Major metro cities such as Delhi, Bengaluru, and Mumbai account for over one-fifth of the total value of crypto investments in the country.
Ajinkya Jayant Kawale reports.
India has over 19 million cryptocurrency investors out of which nearly nine per cent are women, data from a report by cryptocurrency exchange platform CoinSwitch showed.
Nearly 75 per cent of cryptocurrency investors belong to a young demographic, with ages spanning from 18 to 35 years, the report noted. This represents a significant interest in crypto among young users.
Meanwhile, major metro cities such Delhi, Bengaluru and Mumbai account for over one-fifth of the total value of crypto investments.
Delhi tops the list in terms of the total investment in cryptocurrency by value.
In 2023, Dogecoin was the most popular cryptocoin claiming 11 per cent of the total invested value in crypto followed by Bitcoin (8.5 per cent) and Ethereum (6.4 per cent), according to the report.
“In 2024 approvals for Bitcoin and Ethereum ETFs are highly anticipated events and could lead to more institutional capital coming into the ecosystem,“ said Balaji Srihari, business head, CoinSwitch.
