Broker Choose, a platform for discovering and comparing brokers, revealed in its annual growth index that India, which has users of Rs 1.07 billion, owns the most cryptocurrencies in the world. Next is the United States with cryptocurrency owners of 274 million rupees, Russia with 174 million rupees and Nigeria with 130 million rupees. With a larger population than the United States and Russia, India has the fifth largest cryptocurrency ownership rate in the world. Cryptocurrency is the percentage of the country’s total population who owns cryptocurrencies. At 7.30 percent, India marks the fifth spot. According to the report, Ukraine has the highest crypto ownership rate at 12.73%, followed by Russia at 11.91%, Kenya at 8.52% and the United States at 8.31%.
Despite the uncertain fate of the country, cryptocurrency frenzy is skyrocketing upwards among people. In 2018, the Reserve Bank of India banned the trading of cryptocurrencies that were later destroyed by the Supreme Court. Earlier this February, the Government of India drafted cryptocurrencies and regulations in the official digital currency bill of 2021 to ban all private cryptocurrencies in the country. However, the bill has not yet been submitted to Congress.
A report by BrokerChoose also revealed a country-by-country search for cryptocurrencies. Of these, the United States has topped the list for most crypto-related searches. India, Great Britain and Canada followed this path. According to a Mintha report, industry trends show that most of the crypto owners contributing to this huge wave are young people in Tier 2 and Tier 3 cities, with the exception of big cities.
The increase in trading volume and valuation of crypto exchanges in India is another evidence that this cryptocurrency is rising exponentially in India. According to a Mint report, the crypto exchange platform CoinSwitch Kuber has 11 million users, while WazirX has 8.3 million users. Within a year of being founded in June 2020, the crypto exchange platform CoinSwitch Kuber entered the Unicorn Club with a valuation of $ 1.9 billion this month. Prior to this, just two months ago, another crypto exchange platform, CoinDCX, with a $ 1.1 billion valuation, became India’s first crypto unicorn.
India, with more than 10 Crore users, has the largest number of crypto owners in the world: Report
Source link India, with more than 10 Crore users, has the largest number of crypto owners in the world: Report