There are an estimated $115 million Indians who invest in cryptocurrencies, despite the government of India’s open suspicion of the sector. Additionally, one-third of this group appear concerned about Indian crypto regulations.
As per crypto exchange KuCoin’s ‘Into The Cryptoverse Report India’ survey, there are nearly 115 million crypto investors in India who either currently hold cryptocurrency or have traded crypto in the past six months.
Additionally, this number of crypto users represent 15% of the Indian population of the age group of 18-60 years.
Furthermore, 10% of Indian adults are curious about crypto and have plans to invest in crypto in the next six months. With the recent crypto crash, many investors prefer to retain the same amount of crypto instead of investing more in it.
However, more than 50% of crypto investors seem to not be deterred by the crash and want to increase their investments in crypto in the next six months.
Interestingly, 33% (one-third) of surveyees were seemingly concerned by the government’s vague guidelines that can potentially deter crypto investors.
Notably, 26% of the respondents were also concerned about issues like hacks and exploits. 23% of surveyees had concerns about losing funds in a security breach.
Here are some more highlights from the survey:
- 41% of respondents say that they are unsure of which type of crypto investment products to choose
- 37% find it difficult to manage the risk of their portfolios
- 27% have difficulty in predicting the market directions and values of crypto
- 21% remain unclear about how crypto works
- 39% of crypto investors are aged 18-30, thus forming a dynamic young group of crypto investors
- 56% of crypto investors are of the belief that crypto is the future of finance
- 54% think that crypto will fetch a higher return on investment in the long run
- On the other hand, 43% are going for the short-term gains
- 52% invest in crypto for passive income and to improve their living standards
- Only 24% of young investors consider crypto a hype for fun
Also Read: ‘India Blockchain Forum’ Launched to Facilitate Web3 Adoption
