BuyUcoin Says Five States Contributed 830 Cr To Crypto Investments In 2021

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According to statistics from BuyUcoin, Karnataka, Maharashtra, Uttar Pradesh, Delhi and Haryana are the top five Indian states that contributed more than 830 crore to crypto investments in 2021. The crypto exchange, however, did not disclose the overall amount invested on its platform.

The year 2021 can be seen as a pivotal year for the crypto market in which the original cryptocurrency, bitcoin, jumped over 70% to its all-time high of $ 69,044.77. Additionally, the crypto market capitalization has reached the $ 3 trillion mark for the first time.

During the year, BuyUcoin saw its user base grow by 1,436% with a 24% participation from female investors. The number of participants jumped 843% compared to 2020.

BuyUcoin was founded in 2016 by Shivam Thakral, Atulya Bhat, and Devesh Agarwal.

According to the exchange, it has processed over 28 lakh buy / sell orders for crypto assets.

In terms of breakdown by state, Karnataka’s total investments stood at 196.47 crore, followed by Maharashtra (175.42 crore), Uttar Pradesh (155.78 crore), Delhi (153.82 crore) ) and Haryana (150.23 crore).

In addition, the southern Indian states dominated in terms of user base, with Karnataka, Telangana and Tamil Nadu accounting for 27% of the user share. Northern states such as Uttar Pradesh, Delhi and Haryana account for around 24% of all users.

One in five users on the platform are from Western states such as Maharashtra, Gujarat and Rajasthan. Meanwhile, West Bengal accounts for less than 5% of the user base.

About two-thirds of BuyUcoin users are between 18 and 34 years old, with more than a quarter between 35 and 55 years old. Over 20% of users are over 45 years old.

BuyUcoin has the most bitcoin, ethereum, ripple, shiba inu, dogecoin, cardano, and solana traders. Non-fungible tokens (NFTs) and decentralized finance spaces (DeFi) were the most popular portions, followed by even coins.

“We are looking ahead to 2022 with a lot of optimism and hope. We will see the crypto market enter a more mature phase with sustained growth momentum. Sound regulation of crypto assets will ensure that a large ecosystem of crypto startups is properly nurtured to make a substantial contribution to the country’s economy, ”said Thakral, CEO of BuyUcoin, which has 350,000 users.

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