitcoin hasn’t totally capitulated is because of its built in mining difficulty adjustment. Many people feared that Bitcoin could go under if the miners, an important part of any proof-of-work cryptocurrency, decided to abandon Bitcoin because of the increased difficulty and the loss of profitability.

Indeed, when the price dropped significantly in November, many miners did shut down and the hash rate also fell. But, because Bitcoin has a built in adjustment, the lower hash rate caused the mining difficulty to increase, and thus caused profitability to increase again, enticing miners back.

With more miners mining, there was increased health and activity on the blockchain, which leads to better interest and investment in the markets. This, in turn and in a compound way, then helps boost the price and drive more miners back in, again increasing profit and price.

Shedding the speculators

There is also a big difference between a burst speculative bubble and the death of a market. Some markets can be destroyed by the bubble pop, but in the case of Bitcoin, it is mirroring the dot com bubble because it has a similar nature.

With its underlying blockchain equitable to the internet, and the ICO hype and other factors equitable to Dot Com companies, one can see that this type of burst bubble is a chance for Bitcoin to shed its foolish speculative investors, and allow for those who are serious and successful to rebuild the market based on the important technology underneath.

Bitcoin will continue to be called dead, and erroneously so because it has only hit the mainstream in the last 18 months or so.

However, if one is to zoom out a bit, one would see that an investor who bought Bitcoin two years ago rather than, say, one year ago, would still be over 300 percent up on their investment.

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⭐ Features Guest Author

GameCredits Bittrex Review: The Detailed Guide for Beginners

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GameCredits (GAME) is an in-game payment platform that is poised to become a major disruptor in the multibillion-dollar gaming industry
GameCredits Bittrex Review: The Detailed Guide for Beginners
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GAME (a.k.a. GameCredits) is an innovative cryptocurrency that has been very popular within the international gaming community. Thanks to the recent strategic partnerships with Microsoft and Xsolla, the team behind GAME crypto managed to achieve the incredible leap in promotion of this cryptocurrency.

Why should you exchange GameCredits on Bittrex?

There are so many exchange services out there. Why should you use the services of Bittrex in order to exchange or trade your GAME coins? The main advantage for beginners — Bittrex has never been hacked unlike other large platforms. Since 2017 all user accounts of this U.S. exchange service are solidly protected.

Also, this project implements the multi-level wallets strategy. About 90% of customer funds are stored offline. 2-factor authorization is offered for users (in particular, for withdrawal of their funds from wallets). If it is not activated, the exchange sets certain limits on withdrawals.

Features of Bittrex for GAME users

Bittrex offers a modern trading platform that is always accessible offline. If you type GAME in the search field on the main page, you will instantly see the chart with prices changing in real time. For example, currently (5th December 2018) you may see that the price of 1 GAME in the pair USD/GAME on Bittrex is $0.07.

Below the chart is a window with platform’s apps. The platform is designed for both beginners and experienced traders. You may check the possibility of a thorough technical analysis of any assets using technical indicators is implemented.

By default, an algorithm for calculating volumes is set straight on the chart of GAME/USD and GAME/BTC. The site features 450 currency pairs traded with Bitcoin. There are quite good trading opportunities with both BTC and ETH for GAME owners.

However, Bittrex does not have currency pairs with fiat money. Buying Bitcoin, Ethereum or Tether is possible by bank transfer. In order to use this service, you must pass the account verification. Traders have the opportunity to open different types of orders.

For example, they can buy GAME and other available assets at the market price or choose pending orders for the purchase of a particular cryptocurrency at the desired value. The only drawback - Bittrex does not offer any margin trading.

Deposit and withdrawal of GAME funds of the Bittrex exchange provides wide opportunities for those who want to replenish their account and withdraw money from it with GAME cryptocurrency. Two stages of verification actually mean that the base level is the inclusion of 2FA and filling in the "About me" fields. To withdraw more money (more than 4 BTC), full verification is required.

