India Ranks 2nd in Crypto Adoption

21 August 2021 Current Affairs:India has ranked 2nd in terms of crypto adoption internationally behind Vietnam, but ahead of international locations such as the US, UK, and China, according to the 2021 Global Crypto Adoption Index by blockchain information platform Chainalysis. This comes even as worldwide crypto adoption grew by 880% between June 2020 and July 2021, in accordance to the report.

About the report:
♦ A document by US-based research platform Finder released this month corroborated that the pinnacle 5 countries in terms of crypto adoption had been all from Asia.
♦ The business enterprise surveyed 47,000 users internationally and 30% of those surveyed in India stated they owned cryptocurrencies.
♦ Bitcoin is the most popular coin in our country India, observed by using Ripple, Ethereum and Bitcoin Cash, according to the report.
♦ Crypto adoption in India has been led by smaller cities in the country. The biggest crypto change in the country through trading volume, WazirX, said last week that it had considered extra than 2,648% growth in consumer sign-ups from tier II and tier III cities in India.
 

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