A recent KuCoin report on crypto investment in India shows that 54% of Indian crypto investors are looking to invest more in the next six months. Other findings from the report also indicate enthusiasm for the market. It also shows that India has 115 million crypto investors.
KuCoin published its Into The Cryptoverse Report India on August 23, and the results show that a majority of Indian investors are looking to invest more in crypto in the near future. 54% of investors plan to allocate more of their capital to crypto in the next six months, despite tough tax rules.
KuCoin says that the crypto market in India is expected to reach a value of $241 million by 2030. There are around 115 million crypto investors in India who own crypto or have traded it over the past few years. last six months. This represents 15% of the population between the ages of 18 and 60, with 10% adults curious about the market and interested in investing over the next six months.
India is an enthusiastic market for crypto, with many investors jumping into the market over the past couple of years. However, the recent 30% tax rule and the fact that they cannot offset losses has led to a sharp drop in trading volumes. In light of this, it is somewhat surprising that many investors are looking to invest more.
However, there are challenges for crypto businesses looking to break into the crypto market. KuCoin reports that 41% of respondents did not know which cryptocurrencies to invest in, 37% find it difficult to manage their portfolios, 27% do not know exactly how to predict the market and the valuation of assets, and 21% simply do not understand how crypto works.
When it comes to reasons for investing in the crypto market itself, 56% believe crypto is the future of finance and 54% believe they will earn a good return in the long run. 43% invest for short-term gains, while 24% view crypto as “hype for fun.”
Information from the report shows that Indian investors are highly appreciating the crypto market. The large population of the country is largely untapped and many exchanges have sought to enter the region. Coinbase is one of the notable platforms, although it has encountered some obstacles.
India has taken a firm, but not drastic, stance on crypto. India’s Directorate of Law Enforcement froze the bank account of a WazirX leader, and authorities also carried out a raid.
For the most part, Indian lawmakers seek to prevent any illicit activity involving the crypto space. They see crypto regulation as a difficult challenge and are looking for alternatives for the process.
All information contained on our website is published in good faith and for general information purposes only. Any action the reader takes on the information found on our website is strictly at their own risk.