Over 50% of Indian crypto investors intend to increase their investments over the next six months as they view the asset class as a long-term investment rather than hype, according to a report by cryptocurrency exchange Kucoin.
See related article: Most Indian traders impacted by India’s crypto tax: survey
Fast facts
- While 56% of crypto investors believe crypto is the future of finance, 54% believe crypto will bring them a higher return on investment in the long term, the KuCoin report said.
- Only 24% of young investors consider crypto as hype, the report said. Another 10% of Indian adults are curious about cryptocurrencies and are planning to invest in crypto over the next six months, the research said.
- One of the key concerns of investors is safety, the research pointed out, with 26% worried about hackers being a threat, and 23% fearing that they may not get their money back in case of a security breach.
- The survey revealed that as of June, there were about 115 million crypto investors in India, or 15% of the Indian population aged 18 to 60 years, who either hold crypto or have traded crypto in the past six months.
- The Indian crypto market is expected to reach US$241 million by 2030, Kucoin’s report said.
- Kucoin said its report is based on a total sample of 2,042 Indian adults aged 18 to 60 who were polled from October 2021 to June 2022.
See related article: India’s tax bogeyman is scaring off young crypto investors