What can 1 LEO buy you in INDIA ?

avatar
(Edited)

Good morning guys, a couple of days ago @acesontop wrote a post about intrinsic value of LEO in his country . I thought of writing that for my own country which is INDIA .

Before going into LEO , let's see some basics -

  • Currency of India is - Rupees .
  • 1 USD = 73.61 Rs .
  • Symbol = ₹

What is Legal Tender?

Legal tender means a form of money that is recognized in a particular country and issued by Government/ Central Bank / Monarch . Within India , Rupee Notes cannot be declined as a form of payment .

Is Crypto Legal Tender in India?

Nope.

Value of LEO in India

Now given that LEO price as of today is 0.260 USD which amounts to ~20 Rs.
To be honest it is a lot , I have been consistently engaging with LEO community in the past week and have got decent amount of LEO in returns and if one is consistent enough and posts quality is decent , I don't see why they cannot make atleast 100 LEO per month which is equal to 2000 Rs .

Note: All the prices mentioned below may change from place to place within India but I don't see any drastic change , it is a matter of maybe 1-2 Rs.

1 LEO in India will let you buy these


image.png
Image Source

  • Coffee ( 2 Cups )
  • Tea ( 2 - 3 Cups )
  • Egg ( Upto 4 )
  • Biscuit ( 2 packs - Medium sized )
  • Sliced fruits ( 2 plates )
  • Chaats ( Junk food ) - ( 1 plate - 2 plate )
    1. Samosa ( 2 )
      image.png
      Image Source
    2. Vada Paav ( upto 4 in some places )
      image.png
      Image Source
    3. Pani Puri/Masala Puri/Sev Puri/Dahi Puri ( 1 plate ) etc . You can search all these in Google to see the pics .
  • Meals in certain Government run restaurants ( Example - Indira Canteen in a South Indian State ) , yup full meals .
  • Cigarette ( 1-2 depends on the brand , I don't smoke though )
  • Bananas ( 2-3 , depends on the variety too )
  • Newspaper ( English newpaper for 4 days , Vernacular newspaper for 8 days at least )

I hope you got a picture , let me now try to give certain examples of cost of living , note that I currently live in Rural India and this varies a lot depending on region / state etc .


image.png
Image Source

Rent - 250 LEO per month.

Electricity - 50 LEO per month.

Fuel - 4 LEO ( Petrol/Litre), 3.5 ( Diesel / Litre).

By seeing these you might have got the picture , let me tell you this , I have seen people in my village live a comfortable ( but not a high standard of living ) life for less than 250 LEO per month . If you want to live a decent life at my place , 1000 LEO per month would be more than enough.

I hope you enjoyed this post.

Regards ,
MR.

Posted Using LeoFinance Beta

neoxian palnet ctp leofinance
0
0
0.000
16 comments
avatar

how much would you have to earn to pay for a whole month including rent and so on?

0
0
0.000
Reply
avatar

Where I live , I will have to earn 1000 LEO per month to live a happy life with savings but since I have my own home , 750 LEO per month would be more than enough .

0
0
0.000
Reply
avatar

So you could basically go full TIME LEO combined with hive earnings it would be enough to make a living. Cool!

0
0
0.000
Reply
avatar

It's definitely possible

0
0
0.000
Reply
avatar

The pictures are mouth-watering.... I love Samos but because of covid I am not a position to go to sweet shop and ask him yo pack two...lol...
In rural India the cost of living is not high as compare to metro cities...
Nice comparison....
My native is Punjab.. which part of country are you living?

0
0
0.000
Reply
avatar

Screenshot_20201219083830_Chrome.jpg

Seriously? Damn I spend more than that smoking weed. Actually I spend twice that. Every week.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

Yup but please note that I live in outskirts . It's still a great place to live though but it lacks hospital as well as library . Apart from that everything is great including the weather and environment.

0
0
0.000
Reply
avatar

Wow what a great comparison and make us appreciate what is here on LeoFinance. Curious is there an easy way for you in India to convert Leo for use in your country? This could be a great day job just blogging on LeoFinance lol.

0
0
0.000
Reply
avatar

I haven't sold any LEO or Hive yet but I have sold BTC and some other coins on paxful and other similar sites. It's not a easy and smooth process though.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

So its very similar to many other places where converting to crypto back into fiat is difficult or not simple. When the time where big companies and businesses setup ways to exchange crypto it will most likely be a full bloom adoption. It is bound to happen just not sure when. Hopefully soon. Can just imagine the potential.

0
0
0.000
Reply
avatar

Until recently RBI ( Central bank of India ) was very conservative when it comes to crypto but after the Pandemic outbreak they announced that Banks can deal with Crypto Exchanges freely so yes that is a great move and after that a lot of Indians are investing without fear ( according to a survey ).

0
0
0.000
Reply
avatar

Really interesting to have this kind of comparison :)

0
0
0.000
Reply