Crypto investments are gaining ground – The Hindu BusinessLine

[ad_1]

With the rise of cryptocurrency trading in the country, the average investment of individual investors is on the rise. Despite concerns about the legality of cryptocurrencies and regulatory uncertainties, the average investment per individual fell from 6,000 to 8,000 per individual a year or two ago.

Target the new generation

Sathvik Vishwanath, co-founder of cryptocurrency exchange Unocoin, said average investment on a sector basis has increased by around 25% over the past two years. This despite, “for most investors, their disposable income does not increase significantly,” he said.

Likewise, CrossTower, which launched operations on September 7, said the average investment per person was 6,000 per month. There have been over 1 lakh of downloads of his app, he claimed. He also reported an increase of more than 3,000% in the number of customers since September 30.

Most players say crypto trading continues to be dominated by 25-35 year olds with limited disposable income. Many are experimenting with investments in this category and prefer to remain cautious. According to crypto industry sources, Indian investors continue to maintain discipline over crypto investments as they understand that there is some risk associated with it.

SIP option too

But some platforms report much higher investments. “At Bitbns, we offer our customers a SIP option called Bitdroplets. Currently we have over 2.5 lakh of active SIP folios with an average investment size of 22,000. Over the past year, the stock market has seen the average investment ticket size increase by 120%, ”said CEO and co-founder Gaurav Dahake.

More scholarships aligned

With increasing investor interest, many more exchanges are moving to India, even though the government is still not resolved to regulate or ban cryptocurrencies.

“Based on our previous operations, the average size was over 1 lakh, but new investors are in the range of 50,000,” said Praveen Kumar, founder and CEO of Belfrics Group, which recently relaunched its exchange. of cryptocurrency in India.

He plans to offer a total of 25 coins to his traders and expects more than 30% of his monthly volume to come from India. It also plans to open more than 200 physical crypto centers over the next six months.

The WazirX crypto exchange reported a transaction volume of over $ 36 billion in the year 2021, marking an average growth of 44% month-over-month. Registrations on its platform in level 2 and -3 cities increased by 2,648%.

[ad_2]