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Why cryptocurrencies have become media’s new favourite and what you should know about it

where data and technology are becoming more and more valuable assets.

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Narendra modi

PM Narendra Modi remarked that “we are at a time of change” where data and technology are becoming more and more valuable assets. Regarding cryptocurrency, he further added that all democratic nations must work together on this and ensure it does not end up in the wrong hands. Hence, this comes at a time when there has been a lot of buzz on how cryptocurrencies would be regulated in India. As we expect a new law on cryptocurrency, it is likely that cryptocurrency shall be permitted as an asset and not be regarded as a legal tender or means of currency. This is in the midst of developments around the world with regards to the legal frameworks being adopted to regulate the crypto space. While there are countries like El Salvador on one hand which have legalised Bitcoin as a legal tender and countries like China on the other hand that have put a near-ban on the industry. Thus, India finds itself in the midst of finding a stance that best aligns with its own interests. With the recent remarks of the Prime Minister, the industry is likely to further get a boost in the country in the event of a proper regulatory framework to protect investors.

With more and more investors entering the world of cryptocurrency everyday, it becomes important that investors are able to correctly assess the risks and are fully aware of the modalities involved. This has led to the emergence of various crypto influencers and knowledge providers with whose support the young generation, who form the majority of investors in this space, are able to navigate the path towards building a portfolio of cryptocurrencies. One prominent figure in this domain is DaCryptoGeneral who goes by the username @dacryptogeneral on twitter. As a crypto-influencer, he regularly tweets on various technologies and concepts on cryptocurrency. With a following of over 150k crypto enthusiasts on Twitter, he breaks down complex developments in the crypto space for his audience to understand and grasp. From what can be gathered from his website, DaCryptoGeneral has been in this space since 2014. As a young college undergraduate student, he would invest his income from small gigs and internships to experiment with Bitcoin and had a major turning point when he identified the future prospects of SHIBA INU at a very nascent stage which went on to give returns in over thousands of times.

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Apart from running a consultancy firm in this area and investing in various upcoming tokens, he actively engages with the youth to explain the nuances and prospects of different tokens available in the world of cryptocurrency to invest in. He believes that much misinformation is spread on account of misrepresentation in advertisements by various platforms and incorrect reporting by media houses that create a sense of uncertainty and lack of trust. Until countries including India are able to draw necessary regulatory frameworks to protect the interests of the investors in cryptocurrency, extreme caution ought to be exercised by new investors and traders to safeguard their hard-earned money. With the growing number of irregularities and cases of fraud in this space, various stakeholders in this industry have stepped up to self regulate themselves and the investors. As we continue to see developments taking place in this space, we must also remember that major investments have taken place in this space that has led to creation of multiple Indian crypto-exchanges. Platforms such as WaxirX, CoinDCX and CoinSwitch Kuber have led the change and allowed more and more Indians to participate in this space.

https://www.dacryptogeneral.com/

DaCryptoGeneral believes the influencers, media, crypto platforms and other stakeholders in the ecosystem must unite to adhere to utmost transparency and fair play until countries find a regulatory solution to protect the ecosystem. As an influencer himself, he shares in depth knowledge of every development in the crypto space with his followers to improve transparency and help investors become more aware to take risks accordingly.

In addition to cryptocurrencies, he takes keen interest in developments in the allied areas such as Non-Fungible Tokens (NFTs) and the idea of metaverse. As Facebook takes the step to rebrand itself as Meta, there has been an increased interest in this area. With cryptocurrencies becoming the buzzword especially among the youth, it is important for the industry and the overall ecosystem to ensure that there is a regulatory framework in place and that investors involved are well aware of the risks involved in it.

https://mobile.twitter.com/DaCryptoGeneral?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

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