HomeNewsWazirX report shows more Indians betting on crypto

WazirX report shows more Indians betting on crypto

While the state of crypto in India is still unclear, a recent report from WazirX shows increasing optimism among Indians in the technology. According to the report, not only people are venturing into this industry, but the existing customers are increasing their shares.

The popular Indian crypto exchange has released its latest report ‘Highlights & Observations from 2021: The Year of Crypto’. In this report, WazirX stated that 44% of its respondents have over 10% of their overall investment portfolio.

Surprisingly, only 11% of the respondents above 51 years allocated over 50% of their total portfolio. On the other hand, 29% of respondents aged 18-24 allocated over 50% of their total portfolio.

Following that, the report states that more people are relying on crypto as a hedge to protect their portfolios from inflation. The following fact becomes more intact when we see that WazirX had a record trading volume of over $43 billion this year. Also, its user base touched 10 million in November this year, a tremendous jump from 1 million last year.

Regarding the following report, CEO Nischal Shetty said:

“The Government’s impetus towards a regulated approach for crypto would put India on the world map with other developed countries dealing in crypto.”

Crypto is not only witnessing its growth concerning investments, it’s applicable for careers too. According to the report, 54% of the respondents are interested in pursuing a career in the crypto space.

According to LinkedIn’s Economic Graph team, the crypto industry directly or indirectly employs about 50,000 people. Many reports also estimate that the crypto market can create 8 lakh jobs by 2030.

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