In keeping with Indian crypto trade, 82% of customers are making income this 12 months, buying and selling quantity is up 1.735%

Advertisements

A major cryptocurrency exchange in India, Wazirx, reported a “massive surge in user logins” this year, with 82% of users making profits on their crypto investments. The trading volume also increased by 1,735% compared to the previous year. Meanwhile, the Indian government is actively working on regulating the country’s crypto.

$ 43 billion in trading volume, 82% of users generated profit

The Indian cryptocurrency exchange Wazirx published its report “2021 Year of Crypto” on Thursday. “Wazirx saw a massive surge in user logins that resulted in us exceeding 10 million users,” the report said, adding that the exchange saw over $ 43 billion in trading volume, an increase of 1,735% compared to the previous year.

The report states:

As of November 30, 2021, 82% of Wazirx users had made profits on their crypto investments, that is, saw their crypto portfolio grow.

The exchange stated that Bitcoin (BTC) remained the most traded cryptocurrency on their platform. Other heavily traded cryptocurrencies were Tether (USDT), Shiba Inu (SHIB), Dogecoin (DOGE), Wazirx Token (WRX) and matic (MATIC).

“In our efforts to make crypto accessible to everyone in India, Wazirx added more than 200 market pairs in 2021,” the exchange wrote.

The report contains a survey about the exchange of its users. Overall, 44% of respondents said that cryptocurrencies account for up to 10% of their investment portfolio. Wazirx in detail:

We have seen over 700% growth in registrations from smaller cities like Guwahati, Karnal, Bareilly, and others. It shows growing crypto adoption in semi-urban and rural India.

Additionally, 61% of respondents said crypto helped them, while 78% specifically said it helped them financially. The exchange also saw female filings grow 1.09% and male filings grew 829%.

Meanwhile, the Indian government is actively working on cryptocurrency legislation. At the current session of Lok Sabha, the lower house of the Indian parliament, a bill on cryptocurrency was presented for consideration. However, the government is reportedly revising the bill and is likely to bring it to the budget meeting instead.

Prime Minister Narendra Modi was also involved in India’s cryptocurrency legislation. He is reportedly taking one final call about how India will regulate cryptocurrencies. Although the government has not released its plan, there are reports that India plans to regulate crypto assets.

Tags in this story

Crypto Regulation, Cryptocurrency Legislation, India, India Crypto, Indian, Indian Crypto Exchange, Indian Crypto Market, Indian Crypto Regulation, Indian Crypto Trading Volume, Indian Exchanges, Wazirx

What do you think of the findings of the Wazirx crypto exchange? Let us know in the comment section below.

Kevin Helms

Kevin, a student of Austrian economics, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More popular news

In case you missed it


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Google Kinds Web3 Group — Sees Large Potential, Demand for Crypto Tech Help Bitcoin

Google Kinds Web3 Group — Sees Large Potential, Demand for Crypto Tech Help

Google is establishing a Web3 team within its cloud unit, noting that "it is...

By wpadminsonic164
Decentralized Metaverse Socialfi Platform Growth Permits NFT Show in Its App Bitcoin

Decentralized Metaverse Socialfi Platform Growth Permits NFT Show in Its App

sponsored While the latest news and information about cryptocurrency & NFT projects are better...

By wpadminsonic164
US Senator Says He is Bullish on Bitcoin As a result of It is Decentralized, Uncontrollable Bitcoin

US Senator Says He is Bullish on Bitcoin As a result of It is Decentralized, Uncontrollable

US Senator Ted Cruz says one of the reasons he is so bullish on...

By wpadminsonic164
How Bitcoin Saves Individuals In Ukraine Throughout Wartime Bitcoin

How Bitcoin Saves Individuals In Ukraine Throughout Wartime

The article describes Bitcoin's role in the Ukrainian economy during wartime. Although Russia's unprecedented...

By wpadminsonic164
This is Methods to Buy Your First NFT Area on Quik․com Bitcoin

This is Methods to Buy Your First NFT Area on Quik․com

sponsored Minting of NFT domains with exclusive TLDs like .chain, .metaverse, .vr, .doge, .shib,...

By wpadminsonic164
Bitcoin And These Who Represented Its Rules Throughout Time Bitcoin

Bitcoin And These Who Represented Its Rules Throughout Time

A record-setting year is coming to a close. Bitcoin is stronger than it was...

By wpadminsonic164
Mercado Bitcoin is the brand new sponsor of the Brazilian soccer membership Corinthians Bitcoin

Mercado Bitcoin is the brand new sponsor of the Brazilian soccer membership Corinthians

Mercado Bitcoin, the largest Bitcoin exchange in Latin America, has signed a sponsorship deal...

By wpadminsonic164
Central Financial institution of Brazil Chooses 9 Establishments to Research Digital Actual Prospects Bitcoin

Central Financial institution of Brazil Chooses 9 Establishments to Research Digital Actual Prospects

The Central Bank of Brazil and Fenasbac, the National Federation of Associations of Central...

By wpadminsonic164

Latest Posts

Could Calyx Token (CLX) be essentially as fruitful as major cryptos like Cardano (ADA) and Ripple (XRP)? – ANI News Cardano

Could Calyx Token (CLX) be essentially as fruitful as major cryptos like Cardano (ADA) and Ripple (XRP)? – ANI News

ANI | updated: May 24, 2022 10:02 IS New Delhi [India], May 24 (ANI/ATK):...

By wpadminsonic164
Bitcoin unter $50K! Kommt jetzt der BÄRENMARKT? Evergrande Zahlungsausfall! | Crypto News Videos

Bitcoin unter $50K! Kommt jetzt der BÄRENMARKT? Evergrande Zahlungsausfall! | Crypto News

NOCH FRAGEN? Schreib ein Kommentar und starte eine Diskussion! ABONNIEREN! Abonnier jetzt um nichts...

By wpadminsonic164
Prime 10 Altcoins to Watch Carefully in 2022 for Good Returns – Analytics Perception Stellar

Prime 10 Altcoins to Watch Carefully in 2022 for Good Returns – Analytics Perception

by Satavisa Pati January 1, 2022 You can invest in these top 10 altcoins...

By wpadminsonic164
Dogecoin: A very good entry set off for DOGE bulls could be discovered at… – AMBCrypto Information Dogecoin

Dogecoin: A very good entry set off for DOGE bulls could be discovered at… – AMBCrypto Information

Disclaimer: The findings of the following analysis are the sole opinions of the writer...

By wpadminsonic164
Polkadot

Top 10 Cryptocurrencies With a Better Future Than Bitcoin – hackernoon.com

Cryptocurrencies gaining popularity due to their ability to provide smooth transaction payments in a...

By wpadminsonic164
‘Night Sky’ Ending Explained and All Your Questions Answered – CNET Stellar

‘Night Sky’ Ending Explained and All Your Questions Answered – CNET

Prime Videos night sky might not be the most high-octane of sci-fi thrillers, but...

By wpadminsonic164
Binance stops Luna and UST exchanging following implosion – TechCrunch Binance

Binance stops Luna and UST exchanging following implosion – TechCrunch

Binance, the world's largest cryptocurrency exchange, has halted the trading of Terraform Labs' Terra...

By wpadminsonic164
Cardano

Ethereum, Ripple, Binance Coin, Cardano, and Polygon – Cardano Feed

This week, we take a closer look at Ethereum, Ripple, Binance Coin, Cardano, and...

By wpadminsonic164