CoinDCX report highlights willingness of Indian Investors towards Crypto

CoinDCX releases a Indian survey report involving crypto investor behavior trends and analysis titled as ‘Mood of the Nation’.

By · Nov 27, 2020 . 6min read

CoinDCX survey report Mood of the Nation news

CoinDCX, a polychain-backed Indian crypto exchange, has released a report titled “The Mood of the Nation Survey” to understand how Indian investors ascertain investing in cryptocurrencies. CoinDCX report emphasizes that 60% of the respondents earning below Rs. 5 lakh p.a. saw it incredibly challenging to fund in crypto owing to a lack of transparent and seamless options accessible. Contrarily, 68% of the respondents earning above Rs. 10 lakh p.a. advocated legal and regulatory clarity as a primary concern for investing in crypto.

Indian landscape for the crypto market

According to the survey, 72% of full-time employees thought crypto is a good asset class to fund. The same applies to 62% of self-employed respondents. However, less than 5% of Indians, including, homemakers and unemployed respondents stated that crypto has zero benefits. The trend showcases the fact that those with regular income were marginally more keen and bullish towards crypto.

However, with respect to educational qualifications, the survey states that approximately 72% of graduates deemed lack of knowledge and awareness was their greatest challenge to access cryptos. Graduates, however, took the lead whereby 73% thought that crypto is an alternative investment class. However, 67% of postgraduates consider crypto as a new asset class and a great investment option.

Considering the age group criterion of the respondents, 27% of the respondents above the age of 40 elucidate that they have never invested in cryptocurrencies. Contrarily, 71% of respondents below the age of 35 state that they have invested in crypto approximately once. Nevertheless, 69% of the respondents under the age of 35 state crypto as a great asset to fund. A prominent number of respondents under the age of 40 suggested that there is no simple way to access cryptocurrency. However, 52% of respondents in the age group of 20-30 see a lack of information and awareness as a significant challenge.

India’s regulatory uncertainties a problem to Crypto adoption

Notwithstanding, India houses 17% of the global population; however, it is accountable for only 1% of the crypto market’s daily volume. CoinDCX’s survey discovered that regulation is a prominent factor holding back Indian crypto traders and investors. Various categories stated that the lack of regulatory clarity in India acts as a hurdle to their cryptocurrency endeavours. This is especially true to investors with high incomes. About 68% of investors who make an income greater than ten lakhs stated that regulations are their most significant challenge. A minority of respondents in other categories also acknowledged that regulations are an issue. It involves undergraduates, respondents older than 40, banking employees, and real estate investors.

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