Cryptocurrency exchange KuCoin's research on the Indian cryptocurrency ecosystem came out on Tuesday. It contains the findings of a study carried out between October 2021 and June 2022, which the firm described as "an in-depth look into the evolution of the <a href="https://www.cryptoknowmics.com/news/what-are-the-next-updates-on-the-ethereum-blockchain/" target="_blank" rel="noopener">blockchain</a> sector and crypto space" in India.

KuCoin reported that 2,042 Indian adults between the ages of 18 and 60 participated in the survey and 1,541 of them self-identified as crypto investors, and another 501 were crypto-curious consumers who planned to invest in cryptocurrencies within the next six months.

The company stated,
<blockquote><em>"The size of crypto investors has seen mild growth over the past few months despite the enactment of new tax regulations. With the country’s large technology-driven young population, rapidly growing internet users, and fintech advancement, crypto is on its way to greater adoption, making India a key crypto hub."</em></blockquote>
<h2>UNCTAD Estimated Crypto Investors In India</h2>
Recently, the number of crypto investors in India was also assessed by the United Nations Conference on Trade and Development (<a href="https://unctad.org/" target="_blank" rel="nofollow noopener">UNCTAD</a>). According to a survey released in June by the organization, 7.3% of the Indian overall population has digital currency. The Indian population was estimated at 1.41 billion by the UN in July.

Despite the current decline in the cryptocurrency market, the report continues:
<blockquote><em>"More than half [of] crypto investors plan to increase their investment in crypto in the coming six months, indicating an optimistic sentiment towards the market."</em></blockquote>
<h2>Indian Crypto Market To Reach $241 Million By 2030</h2>
The paper also states that the Indian crypto market is "predicted to reach $241 million by 2030, besides the local government's stance on digital assets and the implementation of a 30% tax on income received from digital assets."

Understanding, regulation, and security are the top three obstacles to investing in crypto assets. According to the report,
<blockquote><em>"33% report that government regulation is a concern when considering investing in crypto. The safety of investing in crypto is also a concern for many, as 26% worry about hackers being a threat, and 23% fear that they may not get their money back in case of security incidents."</em></blockquote>

With 115 Million Investors, The Indian Crypto Market Is Growing

The company reported that Indian adults between the ages of 18 and 60 participated in the survey and that they self-identified as crypto investors.

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With 115 Million Investors, The Indian Crypto Market Is Growing

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