Earlier this week, KuCoin released a survey regarding new developments in the Indian blockchain and crypto space – Into The Cryptoverse Report India, revealing the number of crypto investors in the country. is about 115 million people as of June 2022.

The study claims these people have traded or held crypto assets in the past six months.

The KuCoin survey in India reveals a rather upbeat crypto investment landscape in the country. They said 115 million crypto investors represent 15% of India’s population aged 18-60, while another 10% in the same group are crypto-curious consumers planning to invest in this property for the next six months.

The demographic profile of crypto investors is getting younger and younger, as 39% of them in the first quarter of 2022 were aged between 18-30, up 7% from the previous quarter. First-time crypto buyers make up 39% of young investors under the age of 30. They have only started trading in the last three months.

“Uncertainty in government regulations is a major factor hindering potential investors. 33% cite government regulation as a concern when considering investing in cryptocurrencies. The safety of investing in crypto is also a concern for many, with 26% worried about hackers being a threat and 23% fearing that they might not get their money back in the event of a scam. security incident,” a PR from KuCoin said of the survey.

The study also states that the lack of adequate knowledge about crypto investments is the most significant barrier to the growth of crypto investments in India. It cites 41% of respondents saying that they don’t know what type of crypto product they should choose to invest in. 21% of respondents said they do not understand how digital assets work and 27% find it difficult to predict the direction of the market.

Investment sentiment is currently down due to the bear market. It reflects investors’ preference to maintain the current level of crypto investment rather than increase it. Looking at the high prospects, the Indian government announced the launch of a CBDC, which has further attracted local interest in the digital economy, said KuCoin PR.

Last month, the CEO of KuCoin said India would emerge as a key market in the long run, thanks to the local “expertise” and “welcome market”. “India accounted for a large chunk of the 5.6 million new customers that KuCoin added in the first half of 2022,” he explained.

In May, KuCoin announced plans to launch an NFT exchange through its Pool-X liquidity trading platform, which is expected to begin operations in November.

To Learn And Become A Digital Asset Expert
The course is completely FREE
Registration link: CRYPTO TASK FORCE

Source: goctienao