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    THE COST OF CRYPTO

    Nov 25, 2021 5 minutes
    BY TEENA JAIN KAUSHAL
    ILLUSTRATION BY NILANJAN DAS

    MORE THAN 100 million! That’s how many Indians trade in cryptocurrencies, the highest in the world, ac-cording to BrokerChooser, a broker discovery and com-parison platform. While the central bank and some industry experts say that number is on the higher side, it’s an accurate enough estimate of the interest in crypto trading in India. Crypto has gone from being just talked about as an asset class to actually becoming an increasingly popular investment.

    And it’s not just seasoned investors, but also youngsters from Tier II and Tier III cities who are ploughing money into virtual coins—as much as ₹6 lakh crore, according to the Block-chain and Crypto Assets Council (BACC), part of IAMAI (Internet and Mobile Association of India). That is an eye-watering amount considering cryptocurrencies are still unregulated and not legal tender in India. The central bank banned crypto in 2018 but the Supreme Court over-turned the

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