Investing in India is becoming increasingly popular among the country's younger population.
According to a blog post, crypto trading KuCoin released a poll titled "Into The Cryptoverse," which highlights the growing popularity of bitcoin and other cryptocurrencies in India.
An estimated 15% of the Indian population, or over 115 million investors aged 18-60, say they own bitcoin or another cryptocurrency and have decided to trade it in the past six months. About 10% of Indian adults are considered "crypto-curious" due to their desire to enter the cryptocurrency investment market within the next six months.
More than half of those polled intend to increase their cryptocurrency holdings within the next six months, but 41% admit they don't know which ones to buy. Similarly, 37% of respondents have difficulty managing risks, and 21% don't understand how the assets they use function.
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Therefore, despite substantial investor interest in India, widespread adoption is still hampered by numerous informational barriers. In addition, 33 percent of people who were asked about their investment preferences mentioned government interference as a factor.
In addition, 26% were worried about being hacked, and 23% were concerned about financial loss as a result of security incidents.
Even though the Indian government is taxing gains from digital assets at a rate of 30%, the country's shareholder class does not appear to be deterred by the situation. While only 24% of participants cited "hype" as their motivation for entering the crypto exchange market, 56% of those polled consider them the future of finance.
There has been a 7% increase from the previous quarter in the proportion of Indian investors younger than 30 (39%).
Humphrey Arinze Chukwu 37 w