Interest in cryptocurrency has spiked substantially amongst Indians despite a barrage of government restrictions.
Statistics from Chainanalysis, a blockchain analytics platform, reveal the value of investments made in the industry over the past year to be around $40 billion. A massive increase from the $200 million invested the preceding year.
The report featured the opinion of Indian Entrepreneur, Rishi Sood, who says he’d rather invest in cryptocurrency than gold.
“I’d rather put my money in crypto than gold,” Rishi Sood said, “Crypto is more transparent than gold or property and returns are more in a short period of time.”
The number of Indian crypto traders hovers above 15 million, some 8 million less than the traders in the USA, and a staggering 12.7 million above those in the United Kingdom.
It clearly says a lot about the level of interest in cryptocurrency by the Indian populace, despite their perceived love for gold.