comscore CoinSwitch Kuber reports increase in female cryptocurrency investors
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Female cryptocurrency investors comprise 15% of userbase: CoinSwitch Kuber

CoinSwitch claims that nearly 60% of their user base is less than 28 years old

Cryptocurrency

CoinSwitch Kuber, one of the biggest crypto exchanges in the country has revealed some data about how Indians did in the field of crypto in the year 2021. The exchange has released a year-end report stating that over 14 million Indians used CoinSwitch to learn, buy, trade, or sell crypto assets. At the beginning of the year, CoinSwitch reported just over 1 million users. Also Read - WEF Davos Agenda: PM Modi calls for collective global effort on cryptocurrencies

Growth in transaction volume

The manifold increase in user base also led to growing transaction volumes. CoinSwitch has claimed that they registered a 3500% rise in transaction volumes. However, not every new user ended up transacting on the platform. The most traded cryptocurrency assets that were traded on the platform included Bitcoin, Dogecoin, Ethereum, Polygon, and Cardano. Also Read - Kim Kardashian, Floyd Mayweather, Paul Pierce along with other celebrities taken to court over crypto scam

The platform revealed that many users turned to Coinswitch to learn about the relatively new asset class. The report suggests that an average user spent 27 minutes per day on the app to buy, trade, and sell crypto assets and read articles on the platform. Comparatively, this was a sharp rise from 13 minutes at the beginning of the year. The company claims that Kuberverse, a learning platform by CoinSwitch contributed to the increased number of learning hours. Also Read - This man is earning up to Rs 60,000 a month in cryptos using just his car

Increased number of Female Investors

Additionally, the platform has reported a rise in the number of women users as well. Crypto adoption saw an encouraging growth among Indian women. As of today, 15% of our total user base comprises women. Furthermore, Delhi, Kolkata, Pune, Mumbai, Lucknow, Patna became the early crypto adopters, according to the report.

CoinSwitch claims that nearly 60% of their user base is less than 28 years old. The section that normally trades in stock market is also gaining interest in the cryptocurrency ecosystem. The report suggests that 45-year old plus stock market enthusiasts are experimenting with this high-risk, high reward asset class.

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  • Published Date: December 29, 2021 9:13 AM IST
  • Updated Date: December 29, 2021 9:14 AM IST



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