Notably, millennials in India are showing massive interest in digital assets rather than stock trading. More so, this happens with the growing adoption of cryptocurrencies.
Furthermore, Most young people in India smaller cities, are investing in cryptocurrencies. Namely; Bitcoin, Ethereum, Solana, and Cardano. Also, the Economic Times reveals this through data by Indian crypto trading app CoinSwitch Kuber. More so, The figures show that with its 11 million users, between 25-55% of the young users are outside cities such as New Delhi or Mumbai.
Additionally, the trading platform’s chief business officer Sharan Nair, says that millennials In India prefers cryptocurrencies to stocks. Of course, this is due to the mainstream attention the crypto space has in the country.
So, Sharan explains.
“Many are techies like us who like to solve problems in the crypto world…”
“by contributing code. What can they do as shareholders of…”
“a bank whose website they don’t like?”
Formerly, data from cryptocurrency exchanges operating in India shows this;
How investors from the smaller towns are purchasing Bitcoin and other digital assets.
Meanwhile, This is setting examples for young investors. Especially, through social media and rugged marketing strategies in the sector.
Notably, the coronavirus pandemic aftereffects is pushing people into crypto. Of course, In the country, Digital assets become the best hedge option against economic breakdown.
Peep Into India Crypto Regulation State
Lastly, Although India is among countries trying to carve out a clear crypto regulation framework. Notably, top players in the sector show confidence that the government will do what’s right for the economy to boom!
So, This growing consideration of cryptocurrency investments In India shows the adoption rate in the country. As per data from analytics firm Kantar’s research, nearly 83% of urban region of India know digital currencies, then 16% own them.
