According to the “Crypto Year 2021” report by an important crypto exchange in India, Wazirx, the major Indian crypto exchange Wazirx reported a spike in registered users for the year. now. Of these, 82% of users earn profits from their crypto investments. Its trading volume also increased by 1,735 percent year-on-year. Meanwhile, the Indian government is actively working on the country’s cryptocurrency regulation.
Indian crypto exchange: 82% of users make a profit this year, trading volume soars 1.735%
“Wazirx has seen a massive increase in registered users, which has resulted in us surpassing 10 million users,” the report states, adding that the exchange hit trading volume. more than $43 billion, an increase of 1.735% year-on-year.
“As of November 30, 2021, 82% of Wazirx users have profited from their crypto investments, i.e. have seen growth in their crypto portfolio. them,” the report noted.
BTC remains the most traded cryptocurrency on its platform. Other heavily traded cryptocurrencies are Tether (USDT), Shiba Inu (SHIB), Dogecoin (DOGE), Wazirx (WRX) and Matic (MATIC).
“In our effort to make crypto accessible to all in India, Wazirx has added over 200 market pairs by 2021,” the exchange said.
The report includes a survey that the exchange conducts of its users. Overall, 44% of respondents said that cryptocurrencies make up 10% of their portfolio.
“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,” detailed Wazirx.
Additionally, 61% of respondents said that cryptocurrency helped them while 78% specifically said that it helped them financially. The exchange also saw a 1.009% increase in female registrations and an 829% increase in male registrations.
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