New Delhi, NFAPost: It is very clear that there is growing enthusiasm among investors and tech community for cryptocurrency in India that a latest study finds that India has the highest number of cryptocurrency owners globally.
According to a an annual proliferation index put together by broker discovery and comparison platform BrokerChoose, India has the highest number of cryptocurrency owners globally in terms of an individual number of holders.
But it is interesting to find that in terms of number of crypto owners in terms of population, India has the fifth-highest crypto ownership rate with 7.30%.
Even though India topped the list, the tech hub of the world the United States is ranked second in the list with 2.74 crore cryptocurrency owners. The US is followed by Russia with 1.74 crore users. .
According to the research, Ukraine has the highest percentage of crypto ownership at 12.73%, followed by Russia at 11.9%, Kenya at 8.52%, and the United States at 8.31%.
Over time, people in several countries have begun investing in cryptocurrencies like Bitcoin, Ether and Dogecoin, and the same is true for India.
Big institutional investment has helped cryptocurrency’s growth in India, according to BrokerChoose. India’s crypto industry increased 641%, with 59% of activity occurring on DeFi platforms.
In comparison, the number of stock investors (Unique Client Codes) registered with the BSE in India has risen from 70 million to 80 million in four months, according to data by the exchange.
Commenting on the development, Cryptocurrency exchange BuyUcoin CEO Shivam Thakral said the digital assets have caught everyone’s attention.
“It is not only because it has emerged as the best asset class of 2021 but also because other asset classes are not able to fulfill the aspiration of the smart investors who want their money to grow in tandem with global growth rate,” said Shivam Thakral.