India And US Rank Same in Crypto Usage According to Gemini’s Global State of Crypto Report

Indians and Americans have been ranked the identical, on the tenth place, for proudly owning cryptocurrency, revealed a brand new survey that was performed on virtually 30,000 people from 20 completely different nations.

According to the survey report, enterprise capital funding in crypto and blockchain companies has surpassed $30 billion, with greater than $10.5 billion invested within the final quarter of 2021. The market worth of cryptocurrencies has almost reached $3 trillion, with bitcoin reaching an all-time excessive of over $65,000, making crypto the best-performing asset class within the final 10 years.

The report is predicated on the surveys performed on 29,293 adults from 20 nations, together with the US, Brazil, Mexico, Denmark, France, Germany, UK, UAE, Kenya, South Africa, Australia, Hong Kong, Indonesia, Singapore and India, between November 23, 2021 and February 4, 2022. The surveys had been performed by crypto change firm Gemini, and reported as Global State of Crypto for 2022, based mostly on the info collected by the Data-Driven Consulting Group.

“Our survey explored awareness of cryptocurrencies and exchanges, motivations for owning and trading cryptocurrency, general attitudes toward cryptocurrency, and barriers to owning cryptocurrency,” the report famous.

Proponents of cryptocurrency have lengthy contended that the blockchain know-how would profit nations with weak monetary establishments probably the most. While adoption has been modest outdoors of the industrialised world, contemporary knowledge from Gemini suggests which may be altering.

The report famous that 41% of crypto homeowners, polled world wide, bought cryptocurrency for the primary time in 2021.

It additional mentioned greater than half of cryptocurrency homeowners in Brazil (51%) Hong Kong (51%), and India (54%) began out in 2021.

Globally, 41% of mentioned they’re involved in cryptography. Consumers who’re crypto-curious are those that don’t presently possess cryptocurrencies however are involved in studying extra or imagine they’re possible to purchase cryptocurrency within the coming yr.

It was additionally discovered that 47% of ladies plan to purchase crypto for the primary time within the coming yr.

“In developed countries and regions, only a third of current crypto owners are women, including in the US (32%), Europe (33%), and Australia (27%),” it added.

The report highlighted that fifty% or higher depreciation of their foreign money towards the USD within the final 10 years had been instances extra prone to say they plan to purchase within the coming yr than these in nations, which have seen lower than a 50% depreciation.

This consists of South Africa (32%), Mexico (32%), India (40%), and Brazil (45%).

In the case of India, when folks had been requested when did they first acquired cryptocurrency, 46% mentioned greater than a yr in the past whereas 54% mentioned it was “within the past year”.

In the report, the graph for the share of crypto-curious and gender breakdown confirmed that in India 47% are males and 53% are ladies.

In the case of cryptocurrency possession by a rustic, India and the US each stand in tenth place with 20% every, whereas Brazil and Indonesia each showcase 41% every, which is the very best amongst all.

In phrases of the share of cryptocurrency buyers based mostly on gender, in India, it’s 62% for males and 38% for girls.

Additionally, it was discovered that ladies are investing in cryptocurrency in higher numbers within the Asia Pacific, with ladies accounting for two out of each 5 cryptocurrency homeowners in Singapore (40%) and India (38%).

The report additionally famous: “Nearly two in three crypto investors in India (64%) and Indonesia (64%) believe that cryptocurrencies are a hedge against inflation. Even with its stable fiat currency, more than two in five crypto investors in Singapore (42%) turn to crypto for its inflation-hedging properties.”

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