An interesting crypto survey data finding by Coinswitch crypto exchange showed that a very big fraction of the population of a very small city was involved in crypto investment.
India is a very big hub of crypto investors. Currently, India has the highest number of crypto investors in the world, but not in terms of the amount of holding Cryptocurrencies. Currently, the crypto sector is evolving under the grey region in this country, and the financial regulatory bodies are developing & implementing better rules & laws in small steps to protect the crypto investors.
Recently, a report was published by a popular Indian crypto exchange, Coinswitch Kuber, regarding the number of crypto investors belonging to different states of India.
As per the report, India’s capital, Delhi-NCR, accounted for the first place with 20.1%, followed by Bengaluru at 9.6%, Mumbai at 6.5%, Hyderabad at 5.1%, Pune at 3.5%, Jaipur at 3.3%, Thane at 2.6%, Kolkata at 2.1% and Botad at 1.9%. Other cities accounted for a mammoth at 42.9% as per the survey report.
Crypto survey report in India: Delhi-NCR accounted for the first place with 20.1% followed by Bengaluru at 9.6%, Mumbai at 6.5%, Hyderabad at 5.1%, Pune at 3.5%, Jaipur at 3.3%, Thane at 2.6%, Kolkata at 2.1% and Botad at 1.9%. Other cities accounted for a mammoth at 42.9%
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The report highlighted details regarding Botad, a small city in the Indian state of Gujarat, noting that this city ranks at 10, accounting for 1.9% of over 20 million Bitcoin investors in this country.
Data findings showed that nearly 3,80,000 people in Botad are crypto investors, which is a very interesting fact because the total number of people was 13,00,000 in this city, as per the 2011 census. Which means nearly 30% of the population in the city is a crypto investor.
More interestingly, after Sunset, the majority of the people of this small city talk about Cryptocurrencies, whether they are on social media discussions or at local tea stalls, adjacent to the highway.
Gujarat: A Hub for the offline crypto market
Gujarat is a very big traditional centre of entrepreneurs in India. The majority of the wealthy crypto investors in India belong to this Indian state.
For the last 4-5 years, offline crypto-fiat deals have surged rapidly in Gujarat, where people buy/sell Cryptocurrencies directly for cash, directly avoiding the barrier of any rule & law.
In the report, major Gujarat cities like Ahmedabad, Surat, Rajkot and Vadodara failed to get any place in the top 10 rankings. But here, we should not ignore the offline crypto investors, who are not open to using centralized crypto trading platforms.
Read also: Bitget token ($BGB) price skyrockets following its merger with Bitget wallet
India’s Small City Botad Becomes 10th Largest Region of Bitcoin Investors
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