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Bangalore Among Top 3 Indian Cities for Crypto Adoption

Bangalore among top 3 India cities with the highest crypto adoption in India, measured in terms of value invested, an annual investor report by CoinSwitch, India’s largest crypto investing platform with over 19 million registered users.

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India’s Portfolio 2022, an annual investor report by CoinSwitch, also show Bitcoin, the largest crypto asset by market capitalization, continue to be the most popular coin for retail investors in 2022. 

Bangalore among top 3 India cities with the highest crypto adoption in India, measured in terms of value invested, an annual investor report by CoinSwitch, India’s largest crypto investing platform with over 19 million registered users.

The report, India’s Portfolio 2022, published on Wednesday, analyses the actual investing patterns of India’s crypto users, providing an insight into how the country responded to a year of rising inflation, market downturns, and landmark events such as the Ethereum Merge, the company said.

Highlights from India’s Portfolio 2022:

  • Metros with the highest crypto adoption: Delhi, Bangalore, Hyderabad
  • Tier-2 cities with the highest crypto adoption: Jaipur, Lucknow, Pune
  • Coins that India holds the most: Bitcoin, Dogecoin, Ethereum
  • Share of women crypto investors in India: 7%

“2022 has had its share of economic, geopolitical, and market difficulties. It is important to understand how India’s investors responded to the changed circumstances. Did they diversify their portfolio? Were they reactive? India’s Portfolio 2022 provides a comprehensive and quantitative analysis of the investing patterns India followed in the year,” said Ashish Singhal, CEO and Co-Founder, CoinSwitch.

A unique insight from the report was that investing patterns followed by men and women were largely similar in India, though at 7%, women represent a small albeit growing pie of India’s crypto investors.

The capital allocation of men and women, across categories of crypto assets:

“At CoinSwitch, our mission is to make money equal for all—to give every Indian an equal opportunity to invest and create wealth. That India’s men and women follow broadly the same investing pattern shows we are on the right path: There is no information asymmetry; access to knowledge and tools to make wise investment decisions are equal for everyone on CoinSwitch,” Singhal added.

CRE8 or Crypto Rupee Index (CRE8) is India’s first benchmark index to measure the performance of the Indian Rupee-based crypto market. CRE8 comprises the top eight crypto assets with over 85% of the total market capitalization, and includes bitcoin and Ethereum. Decentralized Finance or DeFi utility tokens include Maker (MKR) and Sushi (SUSHI). Metaverse coins include Decentraland (MANA) and Axie Infinity (AXS). Ethereum Alternatives are Cardano (ADA), Cosmos (ATOM), Solana (SOL), among others. Shiba Inu and Dogecoin are Meme coins.

The full insights from India’s Portfolio 2022 can be found here.

 

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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