Crypto trading booms in India's interiors as job growth and incomes disappoint
Nagose has bought and sold stock options earlier but is now venturing into cryptocurrencies as regulators have made it harder to trade equity derivatives in India. The 28-year-old believes the red-hot crypto asset class can help shield his family-owned flower shop during downturns.
«I want to run my family shop, and hope that trading can provide a steady income when business slows down, like in the month after (the Hindu festival of) Diwali,» he said, seated at the storefront surrounded by bunches of red roses and orange marigolds.
Newfound crypto enthusiasts in India such as Nagose have helped grow cumulative trading volumes of bitcoin, ethereum, dogecoin and other cryptocurrencies on four of its largest exchanges more than two-fold quarter-on-quarter to $1.9 billion in the October-December quarter, according to data from aggregator CoinGecko.
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View Details»Many young Indians are dabbling in crypto trading to supplement their regular income in the world's most populous country where jobs and pay increases have lagged world-beating economic
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