Currently, there are two types of accounts on Bittrex:

  • Basic. Users provide name, address of residence, indicate the date of birth. This data is verified through open sources (social networks, for example). However, if security officers of the company fail to verify the information, more detailed verification will already be required with the participation of the user;

  • Advanced. To open such accounts, the user must provide scanned copies of identification documents along with a selfie attached;

How to buy and sell GAME on Bittrex?

According to almost any user’s review of GameCredits on Bittrex, the website offers the opportunity to trade market and limit orders. The first allows you to buy a cryptocurrency at the current price at which it is offered on the market.

Let’s suppose, GAME coin is worth $1. A user wants to buy it and is ready to pay that price. In this case, he chooses a market order, enters the volume of the transaction and presses the “Buy” button. If the user already has bitcoins and he wants to sell them, at the same time, the current price on the market fully suits him, this can also be done by placing a market order, only for sale.

Fees for services here are considered average for the global market. Bittrex charges 0.25% commission for all transactions. At the same time, payments from traders can be reduced depending on the time of the user’s trading status.

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⭐ Features Joseph Young

Gov’t of India Reportedly Plans to Regulate Crypto, What’s the Motive?

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The government of India is exploring the possibility of legalizing crypto and regulating exchanges
Gov’t of India Reportedly Plans to Regulate Crypto, What’s the Motive?
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Several local publications have reported that the government of India is exploring the possibility of regulating crypto.

At an official government meeting hosted by the interdisciplinary committee, a task force led by members of the Ministry of Economics and information Technology and the Ministry of Home Affairs, the committee ruled in favor of regulating cryptocurrencies with strict policies.

Sudden Change in Stance Toward Crypto

In April, the Reserve Bank of India (RBI) imposed a blanket ban on cryptocurrency trading, prohibiting the country’s financial institutions from dealing with cryptocurrency-related businesses.

The unexpected ban on cryptocurrency exchanges implemented by the country’s central bank effectively disallowed trading platforms from obtaining banking services from local financial institutions.

Several exchanges tried to pivot to cryptocurrency-to-cryptocurrency trading but with the dominance of Binance, OKEx, Huobi, and other crypto-only exchanges, local digital asset trading platforms failed to compete and shut down their businesses.

At the time, the RBI threatened to end its relationship with any local bank that deals with digital asset exchanges. A circular released by the central bank read:

“In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs (virtual currencies). Regulated entities which already provide such services shall exit the relationship within a specified time.”

In July, industry leaders, associations, and companies challenged the controversial decision of the RBI by filing a complaint with the Supreme Court of India. Within several months after the filing, the court ruled in favor of the RBI, allowing the central bank to impose a ban on cryptocurrency trading.

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However, on December 26, a senior government official told The New Indian Express in an interview that the government believes cryptocurrencies cannot be dismissed as illegal currencies and the asset class has to be regulated with strict policies.

“We have already had two meetings. There is a general consensus that cryptocurrency cannot be dismissed as completely illegal. It needs to be legalised with strong riders. Deliberations are on. We will have more clarity soon,” the official said.

The change in the stance toward cryptocurrencies from the government of India likely comes from its acknowledgement of the risk in unregulated cryptocurrency trading. By placing a ban on digital asset exchanges, it forced investors out of a self-regulated market to unregulated peer-to-peer and over-the-counter markets that are difficult to regulate and monitor.

If the intent of the government is to prevent money laundering through the usage of cryptocurrencies, a more effective way of doing so is to allow cryptocurrency trading on exchanges with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) systems in place.

When Could It Take Place?

Many reports were released in the past anticipating the legalization of cryptocurrencies by the government of India. Yet, the government showed no signs of regulating the asset class in the past 12 months.

With the G20 agreeing to regulate cryptocurrencies to crack down on money laundering, India, which is a part of the G20, could follow the global trend of regulating the asset class.

Given the history of India in the cryptocurrency sector, it may take several months to potentially years before cryptocurrency trading is revitalized and completely legalized with stable banking services provided by local financial institutions.

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