Hyderabad: Even when the government is looking at regulating Crypto’s currency space, Indians bet on Crypto and increase the share of Crypto’s assets in the overall portfolio of their investment, revealing reports by the largest Crypto Exchange Wazirx in the country.
CryptocurrencyLivein The latest report, ‘Highlights & observations from 2021: Crypto’s year,’ Wazirx has stated that for 44% of its respondents, Crypto consists of 10% of the overall portfolio of their investment.
“Interestingly, only 11% of respondents in the age group ’51 years and above ‘said they had allocated more than 50% of their total portfolio to Crypto while the same thing applies to 29% of respondents in the age group ’18 – 24 years,’ said The report From one million users on November 2020.
Commenting the findings, said Wazirx, Wazirx, said Wazirx that investors were evolving and recognizing Crypto as an alternative asset class that emerged.
“The government’s encouragement of the approach set for Crypto will put India on the world map Other developed countries dealing in Crypto, “he said.
Not only as an investment mode, Crypto Investors even liked the career in this developing room because 54% of respondents stated that they would be interested in pursuing a career in the Crypto room, with entrepreneurship, finance and business development into the best career of choice.
In accordance with data from LinkedIn Economic Chart Team, in India the Crypto industry, directly or indirectly, employs around 50,000 people.
According to the Nasscom report, the Crypto market in India has the potential to create more than 8 lakh jobs in 2030.
When it comes to investment, the interesting fact is that Bitcoin’s dominance has declined with higher awareness, people invest in other popular Crypto such as Ethereum, Solana and Cardano, among others.
“2021 saw a sharp decline in the dominance of Bitcoin in trading volume from 70% to 40%.
Although Bitcoin was the most traded Crypto in Wazirx in 2020 and also in 2021, its contribution to our overall trading volume has dropped,” said the report .