- WazirX, India’s biggest crypto service provider, has seen a 2,648 percent surge in sign-ups on the platform.
- The organization has reported that the significant contributors to this surge are women from small cities in India.
- According to the data provided, the organization has around 55 percent sign-ups from Tier-III and II cities of the nation.
WazirX is one of the first and the biggest crypto service provider in India, the world’s second-most populous nation. The crypto service provider, situated in the state of Mumbai, Maharashtra, has seen the biggest surge in the influx of new users to the platform.
As it traced the location and gender of these users for statistical knowledge, a whopping 2,648 percent surge in the number of users across different cities, towns, as well as Tier-II and Tier-III cities in the nation was recorded. Further analysis of this data was done to reveal news facts about crypto participation in the nation.
Increase in female participation in WazirX
Female participation in the world of cryptocurrencies in the nation has significantly increased. The crypto industry in India has been majorly dominated by the rich and individuals with a technical background for years. But, the times seemed to have changed as women, and people from Tier-II and Tier-III cities have signed up on WazirX.
A major increase of 2,950 percentage in Tier-II cities was recorded, which includes Uttar Pradesh capital Lucknow and Bihar’s capital Patna. Another huge surge of 2,455 percent was recorded in Tier-III cities like Imphal in the northeast and Ranchi.
Individuals seeking financial independence
There are plenty of individuals that seek financial independence in India, and crypto seems to be one of the biggest and most easy ways to provide humongous returns in a relatively short period of time when compared to gold.
Amidst the market recovering from the bearish trend, we can see a huge wave of youngsters from the Tier-II and Tier-III cities taking part in cryptocurrency investment.