India has been at the forefront of digital innovation for decades. Therefore, it is understandable that it is looking to be at the forefront as well with its revolutionary approach to blockchain.
Even though Indians crave the government’s introduction of exchanges and blockchain geared toward Indians, some serious holdups have put people on edge regarding the arrival of BTC and other crypto on the scene.
With a general absence of credible tokens in the Indian market, people have slowly started gravitating towards memecoins. Memecoins are like ‘currencified’ internet jokes that people trade like cryptocurrencies.
The best part about these tokens is their liquidity and the potential to grow at a meteoric pace. The prices of meme coins can rise meteorically in hours; the caveat is that they can fall equally or faster. Therefore, the volatility index of these coins is quite high and can make people.
Another appeal of memecoins for indians is that they are dirt cheap and offer tremendous ROIs. The general population of India will not be able to afford tokens like BTC, ETH, or XRP. Instead, they can go for tokens like Pepe or other meme coins.
Another interesting aspect of Indian crypto trading is its gambling methodology. Traders stake coins to earn profits. This is probably one of the most unique ways of trading on chain.
