Forget Mumbai or Bengaluru, this city reigns as the cryptocurrency capital of India
Notably, Delhi boasts of 25% of crypto investors, followed closely by Bengaluru with 16%. Mumbai (9%), Hyderabad (8.9%), Chennai (8%), Kolkata, Pune, Lucknow, and Ahmedabad also contribute significantly to the expanding presence of crypto enthusiasts in the country.
«Several factors contribute to this growing trend, including robust digital infrastructure, widespread internet accessibility, increasing financial literacy, evolving investment tendencies, and the quest for higher returns. These elements collectively create a fertile ground for the expansion of cryptocurrency adoption, particularly in urban centers,» Mudrex said.
Gender-wise, the survey reveals significant participation from both male and female investors, with 69% and 29% representation, respectively. Additionally, 2% of respondents prefer not to disclose their gender. This balanced involvement can be attributed to various factors, including a pursuit of financial independence, a willingness to take calculated risks, and varying levels of digital literacy among participants.
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The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for
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