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New user registrations for crypto grew faster in non-metros in 2021

New user registrations for crypto grew faster in non-metros in 2021
Written by publisher team

Chennai: Largely driven by first-time users – despite ongoing regulatory stalemate – 2021 turns out to be an application of crypto in semi-urban and rural India.
For the Indian crypto exchange, new user registrations from Tier 2 and 3 cities saw a growth of 1851%, compared to 1759% growth among metro cities in 2021, compared to the previous year. A high percentage indicates a low user base.
Its founder, Nischal Shetty, said that adoption of crypto-trading was higher among females. “The number of new female users increased by 1,09%, versus the 829% growth recorded in the increase of male subscriptions,” Shetty said.
Another crypto exchange, CoinDCX, has seen an increased adoption of cryptocurrency in cities like Indore, Lucknow, and Agra, compared to the metro. Cryptocurrency investors are largely made up of a younger audience – the 18-34 age group – representing more than 70% of the total user base. Regarding the regional penetration of the currency, users who speak their mother tongue like Gujarati, Marathi, Tamil, Bengali and Telugu seem to be the top five languages ​​after Hindi.
Sumit Gupta, Co-Founder and CEO at CoinDCX, said, “Among the top geographies, the northern region has been a major driver of new coin movement through a mixture of Tier 1 and Tier 2 cities. Among the Tier 2 cities across regions, Pune, Patna, and Jaipur are located in Pune, Patna, and Jaipur. , Indore, and Agra are among the top 15 general cities, along with Lucknow.”
One of the major developments in 2021 was the acceptance of cryptocurrency as an asset of value, with traditional institutional investors offering crypto services to their clients. “In terms of the best crypto wallets for users to buy, old and well-established tokens like BTC and ETH remain in the top five, followed closely by tokens and useful ones. In December 2021, we also saw a strong public interest in exploring crypto-tokens based on the metaverse,” Gupta said. . The exchanges also said that there appears to be a growing interest in cryptocurrency among women which can be attributed to the growing number of new users, around 75% of whom are women.

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