Indians Embracing Cryptocurrency in Their Vast Numbers


India certainly appears to be moving towards being a crypto-friendly country, as more and more continue to embrace virtual currency in huge numbers.

According to data that was found, it has been revealed that around 14% of the world’s cryptocurrency transactions took place from the Asian country, with it also being found that the nation has the second-highest number of crypto holders on the planet, too.

It was found that only Vietnam had a larger base of users, whilst India had a market growth rate of 641% in 2021; Pakistan had a growth rate of 711%.

What are the reasons that help explain the Indian population’s embracing of crypto?

Naturally, there will be a few different reasons that will highlight why so many Indians have decided to embrace adopting cryptocurrency, with some perhaps more obvious than others.

Live Bitcoin casino platforms have become one of the biggest reasons for many, as the country’s population continues to have a growing affinity for wagering activities. Many are now using virtual currency to play their favorite games because of the vast benefits that they have been able to experience when using their preferred method.

This includes faster transactions that can be made across borders with no issues, whilst also being able to enjoy security benefits in addition to protecting their identities via the use of the blockchain.

Another reason, though, is the fact that crypto investing has significantly grown in popularity and has become widely accessible to the population compared to traditional and conventional methods that are more established.

Investing by traditional means has been rather closed off to the general population within the country, however investing with crypto has allowed everyone to get involved. It also provides them with a simplistic approach and one that can provide them with the rewards that they seek when they partake in the activity.

Crypto investing has become popular as individuals are able to enjoy quicker transactions, thus having access to any returns quicker, whilst also being able to make decisions in a second and potentially benefit from them immediately. For instance, traditional means had meant Indians could have to wait a matter of days to even get involved, whereas using virtual currency has eliminated the wait time to a matter of hours, or even minutes in some cases.

The way Indians want to be paid has also had a significant influence on the number of people investing and holding in crypto throughout the country, as a lot of the workforce who work for companies that are based overseas have started to request that they are paid in this way. It might be hard to work out the reasons why, however there is no denying that it has become very popular.

Final Thoughts

It is clear that India is becoming a crypto-friendly country and it is a nation that is certainly worth keeping an eye on in the future. If a nation with a population of over a billion people can make it work, then perhaps others in the world can, too.