The legal status of cryptocurrency in India is uncertain, but it hasn’t dampened the sentiment of Indians investing in property. According to the annual spread index put together by broker discovery and comparison platform BrokerChoose, India has the highest number of cryptocurrency owners globally in terms of an individual number of holders. The United States and Russia were quite distant in second and third place respectively. In terms of the number of crypto owners in terms of population, India has the fifth highest crypto ownership rate, but the country’s vast population pushes other countries away.
Based on the percentage of the country’s population who own crypto, the rankings are led by Ukraine (12.73 percent), Russia (11.91 percent), Kenya (8.52 percent), and the US (8.31 percent), while with 7.3 percent Ranked fifth. . But since the population of India is much larger than that of Ukraine and Russia, the two countries are not far apart when we look at the total numbers. cryptocurrency Owner. While 1007 million cryptocurrencies are owned in India, the US has 27.4 million, while Russia has 17.4 million.
NS report good Also looked at cryptocurrency searches across nations. Here, the US saw the most crypto-related searches followed by India, UK and Canada.
Recently, Chainalysis published its 2021 Global Crypto Adoption Index, which ranked India second among 154 countries.
NS Chainalysis Study Also noted the role of large institutional investors in India, whose volume we are instrumental in increasing. Accounting for 42 percent of transactions from India, the report also recently revealed that India’s crypto industry grew by 641 percent, with 59 percent of the activity on the DeFi platform.
That said, since the country lacks a legislative framework and regulatory requirements for cryptocurrencies are still quite far away, India is still far from realizing its potential as a powerhouse nation in the space.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.