The Indian crypto exchange WazirX published its report on the “crypto year 2021” on Thursday. “WazirX has seen a huge surge in registrations, bringing us over 10 million users, ”the report reads, adding that the exchange reached over $ 43 billion in trading volume, 1.735% more than last year.
“By November 30, 2021, 82% of WazirX users had benefited from crypto investments, which means their crypto portfolio has all grown.”
The exchange declares that Bitcoin (BTC) remains the most traded crypto on the platform. Other heavily traded cryptocurrencies are Tether (USDT), Shiba Inu (SHIB), Dogecoin (DOGE), Wazirx (WRX) and Matic (MATIC).
“To make cryptocurrencies accessible to all Indians, WazirX has added over 200 currency pairs by 2021.”
The report contains a survey that the exchange carried out among its users. Overall, 44% said that cryptocurrencies make up 10% of their portfolio. WazirX said:
“We have seen over 700% growth in registrations from smaller cities like Guwahati, Karnal, Bareilly and others. It shows that semi-urban and rural Indians are gradually accepting cryptocurrencies. “
Additionally, 61% of respondents said crypto helped them, while 78% specifically stated that crypto helped them financially. The exchange also saw the number of female customers signing up for new accounts increased 1,009% and the number of men increased 829%.
Meanwhile, the Indian government is actively working to bring about clearer regulation of crypto. A bill on cryptocurrency was presented for consideration during the session of Lok Sabha – the lower house of India’s parliament. However, the government is revising the bill and is expected to introduce it at the budget meeting.
Prime Minister Narendra Modi was also involved in India’s crypto regulation. Although the government has not released the details, it is reported that the country is planning to regulate it in the form of crypto assets.
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According to News.bitcoin