India Cryptocurrency Index Launched

India has first time launched its own index on Crypto named as “IC15”.

What is Index?

A record that is used to keep and maintain values of somethings like share, stocks, comparative value. In this case its its used like stock and share market.

India has already Bombay Stock Index and national Stock Exchange which records and keeps an eye on equities and companies.

But India has now is own crypto index that will monitor the performance of 15 most traded cryptocurrencies that are listed on crypto exchanges globally.

The IC15 index has been launched by global crypto app that will serve as benchmark on digital platform and soon to give varied representation across the increasingly varied crypto market.

This is help investors in tracking the value of a group of crypto currencies than investing in any one particular and taking risk.

Investors can avoid risk of investing in any one crypto currency and now investing in a group of cryptocurrencies thus having a fair index and risk.

All about Cryptocurriencies

What is Crypto Index?

The index known as IC15 is launched by global crypto super app “Cryptowire”.

It is a rule-based market index of top 15 cryptocurrencies as per market capitalization whose performance is tracked.

This will be governed by a committee and also have many domain experts, academician and industry players. This committee will maintain the index of top 15 companies cryptos every quarter (3 months).

The base date is set at 1^st April, 2018 and base value at 10,000.

This index will capture over 80% of market moment.

Many big cryptos like – Bitcoin, Ethereum, Litecoin, Binance Coin, Chainlink, XRP, Bitcoin cash, Cardano, Solana, Terra, Avalanche, Polkadot, Uniswap, Dogecoin and ShiaInu, etc.

Now the Investors and Fund Managers can monitor performance of crypto market.

Help to India?

People eager to invest in crypto can now invest in a group rather than in a single crypto.

Will reduce the chance of risk i.e., a group of crypto will have low risk than single crypto as like in share market.

Existing investors can now easily keep a track on their investment and diversify further

Commonly believed that crypto market runs on speculation will be lowered down by watching the performance in index

Is it Legal?

Trading and investing in crypto is allowed in India but no such clear laws are available on its regulations.

SEBI has already barred many mutual fund players from making crypto investments till laws are in place.

Central Government has also planned to introduce crypto currencies bill in parliament soon.

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