According to the latest survey, crypto-inspired investors see crypto as a big opportunity, but they want a clear regulation framework around crypto-assets.
CoinDCX, one of the prominent Indian cryptocurrency exchanges, has rolled out a report entitled “The Mood of the Nation Survey.” The major goal of the survey is to find the crypto trends in the region and to know what investors think about Bitcoin. The results of the survey remain highly optimistic as most of the people find it a mandatory investment class, which is a good thing for the future of the leading digital asset in India.
Young People are Crypto-Inspired
A total of 11,000 investors all across India took part in the survey, who involved in the trading of crypto and non-crypto assets. The results show that young people are more attracted towards cryptocurrency and recognize its potential in a broader perspective. Almost 69% of the respondents whose age falls under 35 consider Bitcoin a “good investment class.”
The exchange wrote in his survey report that India-based millennials are largely inspired by the digital assets and digital economy and are taking it an integral part of the investment portfolio along with other traditional trading instruments.
According to reports, the Indian traders represent only 1% of the total global crypto trading volume which is a very little figure as India‘s population contributes to 17% of the world population.
The crypto exchange also finds that regulatory uncertainty around cryptocurrency is a major hurdle in the recognition and adoption of cryptocurrency among Indian traders and investors. The results from all ages and all categories of investors show regulation is a major thing, which is creating disturbance for people to invest in Bitcoin and other cryptocurrencies. High-income producers are even more tensed about this situation.
People from all ranks, including people above 40, undergraduates, real estate investors, and banking employees, are also convinced that clear regulation is a necessary thing for crypto proliferation across the country.
However, the crypto community in India has witnessed a clear growth after the Supreme Court of India lifted the ban over cryptocurrency in March 2020. In September, it was reported that the Indian government was working over launching a new crypto ban.
The unclear rules and regulations are a major obstacle in crypto adoption all over the world, including India. But soon, the world will see a new order in the financial world as the digital economy is happening right now.