One of the best places to Terms of Cryptocurrency investment in India, CoinSwitch, says in its annual investor report that Delhi has the most crypto users in the country based on the amount of money invested. Bangalore and Hyderabad are second and third, in that order.
The survey also found that the most valuable currency in India was Bitcoin (BTC), which had an average allocation of 12.12%. Then there was DOGE, which got an average of 11.54 percent, and Ethereum (ETH), which earned an average of 9.43 percent. This week, WazirX, an Indian cryptocurrency exchange, released its annual report. It showed that 27% of people who bought their first cryptocurrency on its platform bought SHIB tokens, followed by Tron (TRX) with 11% and Bitcoin (BTC) with 8%.
Men invested 20.54 percent of their portfolios in the top eight cryptocurrencies, while women invested 20.39 percent in the same eight cryptocurrencies. Men invest 13.19% of their money in meme currencies like Shiba Inu (SHIB) and Dogecoin (DOGE), but women only invest 12.90% of their money in meme currencies. Also, 12.33% of men’s money went into Decentralized Finance (DeFi) tokens, while 13.59% of women’s did.
The CEO and co-founder of CoinSwitch, Ashish Singhal, said, “Our goal is to make it fair for everyone to make money and invest in India.” “There is no information asymmetry; everyone on CoinSwitch has the same access to the tools and information they need to make smart investment decisions.” “In India, men and women invest in about the same way. On CoinSwitch, no one knows more or less than anyone else. Everyone has access to the same tools and information they need to invest wisely.”
WazirX found more money was put into gaming and meme tokens by male users of its platform than by female users. Instead, most of the women who used the platform traded high-value tokens like Bitcoin (BTC) and Ethereum (ETH) (ETH).
The research done by Coinswitch also showed that the cryptocurrency market in India is most active from 6 PM to 9 PM. On Akshaya Tritiya, the most money was put into bitcoin, also called “digital gold.”
Most people in Tier-2 and Tier-3 cities in Jaipur, also known as the “Pink City,” use cryptocurrencies. Lucknow comes in second, and Pune comes in third. Jaipur spent much more money than the rest of India on meme coins. For example, Jaipur has more than 2% more meme coins than Delhi.
Pune put more than a quarter of its cryptocurrency money into CRE8 coins. There are investments all over the city, just like in Mumbai. Over forty percent of Patna’s assets are in less well-known areas, like CRE8, DeFi, alternatives to Ethereum, meme currencies, and metaverse currencies.
More than 60% of the people who invest in cryptocurrency in Gurugram are younger than 25.
India put 40% of its crypto assets into high-value CRE8 coins and DeFi utility tokens in 2022. Only 6% of the cryptocurrency it had was used to buy metaverse tokens. Investments in Ethereum alternatives, such as Layer1 networks that compete with the blue-chip bright contract chain, were worth about 8% more than investments in metaverse tokens.
I can’t say for sure which cryptocurrencies are the most popular in India because people’s ownership and use of them can be very different and change over time. This is because the number of people who have and use cryptocurrency can change over time. I need help finding current or up-to-date information about who owns cryptocurrencies or how they are used in India or any other country.
In light of the above, it’s important to note that Ethereum (ETH), Dogecoin (DOGE), and Bitcoin (BTC) are all well-known cryptocurrencies that have gotten a lot of attention and use around the world. These and other cryptocurrencies may be popular in India.
The value of Bitcoin assets can change significantly over time and can be very unstable. Because of this, it’s essential to think carefully about the risks and unknowns of investing in cryptocurrencies before you put any money into this space. Before placing your money into something, you should always learn a lot about it and think about it. Invest in Bitcoin smart contracts and trade stablecoins and other cryptocurrencies on the most reliable trading platform.