By 2016, he had realised that Bitcoin is here to stay and he should invest as much money as he can afford to.Īnd while he used to watch videos related to crypto currencies on YouTube, which were mostly in English, he realised that discussions in Hindi about fundamentals of crypto currencies was missing in India. I started reading everything I could find about Bitcoin, read the Bitcoin Whitepaper, read about the history of money, watched videos, listened to podcasts and educated myself,” Aditya says. We started paying more attention, and wondered why it keeps coming back after apparent crashes. The brothers started exploring and saw that there are other cryptocurrencies “and when you look at something new, there is so much confusion. Once the payment got through and they cashed it, they realised Bitcoin is not intangible after all. We researched and realised there was a way to cash it and there’s a whole market around it,” he says. Since there was no other way to get our commission, we had to agree. And we again had our doubts: ‘unless you cash it, it’s not real’. In the end he gave us an option that he can pay us in bitcoins. He had stopped responding and we were doubtful if we’d even get our money. However, a technical issue regarding payment arose with one of the European clients they worked with. Soon, the duo had placed people at Lockheed Martin, Nike, Google and Facebook, among others. Then in late 2013, Silk Road mastermind Ross Ulbricht was arrested and Aditya was again drawn towards cryptocurrency “Back then I had wondered how do you cash it,” says Aditya. It briefly drew his curiosity but he was still “suspicious” of it. He first heard about cryptocurrency sometime around early 2013, when Bitcoin went up to about 260 USD, and then it crashed. So after college, he jumped onto the Business Process Outsourcing (BPO) boom and worked for about 3-4 years. He graduated with BCom and his first aim, he says, was to make money and pay off all the family loans. He was summoned by school management for non-payment of fee, the home often had power cut off due to default on payment, there was little food on the table many days, and when he was older, the family couldn’t afford to pay for a computer course that he wanted to do. Growing up, Aditya saw some difficult days. There are only 21 million Bitcoin that can be mined, so there is saturation in the market now,” he said.įrom earning Rs 500 per month at a mobile shop during school vacations to help pay off family loans to being the rising poster boy of cryptocurrency in India, Aditya Singh, now in his early 30s, has come a long way. If you were an early investor, you could have easily made 20 to 30 times your initial investment. Moreover, I believe it is not possible to see the kind of returns here now as it was earlier. Some people who are suffering because of the fluctuations in the value of cryptos are the ones who have invested huge amounts from their savings. If, for example, you have Rs 1 crore in different forms of savings, you should not invest more than Rs 1-2 lakh. “No one should invest their entire savings in crypto currencies.
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