Cryptocurrency: Delhi leads with highest adoption amid RBI governor's warning - The New Indian Express

The crypto unicorn's report on 'How India invests in crypto 2022' says that the platform has 19 million crypto users, of which only 8% are women. About 45% of its users are between 18 and 25 years.
Published: 21st December 2022 09:55 PM | Last Updated: 21st December 2022 09:55 PM | A+A A-
Image used for representational purpose only. (File Photo)
BENGALURU: Though RBI Governor Shaktikanta Das on Wednesday said that the next financial crisis might come from private cryptocurrencies, a report released by crypto investing app CoinSwitch says that Delhi leads the country on crypto adoption, followed by Bengaluru and Hyderabad.

The crypto unicorn’s report on ‘How India invests in crypto 2022’ says that the platform has 19 million crypto users, of which only 8% are women. About 45% of its users are between 18 and 25 years.
Though the year marked bankruptcy, scandals and crypto winter, the report says Bitcoin (12.12%) is the top coin in the country’s portfolio, followed by Dogecoin (DOGE) at 11.54% and Ethereum at 9.43%.
India set aside 40% of its crypto investments on top dollar CRE8 coins and DeFi utility tokens in 2022, and only about 6% in metaverse tokens. The report further adds that Jaipur has allocated the highest share of its investment in meme coins than the rest of the country. At 14.43%, the city’s asset allocation in meme coins is over 2% points higher than Delhi, and over 60% of crypto investors in Gurugram are under 25 years.
Recently, the crypto investing app diversified into other asset classes and revealed its brand identity and a new logo.
Meanwhile, the RBI governor at an event said that his main concern is that cryptocurrencies don’t have any underlying value and that it is speculative.
Reacting to Das’ comments on crypto, Mohammed Roshan, Co-Founder and CEO of GoSats said, “It is unfortunate to see statements such as the one classifying all crypto with no underlying value, while we have seen how assets like Bitcoin have been adopted by countries and institutions as a superior store-of-value.”
He argues that Bitcoin is a hedge against the instabilities in the present financial system. He said that stakeholders in the industry need to work with government officials to help understand what Bitcoin truly is, its inherent value and its potential. “Until that happens, all of the issues within the crypto sector would affect the adoption and growth of Bitcoin in the country,” he added.
O
P
E
N
Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.
The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.
‘Tell us how many drug mafias you caught through Pegasus’: Congress MP asks Shah
Three cases of Omicron subvariant BF.7, driving China’s Covid surge, detected in India
No job, barred from education, hopeless Afghan women anguished at university ban
How Indian football was murdered — end of a stirring legacy
Crypto could cause next financial crisis: RBI governor
Eight teenage girls charged with murder of homeless man in Toronto’s Canada
Copyright – newindianexpress.com 2022
The Morning Standard | Dinamani | Kannada Prabha | Samakalika Malayalam | Indulgexpress | Edex Live | Cinema Express | Event Xpress
Contact Us | About Us | Careers | Privacy Policy | Search | Terms of Use | Advertise With Us
Home | Nation | World | Cities | Business | Columns | Entertainment | Sport | Magazine | The Sunday Standard

source

How To Make Huge Profits In A Short Time With Crypto
Get detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.