KuCoin Embarks on Cryptoverse Investigation CryptoBlog

  • KuCoin has released a survey detailing bitcoin and crypto adoption in India.
  • 56% of investors surveyed believe bitcoin and crypto are the future of finance.
  • The Indian investor class is getting younger and younger over time.

Cryptocurrency exchange KuCoin has released a survey titled “Into The Cryptoverse” showcasing the growing adoption of bitcoin and cryptocurrency in India, according to a blog post by the company.

More than 115 million investors between the ages of 18 and 60, or 15% of India’s population, said they owned or traded bitcoin or other cryptocurrencies in the past six months. Another 10% of Indian adults have been labeled “crypto-curious” as they intend to start investing in the ecosystem within the next six months.

While more than half of investors surveyed plan to increase their holdings in the next six months, 41% of respondents said they don’t know which cryptocurrencies to invest in. Similarly, 37% of respondents find it difficult to manage risk and 21% don’t even. know how assets work.

Therefore, even though there is great investor interest in India, there are still many informational barriers that hinder wider adoption. Additionally, 33% of respondents cited government intervention as a concern when deciding whether to invest.

Additionally, 26% of respondents expressed concern about hacking, while 23% expressed concerns about losing funds due to security incidents.

Worries associated with the government levying a 30% tax on income from digital assets may not be enough to deter India’s growing investor class. Indeed, 56% of investors surveyed believe bitcoin and cryptocurrency are the future of finance, while only 24% said “hype” was the reason they entered the ecosystem. .

Additionally, Indian investors are getting younger as 39% of respondents were between the ages of 18 and 30, representing a 7% increase in this age group from the previous quarter.

Amanda J. Marsh