51% of people invest in crypto because of family and friend suggestions: Wazirx

Popular Indian crypto exchange Wazirx researched its users base and also found many interesting facts about the crypto Investors in the Indian crypto community.

On 16 December, the Indian crypto exchange Wazirx published a report on its crypto user base that showed how the momentum of the mentality of the crypto investors changed in this year. 

According to the published report of Wazirx, search frequency of “how to buy cryptocurrencies” surged over “how to buy stocks” in the Google search. And this shows how much traffic is moving toward crypto adoption. 

Wazirx noted that their 10 million+ user base is perfect data for them to figure out how people shifted to this alternative asset class adoption at a huge level. 

According to survey conducted by the Wazirx on their user base, 51% of the respondents entered the crypto space after hearing about it from their family and friends. 47% of respondents entered the crypto space within the last 6 months. 

In this surge in the number of users, Wazirx asserted that there are a need for high-level crypto education and also better marketing initiatives among Indian crypto exchanges. 

In 2021, Bitcoin was at the top position in terms of trading volume, followed by USDT, SHIBA, DOGE, WazirX token, and Matic coin. 

Female vs Male 

According to the research of Wazirx, exchange found that surge in females to sign up the Wazirx is 1009% and this number is 829% for males who sign up on Wazirx in the same time frame. 

The new users sign up from the Indian rural areas surged by around 700%, which showed that almost every part of the country is entering crypto, whether they belong to developing or developed cities.

In terms of choice, the majority of the women selected Bitcoin, while Men chose the Shiba inu meme coin. 

Financial support because of crypto 

 In the respondents, 61% of users admitted that crypto helped them. And 78% of the 61% users are those, who admitted that crypto financially supported them to live a better life. 

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