Trading music, currency trading and crossroads trading can be as lucrative as gold, according to an analyst.
“As long as we see a high volume, it will be a big opportunity for the crypto community,” said Vijay Sharma, chief investment officer of Mumbai-based Trading Music Ventures.
“As a global music industry, there is a huge opportunity in India.
The volume is huge.”
India has become the third-biggest bitcoin trading market in the world after China and the US.
Its economy is expected to grow by $200bn by 2019, up from $15bn in 2016, according a report by the Economist Intelligence Unit.
The government has approved $1bn worth of bitcoin trading licences, and a new regulator, the Securities and Exchange Board of India (SEBI), is expected soon to allow crypto trading.
The first exchange, CryptoShare, has a $10,000 minimum deposit.
It is currently accepting bitcoin as a payment option.
It allows traders to buy and sell bitcoins in digital currencies, such as ether, bitcoin cash, litecoin, and bitcoin gold.
The company, founded in 2014, is one of a number of bitcoin startups in India that aim to offer digital currency trading services.
CryptoShare said its customers include a few big investors such as Adani Group, BNY Mellon, and Reliance Infrastructure Ltd.
The exchange has about 10,000 traders.
The exchange is working on a digital currency platform, which it expects to launch by end of this year, Sharma said.
“We are already in talks with the regulator, and we are planning to launch our platform by end-2019,” he said.