Crypto Users Mostly young, Women Base Growing: CoinSwitch Kuber Report
Recently CoinSwitch kuber has released its report in which the information regarding the users of Cryptocurrency is in India.
Also, the report told the interesting facts that almost every user used to spend an average of 27 minutes in the app of CoinSwitch. It allows the users to use the app for trading crypto and to know any information regarding the crypto.
Highlighted Facts
- In India, the roping of cryptocurrency in women is increasing.
- Among the many others, the metro cities like Delhi and Mumbai are the early adopters.
- In the report, many users of crypto are of the base younger than 28.
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In the world, the crypto users are increasing day by day and the platform provides crypto trading, CoinSwitch released a report of India and told that out of 14 billion users which belong to India only 15 percent is women and now a day’s the inclination for the cryptocurrency can be easily see4n in the age of 28 years of the age people in India.
He released the information when the government of India is trying to govern the rules and regulations of the cryptocurrency and to include the tax on the profit that is received by the users.
It revealed the infor6mation that this4 time the users are investing on an average 28 minutes in the app for the working related to the trading it may be either sell or purchasing. The average time was earlier was 13 minutes per individual user.
It also told that out of all users about 60 percent of the users belong to the Younger generation and mostly to the metro cities like Delhi, Mumbai, Bangalore, Kolkata, Pune, Lucknow, Patna.
Ashish Singhal, the CEO of CoinSwitch app told that now the trend of crypto trading is also collecting interest and now even in small cities people are using this investment as others.
He added “Recent developments in the industry, including Bitcoin ETF listing in the US, have led to further excitement around crypto mainstreaming and will continue to expand the crypto adoption globally and India. We are seeing the increasing interest from residents from tier two and three markets in India”. he further said that crypto trading is spreading in all parts of India and this is a surge in investments.
A report that has been published by the Bank of America (BofA) in which it told that the company based on the global trading in Cryptocurrency is expanding like an explosion and making the space “Too Large to Avoid”.
Also, it revealed some statics of the market that t7he mergers and acquisitions that happened in 2020 are spiked from $940 million in 2020 to $4.2 billion in 2021. Added on the report.
And in 2021, all the firms related to cryptocurrency trading made approx. $30 billion, which is around 227, 617 crore and this is a full-time high.
