List of 10 Cryptocurrencies Most Traded in India Welcomes a Newcomer

According to Coingecko, a coin called PLCU was included in the list of the ten most trending coins among other already well-known cryptocurrencies, such as Bitcoin and Ethereum. On December 27, PLCU also jumped into the list of top 5 cryptocurrencies by trading volume on Biconomy, a Canada-based cryptocurrency exchange.

Currently, PLCU is traded on a handful of trading platforms like Gate.io, WhiteBIT, MEXC, and other global-grade exchanges.

Indian interest in financial technology is on the rise, with a significant portion of the population exploring new ways to invest their money. The market for digital assets in India is growing at a rapid pace and has attracted a large number of retail investors. According to Chainalysis, India was ranked fourth in its list of 20 countries with the highest cryptocurrency adoption rate. India is superior to the United States and China. According to the estimates made by UNCTAD, the United Nations trade and development body, 7.1% of India’s total population, or over 97.5 million people, currently own cryptocurrency.

One of the key reasons for the growing popularity of cryptocurrencies in India is the potential for improving people’s well-being. Cryptocurrencies provide a level of financial inclusion that traditional banking systems often fail to deliver, particularly for those living in rural areas. Moreover, cryptocurrency also can be a source of income for people who don’t have access to traditional jobs. It’s seen as a way for people to take control of their own financial futures and improve their standard of living.

PLCU is a trading coin of the PLC Ultima ecosystem. The driving force behind the project is Alex Reinhardt, a venture investor, blockchain expert and entrepreneur, who has founded multiple startups and fintech platforms. The goal of the project is to provide individuals worldwide with access to a set of useful financial tools within the ecosystem, and improve their quality of life by reducing barriers to financial services.

The PLC Ultima is a blockchain-based ecosystem hosting a wide range of services, from an everyday payment system to a crowdfunding platform and marketplace, all of them already used by hundreds of thousands of users around the globe. The PLC Ultima blockchain is a truly decentralized system, where the main players are its large community of users. In 2021, around 700,000 individuals from over 120 countries had already joined the PLC Ultima ecosystem. By September 2022, the number of active users had risen to 1.5 million.

The ecosystem uses two native coins, PLCU and PLCUX, which are closely linked. PLCU is used for sending transactions, while PLCUX is focused on creating new coins. To become active members of the ecosystem, individuals simply need to register new accounts and download specific apps such as Ultima Farm and Ultima Wallet on their smartphones. Users who store and “freeze” PLCUX coins in their wallets receive a monthly reward, determined by a smart contract, based on the number of frozen coins in the wallet.

The process of creating new coins using frozen coins is called minting. It is more efficient and more affordable than the well-known mining. Thus, active members of the ecosystem are rewarded for participating in its life and for keeping its blockchain operational. Miners on the bitcoin network are rewarded in a similar way. But unlike them, PLC Ultima members don’t need to buy expensive equipment.

Minted coins may be easily exchanged into other cryptocurrencies or fiat money or spent inside the ecosystem. PLC Ultima offers a wide range of popular fintech services and continues to expand its offerings. The ecosystem’s goal is to demonstrate a practical application of combining cryptocurrency and blockchain technology with the real economy. Utilizing cryptocurrencies, PlatinDeal, the PLC Ultima-based marketplace, helps new merchants and brand creators quickly expand and enter new markets. PlatinDeal includes a classifieds platform allowing customers to easily buy or sell goods and services, create their own digital stores, and make purchases using cryptocurrencies. PlatinDeal is also a coupon marketplace where PLC Ultima users may buy vouchers of their preferable stores and, after using them for purchases, receive a significant cashback.

The PLC Ultima ecosystem also features a trailblazing crowdfunding platform, PlatinHero. It helps establish a connection with an audience and raises funds for a project and gauge audience interest. PlatinHero maximizes the benefits for all users, as projects searching for funding get free promotion, while their donors receive rewards from projects and a 10% bonus on the amount they contributed.

Overall, the growing interest in PLC Ultima and its native coins in India is a testament to the desire for more financial freedom and independence among the population. It will be interesting to see how the market for digital assets develops in the country in the coming years.