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Sign-ups for stock and cryptocurrency investors in rural India increases by 45% year over year

According to The Economic Times, the number of young investors wanting to buy and trade crypto and equities in India’s non-metro areas has grown considerably in the previous year.

Strong Markets Aid Crypto Growth

Strong performing markets, targeted marketing, and awareness have helped crypto and wealth management platforms attract new customers. According to the article, new user registrations increase by 45% to 70 million from the previous year.

Indian States Skyrocket Crypto Usage

As of August 23, user signups in the state of Uttar Pradesh had increased by over 60%. Additionally, those in Odisha, Assam, Bihar, and Madhya Pradesh had also increased significantly from the previous year.

Local Crypto Platforms Rise

Since June of last year, local crypto platform Coinswitch Kuber has seen a 135% growth from non-metro cities. Meanwhile, India’s first crypto unicorn, CoinDCX, has seen a 48.7% increase in user signups during the last six months.

India is Second Most Populous Country

According to US Census Bureau data, India’s overall population is one of the world’s highest, with 1.33 billion people, second only to China’s 1.39 billion.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.