Indian Crypto Exchange Market Set To Expand
In India, the average transaction value for cryptocurrency investments per month is around 9000 INR. The total addressable market (TAM) is calculated using the yearly salary of people trading/investing in cryptocurrencies, which is larger than 5,00,000 INR. In 2021, Bitcoin and Ethereum dominated the Indian crypto exchange sector.
Increase in Crypto Investments, Non-Fungible Tokens gaining popularity in the future, and the arrival of International Cryptocurrency Exchanges in India all point to the market’s potential.
Centralised Crypto Exchanges give more liquidity, which leads to faster trading and a more user-friendly and transparent transaction interface.
Around 70% of all Indian crypto investors are between the ages of 20 and 40, owing to a tech-savvy youth interested in crypto investment.
Indians aged 20-40 are the most likely to be interested in trading and cryptocurrency market, accounting for 70% of the market share in 2021. With easy access to the internet, this tech savvy generation has started to take initiatives to understand the cryptocurrency market and its benefits. Overall, women participation increased by 1000% on cryptocurrency exchange platforms in 2021, with Bitcoin being the favorite among women and Shiba Inu being the most traded crypto among men.
(With inputs from Shikha Singh)
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