CoinSwitch Kuber, one of the largest crypto exchanges in the country, has revealed some data on how Indians did in the field of crypto in the year 2021. The exchange has released a year-end report stating that more than 14 million Indians have used CoinSwitch to learn, buy, trade or sell crypto assets. At the beginning of the year, CoinSwitch reported just over 1 million users.
increase in transaction volume
The manifold growth in the user base led to an increase in the transaction volume as well. CoinSwitch claims that they have registered a 3500% increase in transaction volume. However, not every new user transacted on the platform. The most traded crypto assets traded on the platform include Bitcoin, Dogecoin, Ethereum, Polygon, and Cardano.
The platform revealed that many users turned to CoinSwitch to learn about the relatively new asset class. The report states that an average user spends 27 minutes a day on the app to buy, trade and sell crypto assets and read articles on the platform. By comparison, this was a sharp increase from 13 minutes at the start of the year. The company claims that CoinSwitch’s learning platform Kuberverse has contributed to the increase in the number of learning hours.
Increased number of women investors
Additionally, the platform has also reported an increase in the number of female users. Indian women have seen an encouraging growth in crypto adoption. As of today, women constitute 15% of our total user base. Also, as per the report, Delhi, Kolkata, Pune, Mumbai, Lucknow, Patna became the early crypto adopters.
CoinSwitch claims that almost 60% of their user base is less than 28 years old. The commonly traded class in the stock market is also gaining interest in the cryptocurrency ecosystem. The report suggests that stock market enthusiasts over the age of 45 are experimenting with this high-risk, high-reward asset class.
Post Female cryptocurrency investors comprise 15% of user base: CoinSwitch Kuber first appeared on BGR India.