KuCoin Survey Says India Has 115 Million Crypto Investors KuCoin Survey Says India Has 115 Million Crypto Investors

Early this week, KuCoin released a survey regarding the new developments in India’s blockchain and crypto space – Into The Cryptoverse Report India, which revealed that the number of crypto investors in the country was in the range of 115 million as of June 2022.

These people have either traded or held crypto assets in the past six months, the study claimed.

Crypto investors have a youthful profile

KuCoin’s India survey presents a cheerful crypto investment landscape in the country. It says that 115 million crypto investors represent 15% of India’s population in the 18-60 age group, while another 10% of the same group are crypto-curious consumers who plan to invest in the asset in the next six months.

The demographic profile of crypto investors continues to grow young, as 39% of all in the first quarter of 2022 are aged 18-30, an increase of 7% over the previous quarter. First-time crypto buyers make up 39% of young investors under the age of 30. They have started trading only in the last three months.

Obstacles in crypto investments

“The ambiguity of government regulations has been a key factor deterring potential investors. 33% report that government regulation is a concern when considering investing in crypto. The security of investing in crypto is also a concern for many, as 26% worry that hackers are a threat, and 23% fear they might not get their money back in case of security incidents, a KuCoin PR said about the survey .

The study says that the lack of adequate knowledge about crypto-investment is the main obstacle in the growth of crypto-investment in India. It cites 41% of respondents saying they don’t know what type of crypto products they should choose for investment. 21 percent of respondents said they do not understand how digital assets work, and 27% find it difficult to predict market directions.

Subdued investor sentiment

Investment sentiment is currently subdued due to the market downturn. It reflects investors’ preference for maintaining the current level of crypto investment rather than increasing it. Looking at the lofty prospects, the Indian government has announced the launch of the CBDC, which has further fueled local interest in the digital economy, said KuCoin PR.

Last month, KuCoin’s CEO said India would emerge as a key market in the long run, thanks to the local “expertise” and “inviting market.” “India accounted for a whopping 5.6 million new customers that KuCoin added in the first half of 2022,” he explained.

In May, KuCoin announced plans to launch an NFT exchange through its liquidity trading platform Pool-X, scheduled to launch in November.