The largest city to embrace cryptocurrency is Delhi-NCR
The use of cryptocurrencies has been rising significantly worldwide, with the crypto market capitalization surpassing $2.5 trillion and Bitcoin reaching an all-time high of $74,000. In India, tier-1 cities, headed by Delhi-NCR, are emerging as hotspots for crypto adoption.
According to a poll conducted by cryptocurrency investing platform Mudrex, Delhi-NCR leads the country in terms of the total number of cryptocurrency investors, with 25%. Bengaluru comes in second with 16% and Mumbai third with 9%. According to the poll, this expanding industry is fueled by elements like internet connectivity, financial knowledge, digital infrastructure, investing inclinations, and the desire for greater returns.
According to the poll, 69% of respondents who invest in cryptocurrency are men, and roughly 63.06% of respondents between the ages of 20 and 30 have made this decision.
“The growing acceptance of cryptocurrency across various demographics and income levels, coupled with a shift towards diversified portfolios, marks a significant change in how Indians perceive and utilise digital assets,” said Edul Patel, CEO of Mudrex.
“The Indian financial landscape is ready to adjust to new opportunities and challenges in the world of cryptocurrency investments as these trends continue to evolve,” he said. According to the poll, 45% of users have included cryptocurrency into their retirement planning. Patel said that there is a good chance the bull market would continue beyond the halving, which is anticipated to occur this week.
