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.