New Delhi: Although the Indian government has not provided any legality to trade in cryptocurrencies like Bitcoin, Dogecoin and Ethereum, it seems to have found many buyers in the country. According to a recent study by Kantar, the main age group owning cryptocurrencies in India is between 21 and 25 years old, who mainly live in metros.
Research sample survey for men and women aged 21 to 55. Interviews were from Bombay, Delhi, Chennai, Kolkata, Pune, Hyderabad, Bangalore, Ahmedabad, Indore, Patna, Jaipur and Lucknow.
The five most preferred currencies are as follows:- bitcoin with 75% share Dogecoin with 48% Ethereum with 40% share Binance Coin 23% Ripple’s XRP 18%
The study shows that around 83% of urban Indians are aware of cryptocurrency, but only 16% have cryptocurrency. Crypto owners prefer cryptocurrency to mutual funds or fixed deposits and life insurance.
Crypto exchanges such as Wazir X, Zebpay, Coin Switch and Kuner are the most commonly used apps for buying currency. The report also mentioned how Elon Musk tweeted about not accepting bitcoin for the purchase of Tesla vehicles, causing a major setback for the crypto currency.
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