In chart: Investors unimpressed by uncertainty over crypto bill, platforms continue to woo users – Times of India

New Delhi finished despite uncertainty crypto taxation and imminent cryptocurrency billKey industry players continue to attract investors, according to data analyzed by conversion media platform Bobble AI.
Crypto trading platform CoinDCX saw a 45.78 percent increase in installed users between October and November 2021, while industry player Bitbns led by 41.33 percent in terms of active users.
Bobble A analyzed user behavior across top six cryptocurrency apps in India including WazirX, CoinDCX, among others. coinswitch, ZebPay, Unocoin and Bitbns, between October and November 2021.

The findings suggest that the impending decision on the cryptocurrency bill is not affecting crypto enthusiasts in India. Until recently, only a small number of individuals were investing in digital currencies, but with increased marketing spend coupled with greater market awareness, there has been an increase in cryptocurrency adoption by Indians.
The growing number of cryptocurrency adopters reflects a transition in the investment paradigm, driven primarily by the country’s younger generation, who are welcoming the shift from real estate and gold to investing in cryptocurrencies. Another solid reason for the enthusiasm for cryptocurrency adoption is the technological advancements that welcome us into a new era of payments and other financial services that are cheaper, faster and more accessible.
Bitbns was able to register an increase of 62.70% in terms of new users, followed by CoinDCX, ZebPay and then WazirX. But Unocoin and CoinSwitch saw a decline.

“This setback may be temporary and partly attributed to the Indian government’s signal to introduce the Cryptocurrency Bill 2021 to regulate digital currencies,” Bobble AI said in its report.
Active users of all six crypto apps increased in November 2021 compared to the previous month, with Bitbns increasing by 41.33% followed by WazirX by 23.53%.

However, user engagement within these apps is still a concern. Except CoinDCX and ZebPay, which showed good engagement in their respective apps taking into account the ‘average time spent by users’ and ‘number of sessions by users’, all other apps registered a decline in November 2021 compared to October 2021 Of.

The rapid adoption and expansion of digital currencies in India looks promising. Bobble AI’s findings show that India is ready for this technological revolution.
Earlier this week, cryptocurrency app Cryptowire launched a crypto index in India to monitor the 15 most traded cryptocurrencies in the world. The cryptocurrency index known as IC15 will analyze and monitor the performance of top coins listed on the world’s major exchanges.
The launch of the index aims to increase awareness and knowledge about the crypto and blockchain ecosystem among new investors.
Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano, Litecoin, Binance Coin, Chainlink, Polkadot, Uniswap, dogecoin, solana, Terra, Avalanche and Shia Inu will be components of IC15.