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Report: Average age of Indian cryptocurrency investors rises from 25 in 2022 to 30 in 2023

Report: Average age of Indian cryptocurrency investors rises from 25 in 2022 to 30 in 2023

CointimeCointime2024/01/02 00:34
By:Cointime

According to a new report from cryptocurrency exchange CoinDCX, India achieved its highest ever cryptocurrency trading volume in November 2023, marking a significant increase in activity within the country's digital asset ecosystem. 28 Indian entities became "Financial Intelligence Unit-India registered reporting entities". India has become a leader in global adoption of cryptocurrencies, reflecting sustained interest and strong demand for digital assets. 60% of users are concentrated in 10 cities, with second-tier cities such as Lucknow and Patna surprisingly emerging as leaders in cryptocurrency adoption, while cities like Jaipur, Indore, Bhubaneswar and Ludhiana made it to the top 15, challenging the notion of major urban centers monopolizing financial investment space.

One of the most notable trends is the maturity of Indian cryptocurrency investors, with the average age rising from 25 in 2022 to 30 in 2023, attracting experienced investors beyond the traditional young demographic. The exchange said this shift indicates that people are increasingly understanding and accepting cryptocurrencies as a legitimate investment.

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