5 states contribute over Rs 830 cr to crypto investments in 2021, says BuyUcoin

According to the data from BuyUcoin, the top five Indian states contributed over Rs 830 crore to crypto investments in 2021. The list includes Karnataka, Maharashtra, Uttar Pradesh, Delhi and Haryana, which added between Rs 150-200 crore each.
The platform, which has more than a million users, processed a little less than 3 million crypto transactions so far.
The user base of BuyUcoin has grown over 1,400 per cent between January to December 2021. With rapid growth of 843 per cent in 2021, every fourth BuyUcoin user is a female.

In terms of user base, southern Indian states led, with Karnataka, Telangana and Tamil Nadu as leaders, accounting to 27 per cent of the user share. Northern states like Uttar Pradesh, Delhi and Haryana constitute about 24 per cent of the user base.
Western states including Maharashtra, Gujarat and Rajasthan bring every fifth user on the platform. West Bengal, meanwhile, contributes a little less than five per cent of the user base.
“We are looking at the year 2022 with a great amount of optimism and hope. We will see the crypto market enter a more mature phase with sustained growth momentum,” said Shivam Thakral, CEO, BuyUcoin.
The regulatory framework in India and across the globe will play a pivotal role in transforming the crypto industry from a nascent to a mainstream industry, he added.
About two-third BuyUcoin users are between 18-34 years of age, whereas more than 25 per cent of users are between 35-55 years of age. More than 20 per cent of users are older than 45 years.
BuyUcoins registered most traders in Bitcoin, Ethereum, Ripple, Shiba Inu, Dogecoin, Cardano, Solana. NFTs and Defi Space topped among the segments, followed by memecoins.
The platform has doubled its headcount in 2021 and employs more than 55 people so far.
The management believes that healthy regulation of crypto assets will ensure that a large crypto startup ecosystem is given proper nurturing for making a substantial contribution to the country’s economy.
“We will see a significant rise of metaverse in India which will begin with increased awareness of the metaverse concept and how it can contribute to the digital economy of India,” said Thukral.

Source link

Leave a Comment

%d bloggers like this: