Reports reveals how Indians are outperforming the rest of the world when it comes to cryptocurrency adoption. Notably, this is because investors are still waiting for the official verdict on cryptocurrency exchanges in the country.
A recent study by the portal BrokerChoose’s annual crypto proliferation index makes shocking revelations. it shows that over 10 crore, India has the largest number of crypto owners in the world. Then, followed by the US and Russia.
Per population percentage, India boasts the fifth-highest rate of crypto owners at 7.3%. Notably, This index is topped by Ukraine at 12.73%, Russia at 11.91%, Kenya at 8.52% and the US at 8.31%.
Furthermore, The study also monitors internet searches in various countries to determine crypto interest.
So, India has the second-highest number (nearly 36 lakh) of total crypto searches. Meanwhile, the US has the highest number of crypto searches at 69 lakh.
Surprisingly, Indians is second out of 154 countries on the 2021 Global Crypto Adoption Index by Chainalysis in August.
Additionally, Indians market is seeing 641% increase over the past year. Data gotten from using a metric received by a country.
“Large institutional-sized transfers above $10 million worth of cryptocurrency…”
“represent 42 per cent of transactions sent from India-based addresses,”
said the report.
Also, the numbers indicates that India’s cryptocurrency investors are among big and top organizations.