Tier-2 and tier-3 cities are now driving India’s crypto adoption, surpassing metro participation rates, CoinDCX CEO Sumit Gupta told TOI. Nearly 40% of CoinDCX’s users hail from smaller centers, with Indore emerging as a standout. The city has seen close to 10% of its population — roughly 3.4 lakh people — invest in digital assets through the platform, significantly higher than Mumbai’s estimated 2-3% participation.
CoinDCX, which claims over 2 crore users and a leading market share in India, opened an office in Indore in October to deepen outreach beyond metros. Gupta noted the average user age is 30-35.
On regulation, he said India is moving in the right direction but comprehensive digital-asset laws may take a few years. Analysts say rising financial awareness and greater digital access are reshaping investment patterns in smaller cities, signaling the next phase of crypto growth in India.
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