The crypto industry has hit some exciting peaks and troughs over this last bear market cycle, but prospects have been looking up lately. In India, crypto could find a footing because of the recent digitization wave, and it looks like Indian investors are on their way to making cryptocurrency a bigger deal in the country.
Kucoin recently published a report claiming that over 50% of Indian crypto investors are interested in increasing their investments in the industry over the next six months.
The report in question is quite a thorough reading of the matter, involving 2,042 Indian adults falling into the 18 to 60 years age category, whose responses have turned up some interesting data to analyze. It turns out that investors are viewing the industry as a long-term opportunity for investments and returns instead of a volatile industry that hits highs and lows unpredictably and inconveniently.
The report says explicitly that quite a large chunk of Indian crypto investors consider crypto to be where all kinds of finance are ultimately headed in the foreseeable future~ 56%, to be precise. 54% swear by their belief that crypto is about to turn into big profits for them, with a higher return on investment.
Only 24% consider crypto a hyped-up fad, which means that the entire crypto industry is slowly gaining credibility.
The report also points out that the crypto industry is also finding new entries from the older generation~ the one that did not necessarily engage with the newly digitized country. For example, 10% of Indian adults now express interest in checking out crypto for themselves, maybe even investing.
As of June 2022, the study records the existence of about 115 million crypto investors in India, which itself is already quite a substantial number. This means that 15% of the Indian population aged between 18 and 60 are already on the crypto bandwagon.
And, of course, it is not like the industry is in decline. This number can only be expected to grow further. In fact, by 2030, the Indian crypto industry can be expected to grow to a staggering $241 million by 2030, according to the report published by Kucoin.
Of course, one can not rule out investors' risks. Like any other investment opportunity, the crypto industry is not entirely risk-free.
Naturally, 23% of the respondents have justifiable concerns about losing all their money to crypto crashes, and 26% of the respondents expressed their fears regarding hackers gaining access to their assets or personal information concerning their crypto dealings. It is a valid concern since the idea of any risk is worrisome.
However, the numbers largely point to the direction of a growing number of crypto investigators from India.