TL;DR Breakdown
• WazirX reports that its crypto operations increased 1000 percent.
• The crypto platform admits that women trade more BTC than other cryptos.
WazirX, one of the best crypto exchanges in India, achieved a record trading volume of $43 billion. This shows that the cryptocurrency platform has grown by more than 1500 percent compared to 2020 operations. According to reports, one of the cryptocurrencies most traded on WazirX from India is BTC which indicates that the market leader crypto is still not losing its position.
WazirX has at least 10 million active clients between crypto enthusiasts and investment firms. As a crypto gain priority in the financial market, WazirX has taken it upon themselves to manage it in India.
Crypto platform shows BTC trading volume rising in India
Generally speaking, WazirX clarifies that virtual operations will increase in 2021. However, their investigations further show that most of their transactions are based on BTC, ETH, SHIB and even Dogecoin.
On the other hand, the Indian firm shows that crypto transactions between women increased by a thousand percent in the last twelve months. At the same time, crypto transactions between men exceed the standard by 800 percent compared to last year. The crypto adoptions between genders look more balanced in 2021 within India than in previous years’ operations.
Many of the surveyed said that they started investing with BTC and another crypto on the recommendation of a family member or friend. Another part of the citizens says that they use cryptos because of the adoptions wave that came to the country.
Cryptocurrencies in India gain more importance than fiat money
WazirX, which was commissioned to do one of India’s largest surveys on cryptocurrencies, reveals that more than 40 percent of the people quoted place more importance on tokens than fiat money. Many respondents even suggest that cryptos occupy more than 10 percent of their virtual money.
A quarter of Indian citizens who trade BTC are aged 24 or older, indicating that most traders are young. At least 10 percent of crypto fans are over 50, and the remaining percentage would go to investors between 25 and 49 years old.
Nowadays, the most used crypto in India is USDT, BTC, DOGE, SHIB, and Magic. However, WazirX said crypto adoptions in India would continue to rise.
Even though the cryptocurrency market has been suppressed on several occasions within India, WazirX shows that its trading has not been affected. India could become one of the top countries using cryptos, but the dispute continues.
