Cryptocurrency finds several takers in India, survey shows really interesting trends

New Delhi: Although the Indian government has not conferred any validity to trading in cryptocurrencies like Bitcoins, Dogecoin and Ethereum among others, the same seem to have found many takers in the country. According to a recent study conducted by Kantar, the main age group which own cryptocurrency in India ranges from 21 to 25 years, residing mainly in Metropolitan cities. 

The sample survey of the research for men and women with age range from 21 to 55 years. The interviews were from Bombay, Delhi, Chennai, Kolkata, Pune, Hyderabadk, Bangalore, Ahmedabad, Indore, Patna, Jaipur and Lucknow.

The survey also found that most Indians are trying to better understand how crypto works and whether it is worth the investment. (Also Read: Google adds new visual search features in shopping, video push )

Five most preferred currencies are as follows:-
Bitcoin with 75% share
Dogecoin with 48% 
Ethereum with 40% share
Binances coin 23%
Ripple's XRP 18%

The study suggested about 83% of urban Indians are aware of crypto currency but only 16% owned cryptocurrency. Crypto owners prefer cryptocurrency in mutual funds or fixed deposits and life insurance.

Delhi ranks 1st in the percent of people interested in cryptocurrency, followed by Bombay and Bangalore at 17% and 12% respectively. Hyderabad comes 4th with 7% and Pune comes 5th with 6% of respondents having interest in crypto. (Also Read: Motorola Moto Tab G20 to launch on Sept 30 ahead of Flipkart Big Billion Days: Price, Specs, features )

Crypto Exchange like Wazir X, Zebpay, Coin Switch and Kuner, are most used apps to purchase the currency. The report also mentioned how Elon Musk tweeting about not accepting Bitcoin for the purchase of Tesla vehicles, created a major setback for the crypto currency.