Cryptocurrency market in India 2022
Cryptocurrency market in India 2022
Abstract
Cryptocurrency is an encrypted and decentralized virtual currency. Usually, cryptocurrencies are not issued or maintained countries’ central authorities or other financial institutions. There are two types of cryptocurrencies – public and private. Bitcoin, Ripple, Altcoin, and Ethereum are some of the popular forms of cryptocurrencies that are transacted in India.
Adoption of cryptocurrency in India:
India is one of the leading markets for cryptocurrency exchange in Asia, with the second-highest adoption rate in the world. On the Global Crypto Adoption Index, India’s index score was 0.37 in 2021, after Vietnam, which had the highest adoption index score of 1. Cryptocurrency adoption grew by ~586% in India during the 2020 – 2021 period. At present, the country has around 15 million people who hold cryptocurrency assets.
Many new retail investors invested in cryptocurrency platforms after the government lifted the ban on crypto transactions following the Supreme Court’s intervention. Cryptocurrency user subscriptions from tier II and III towns grew by ~2000% from January 2020 to January 2021
Impact of COVID-19:
The pandemic, followed by lockdowns, led to economic problems in the country. People started to look for ways to augment their incomes, trading being one of them. At present, cryptocurrency is one of India’s fastest growing sectors and has immense earning opportunities for people. Investments in cryptocurrency increased by ~612% from April 2020 to May 2021. The cryptocurrency market in the country witnessed exponential growth since the onslaught of the pandemic.
Cryptocurrency exchanges:
•Bitbns
•CoinDCX
•CoinSwitch Kuber
•Unocoin
•WazirX
Content
Table of Contents
Chapter 1: Executive Summary
Chapter 2: Socio-economic Indicators
Chapter 3: Introduction
3.1. Introduction to digital currency
3.2. Introduction to cryptocurrency
3.3. Evolution of cryptocurrency in India
3.4. Public and private cryptocurrencies
Chapter 4: Global Cryptocurrency Market
4.1. Global Cryptocurrency Market
Chapter 5: Adoption of Cryptocurrency in India
5.1. India’s Position on Global Crypto Adoption Index
5.2. Cryptocurrency transactions in India
Chapter 6: Government Initiatives
6.1. Government Initiatives
Chapter 7: Market Influencers
7.1. Market drivers
7.2. Market challenges
Chapter 8: Impact of COVID-19
8.1. Impact of COVID-19
Chapter 9: Cryptocurrency Exchanges in India
9.1. Cryptocurrency exchanges
9.1.1. Bitbns
9.1.2. CoinDCX
9.1.3. CoinSwitch Kuber
9.1.4. Unocoin
9.1.5. WazirX
Chapter 10: Recent developments
10.1. Recent developments
Chapter 11: Appendix
11.1. Research methodology
11.2. About Netscribes
11.3. Disclaimer
Cryptocurrency is an encrypted and decentralized virtual currency. Usually, cryptocurrencies are not issued or maintained countries’ central authorities or other financial institutions. There are two types of cryptocurrencies – public and private. Bitcoin, Ripple, Altcoin, and Ethereum are some of the popular forms of cryptocurrencies that are transacted in India.
Adoption of cryptocurrency in India:
India is one of the leading markets for cryptocurrency exchange in Asia, with the second-highest adoption rate in the world. On the Global Crypto Adoption Index, India’s index score was 0.37 in 2021, after Vietnam, which had the highest adoption index score of 1. Cryptocurrency adoption grew by ~586% in India during the 2020 – 2021 period. At present, the country has around 15 million people who hold cryptocurrency assets.
Many new retail investors invested in cryptocurrency platforms after the government lifted the ban on crypto transactions following the Supreme Court’s intervention. Cryptocurrency user subscriptions from tier II and III towns grew by ~2000% from January 2020 to January 2021
Impact of COVID-19:
The pandemic, followed by lockdowns, led to economic problems in the country. People started to look for ways to augment their incomes, trading being one of them. At present, cryptocurrency is one of India’s fastest growing sectors and has immense earning opportunities for people. Investments in cryptocurrency increased by ~612% from April 2020 to May 2021. The cryptocurrency market in the country witnessed exponential growth since the onslaught of the pandemic.
Cryptocurrency exchanges:
•Bitbns
•CoinDCX
•CoinSwitch Kuber
•Unocoin
•WazirX
Table of Contents
Chapter 1: Executive Summary
Chapter 2: Socio-economic Indicators
Chapter 3: Introduction
3.1. Introduction to digital currency
3.2. Introduction to cryptocurrency
3.3. Evolution of cryptocurrency in India
3.4. Public and private cryptocurrencies
Chapter 4: Global Cryptocurrency Market
4.1. Global Cryptocurrency Market
Chapter 5: Adoption of Cryptocurrency in India
5.1. India’s Position on Global Crypto Adoption Index
5.2. Cryptocurrency transactions in India
Chapter 6: Government Initiatives
6.1. Government Initiatives
Chapter 7: Market Influencers
7.1. Market drivers
7.2. Market challenges
Chapter 8: Impact of COVID-19
8.1. Impact of COVID-19
Chapter 9: Cryptocurrency Exchanges in India
9.1. Cryptocurrency exchanges
9.1.1. Bitbns
9.1.2. CoinDCX
9.1.3. CoinSwitch Kuber
9.1.4. Unocoin
9.1.5. WazirX
Chapter 10: Recent developments
10.1. Recent developments
Chapter 11: Appendix
11.1. Research methodology
11.2. About Netscribes
11.3. Disclaimer
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