Highest crypto adoption in Delhi, Bengaluru, Jaipur; Bitcoin Holds Up Popularity: CoinSwitch

According to a report published by CoinSwitch on Wednesday, interest in cryptocurrencies in India appears to have increased this year. Delhi, Bengaluru, and Hyderabad are the cities with the highest crypto adoption rates, according to crypto exchange results. Among the tier-2 cities, Jaipur has recorded rapid growth in terms of adoption. CoinSwitch, which caters to over 19 million registered users, analyzed trends and data recorded on its platform throughout the year.

Other tier 2 cities such as Pune and Lucknow also contribute significantly to the India’s Crypto Industryfollow India’s 2022 Portfolio Report by CoinSwitch.

Bitcoinoldest and most valuable cryptocurrency, still very popular in India.

It is noteworthy that Indians are continuing to invest in BTC despite the asset’s steep decline on the price chart. The last all-time high for BTC was $68,000 (approximately Rs 56) recorded last November.

At the time of writing, BTC’s trading point has dropped to $16,816 (approximately Rs 13.9 lakhs), according to Gadgets 360’s Cryptocurrency price tracker.

ether and Dogecoin also emerged as a popular investment option for Indian crypto investors, according to the report.

The valuation of the crypto sector rose to more than $3 trillion (approximately Rs 2,48,34,930) last year, but after a year of industrial uncertainty, the market capitalization has plummeted to the lows. is currently Rs 808 billion (approximately Rs 1.3 billion. 66,87,654 cores).

CoinSwitch said their report is intended to highlight how the Indian crypto community has handled their financial decisions during a year of rising inflation, market downturns and landmark events like the process. green transformation of Ethereum Blockchain with Merge.

While the exchange did not disclose the number of transactions it has processed this year, it does note that female users from India account for 8% of the total transactions it records.

The report also said that investment patterns do not differ too much for men and women in the country.

Earlier this month, CoinSwitch competitor WazirX also released a report on Indian crypto investment trends.

In its findings, WazirX had declare that it has seen an increase in Dogecoin and Shiba Inu trading on its platform.

The exchange also said that Indian women have chosen ‘blue chip tokens’, which are supposed to achieve higher value in the long run with better liquidity.

Cryptocurrency is an unregulated digital currency that is not legal tender and subject to market risk. The information provided in the article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV will not be liable for any loss arising from any investment based on any recommendations, forecasts or any other information contained in the article.

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