Rich rewards often entail great risks, and the same is true with the highly volatile cryptocurrency market.

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The uncertainties in 2020 globally led to a heightened interest of masses and large institutional investors in trading cryptocurrencies, a new-age asset class.

Increasing digitization, flexible regulatory framework, and supreme court lifting ban on banks dealing with crypto-based companies have parked investments of more than 10 million Indians in the last year.

Several major global cryptocurrency exchanges are actively scouting the Indian crypto market, which has been showing a sustained surge in daily trading volume over the past year amid a big drop in prices as many investors looked at value buying.

As the cryptocurrency frenzy continues, many new cryptocurrency exchanges have come up in the country that enables buying, selling, and trading by offering functionality through user-friendly applications.

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WazirX, India's biggest cryptocurrency trading platform doubled its users from one million to two million between January and March 2021.