A large number of investors in market experts dealing in cryptocurrencies are considering it as the future of payments. Now, bitcoin and other cryptocurrencies are too common. The one cryptocurrency which is providing you the highest rate of return is dogecoin. This cryptocurrency can provide you with a rate of return as high as 1000%, and it did so in the last month.
It is happening so because it is backed by a lot of billionaires and athletes. There are several tech giants like the CEO of Tesla and many other companies like Mark Cuban who think that these currencies are not in existence to leave.
They are going to stay for a very long period of time, and because of this, they started tweeting about it. The tweets made by such tech giants play a huge impact on the prices of such cryptocurrencies, which are not even decentralized by the government; therefore, the uncertainty is even higher.
It is not only the tech giants and the athletes were talking about bitcoins, but popular singer like Snoop Dogg jumped to dogecoin along with Gene Simmons. Bitcoin –, both are at a high price and are very great to invest money by the Indians, but there is a huge problem in the Indian market.
The investors are letting down by the various trading platforms as they are not completely prepared for handling such a huge market of cryptocurrencies. These cryptocurrency trading platforms are not prepared and look and equipped for the coming future.
There is a lack of infrastructure, and these applications crash down when there is a high amount of traffic on bitcoin trading. Also, several trading platforms are tying up with the banking associations, which is not something that must be done by them being a provided for decentralized cryptocurrency services.
WazirX, which is one of the most popular cryptocurrency trading platforms in India, is providing great services. It has been agreed on the provider of cryptocurrency trading services on the normal conditions, but when the price – increased last week, it faced a crash problem.
The users of this trading platform complained a lot about it. They post it on social media that they missed just a second by making a huge profit from the trade which they were about to make.
Some of them were not able to complete their trades, while others are not even able to add money to their wallet, which is a serious matter of concern for the trading platform companies in India.
As of reports click here, to see the calmness among the people and investors, the CEO of WazirX Nischal Shetty said that the platform is under repair and will resolve the issues real soon.
The CEO of this company also tweeted that the team of technicians is continuously trying to resolve the issue and also working to enhance the experience of trading for the investors in DOGE/INR.
New markets like bitcoin and several other cryptocurrencies are working pretty much fine. The issues will be resolved soon – said the CEO. However, the problem was not only occurring on The hi investment day, but on the normal days also, the application used to face several cracked down and crashes.
People are not only blaming the application and its providers, but several blame is also shared with the banking partners of the application.
It is not only the WazirX that is facing problems, but there are several other trade trading platforms as well which are facing the same problems. There is another trading platform named Coinswitch Kuber that has completely stopped functioning with the INR transactions.
It is an indication that people are not even able to make a trade-in INR but also cannot make UPI transactions or Internet banking transactions. It is all result of poor infrastructure in the technology sector of the Indian economy, and the issue needs to be resolved soon if the government wants the people to initiate and participate in bigger things.
In a country like India, there is a higher requirement of such modernization and technological infrastructure so that people do not refrain from participating in things like cryptocurrency trading at the right time.
It is a thing to understand that the cryptocurrency market is trying to take hold in the country; the cryptocurrency trading platforms are putting investors down. Some issues like the crash of trading platforms at high investment days need to be resolved if the cryptocurrency ecosystem must grow.
