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115 million Indians Have Invested In Crypto, KuCoin Survey Notes

KuCoin Stolen Funds on The Move, $3.5 Million Transferred in Three Transactions
KuCoin Stolen Funds on The Move, $3.5 Million Transferred in Three Transactions

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KuCoin was recently surveyed to show the level of crypto adoption and the nature of its landscape in India. According to the survey, there are now 115 million crypto investors in the country. The demographic analysis also shows that the investor profile is predominantly youthful, with 39% of them aged between 18 and 30 years.

The report also noted that the investors have either held crypto assets or traded in them in the past six months. 15% of the population is aged between 18 and 60 years, while another 10% are people who want to invest in crypto assets in the next six months.

This represents a 7% increase over the previous quarter. Also, 39% of the young investors are first-time crypto buyers who started trading over the past three months.

Crypto Investment Hurdles

The uncertainty in government regulations has been a major factor that deters potential investors. In the survey, 33% of them stated that government regulation is a major consideration for them before investing in any crypto product. Additionally, 25% of them are worried about the risk of attacks when investing. While 23% are worried that they could lose their money during a security incident, 26% of them are afraid of the threats posed by hackers.

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According to the study, the most notable impediment to the growth of crypto investments in India is the lack of sufficient knowledge about crypto investment.

Crypto Investors Are Being Cautious Due To The Current Market Drought

Additionally, 41% of the respondents say they are not sure which type of crypto they should invest in. 27% of the respondents say they find it difficult to predict the market directions while 21% of them said they do not understand how digital assets work.

The current drought in the market has affected investment sentiment among crypto enthusiasts in the country. Many of the investors are not looking to increase their holdings, but to maintain their current market level. The Indian government recently announced the launch of its CBDC. This has ignited the interest of locals and drawn more participation in the digital economy.

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