India's crypto trading volume has soared by 17 times! Men prefer memes and women love Bitcoin

India’s largest cryptocurrency exchange WazirX’s trading volume has increased by 17 times in 2021. Although the Indian authorities’ attitudes and regulatory policies on crypto are still vague, the use of cryptocurrencies is booming throughout India, whether in cities or rural areas. developing.

India's crypto trading volume has soared by 17 times! Men prefer memes and women love Bitcoin

According to foreign media reports, WazirX released a new report on the 16th, showing that the transaction volume in 2021 alone will exceed 43 billion US dollars, an increase of 1,735% over 2020.

Mumbai-based WazirX is an affiliate of Binance, the world's largest cryptocurrency exchange. In the report titled "The Highlights and Observations of the Cryptocurrency Year in 2021", many small cities include Guwahati in Northeast Assam and Karnal, the 20 cleanest northern city in India. The number of registered people in small cities such as Bareilly in Uttar Pradesh has increased by more than 700%, which proves that more and more small cities and rural areas in India are adopting cryptocurrency.

Among them, Bitcoin is still the cryptocurrency with the largest trading volume, followed by TEDA, Dogecoin, Shiba Inu, and exchange tokens WRX and Polygon's MATIC.

Indian retail investors tend to invest in relatively cheap and more volatile cryptocurrencies, such as Dogecoin and Shiba Inu, to make more profits from relatively small investments. This model is also used in Turkey, which is plagued by inflation. I can tell. Before the Indian Festival of Lights in November, retail investors doubled their investment in these cryptocurrencies.