Most Indians Find Lack of Crypto Awareness, Knowledge Biggest Barriers to Entry, Says Survey

Friday 27 November 2020, 11:09 PM AEST - 1 month ago

Lack of knowledge and awareness continues to be an entry-barrier for Indians looking to venture into crypto.

Indian Crypto Exchange Conducts Survey to Gather Insights

One of the leading Indian cryptocurrency exchanges, CoinDCX recently conducted a survey trying to gauge the stance towards cryptocurrencies in the country. Unsurprisingly, the survey brought forth several critical insights that shed light on the current state of the Indian cryptocurrency ecosystem.

According to the survey, 60% of the respondents earning below $6,700 per annum find it extremely challenging to invest in cryptocurrencies owing to lack options available. On the flip side, 68% of those earning more than $13,500 per annum said legal and regulatory clarity are major concerns that hold them back from investing in digital currencies.

⭐️ Here is Mood of the Nation survey report.

This survey is an important benchmark in Indian crypto discourse and highlights valuable insights for whole crypto community.

Let's spread the crypto word to the maximum.

Retweet & share it with everyone you know #TryCrypto pic.twitter.com/O3qKhwCfUe

— CoinDCX: India's Largest Cryptocurrency Exchange (@CoinDCX) November 25, 2020

The survey, titled the Mood of the Nation 2020 survey collated responses from over 11,000 respondents, with the vast majority of them belonging to the age group of 25-35. Of the respondents, 53% were crypto investors while 47% were non-crypto investors.

According to the survey, 78% of investors in crypto have also invested in mutual funds earlier, while 22% of investors in crypto have had no prior investment experience. Close to 63% of respondents from the IT, Finance, and Education sector (except for banking) opined that cryptocurrency is a good asset class to invest in.

A report by MINT notes about the survey:

This survey is an importa ...

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