With the market capitalization of crypto reaching over $2.5 trillion and Bitcoin hitting a record high of $74,000, the crypto space is becoming a popular investment avenue daily. Indians are now devising new ways to manage their money by mixing traditional assets like stocks, bonds, mutual funds, and more with crypto.
This change is a big deal for people planning their finances and shaping the country’s sense of money. To learn more about crypto investment behaviors among Indians, Mudrex surveyed 8976 adults between June and January 2024
The participants comprised individuals across India, ranging in age from 20 to 60, across diverse income brackets. The survey was conducted to gain insights into investment behaviors across asset classes, specifically focusing on cryptocurrency.
This blog will examine the insights gathered from the Mudrex Survey 2024.
Where Crypto Thrives: Regional Hotspots in India
Crypto Investment Hotspots
Interestingly, Delhi NCR leads in crypto investors due to strong digital infrastructure, internet access, financial know-how, and a desire for better returns. Tier 1 cities like Bengaluru, Mumbai, Hyderabad, Chennai, Kolkata, Pune, Lucknow, and Ahmedabad followed the trend.
Cryptocurrency Investment: A Breakdown by Gender
Crypto Investors Gender Dynamics
When looking at the gender dynamics of people who have invested in crypto, 69% of investors are male, 29% are female, and 2% prefer not to reveal their gender. There could be different reasons that may be contributing to this diversity, like
- wanting financial independence,
- being comfortable with financial risks and
- various levels of knowledge about digitization among respondents.
Age and Cryptocurrency: Generational Trends in Investment
Crypto Investors Age Group
Another fascinating observation the survey made was that younger Indians are more into crypto than those over 40. Around 63% of people aged 20-35 invest in crypto, showing a gap in how they perceive, adapt, and accept crypto as an investment between generations.
Startup Employees and Crypto
Out of the crypto investors who responded to the survey, 56.91% of the investors are startup employees. This trend is likely because startups are more digitized, and their employees are more open to trying out new tech and innovative investment options.
Crypto Investors and Profession.
Cryptocurrency Adoption Across Income Brackets
Chart comparing Cryptocurrency adoption across income brackets.
The Mudrex Crypto Survey’s most interesting insight was into the accessibility of crypto among people of various income levels. Surprisingly, even those earning less than rupees 5 lakh are getting into it.
This shows that more and more people, regardless of their income, are interested in crypto with an expectation of making good profits.
Starting with their portfolio distribution between traditional investment avenues and crypto.
Crypto Vs Equities
Most investors, around 58.5%, are cautious about balancing their portfolios by investing in stocks, mutual funds, and crypto. This shows people’s awareness of crypto as another type of investment and understanding of the importance of spreading their money to diversify risk.
Crypto’s Role in Financial Empowerment
Mudrex Survey 2024 reveals a surge in financial self-reliance, especially in crypto.
The survey also shows a growing trend of Indian investors taking control of their finances. Nearly 60% make investment decisions independently, even more true for crypto investors, where 7 out of 10 manage their crypto investments themselves. This suggests that people are becoming more informed and confident about investing in crypto and in other assets.
However, the survey also highlights a lack of financial advisors who specialize in crypto, which might be because crypto is a relatively new asset class. Interestingly, crypto is increasingly considered a viable option for long-term financial goals.
Almost half of the respondents who are planning for retirement include crypto in their plans. This aligns with the broader belief that crypto is here to stay, with half of the respondents expecting it to become a widely accepted investment option within the next five years.
Conclusion
As the insights from Mudrex Crypto reveal, India is clearly embracing the crypto revolution, and you can be a part of it! It’s in your city, among your peers, and accessible regardless of your income level. This trend hints at a future where crypto becomes a significant part of your investment toolkit.
Curious to explore the possibilities and leverage the potential of this evolving financial ecosystem highlighting crypto?
For a deeper dive into the data, download the full Mudrex Crypto Investment Survey Report
