What Does Kucoin's New Report Say About Indian Crypto Investors? | Crypto

What Does Kucoin’s New Report Say About Indian Crypto Investors?

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-Crypto exchange Kucoin recently published a report that provided insight into the cryptocurrency space in India.
-The survey conducted published information about the new developments in Indias blockchain space
-According to the report, the crypto economy of India has been rapidly growing.
-More than half of these investors have been planning on increasing their investments in the next six months.
-The survey by KuCoin lasted from October 2021 to June 2022 which the company had described as an in-depth look into the development of the blockchain industry and crypto space in India.
-KuCoin India has depicted their results that the digital asset space in India is a fairly younger population.
-It read that 115 million investors represent 15% of Indias population within the 18-60 year age group.
-The other 10% of the same group are still interested in investing in the same over the time span of six months.
-The survey respondents were a total of 2,042 Indian adults ranging between the age of 18 to 60 according to Kucoin.
-The United Nations Conference on Trade and Development also conducted a report that estimated the number of investors within the country.
-In a report published in June, the organisation mentioned that 7.3% of the total population in the country owns crypto.
-The demographic structure of investors has become younger because 39% of all the first quarter of 2022 are between the age of 18-30 years.
-This had marked a 7% increase in the previous quarter.
-Investors who are investing for the first ever time constitute 39% of young investors below 30 years.
-They have also started trading in the past three months.
-Furthermore, there is another issue with the Indian government and its stance on digital assets.
-The report suggested that, despite the local governments stance on digital assets and the levying of a 30% tax on income received from digital assets, the Indian crypto market is expected to reach $241 million by 2030.

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