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Crypto Owners New List Revealed an Amazing Data About India
In India, the Supreme Court removed the prohibition on cryptocurrencies in March 2020, indicating that it is no longer unlawful to purchase or use them.
Lucknow, Even though the legislation on cryptocurrencies in India is not clear, there is no shortage of purchasers. Indians are among the most active investors in cryptocurrencies such as Bitcoin and Ethereum, seeking to reap the rewards of their investments. The number of bitcoin owners in India is greater than in any other country across the globe, according to recent data. Several cryptocurrency websites, like BrokerChoose, report that India has the largest number of cryptocurrency owners in terms of individual holders.
Broker Discovery and Comparison Platform BrokerChoose's Annual Proliferation Index has shown which nations have the greatest amount of individual bitcoin owners, according to the company. The top of the list is occupied by India, which is followed by the United States and Russia in that order. In addition, each of these nations has a significant number of bitcoin purchasers. By total population, India has the fifth-highest rate of crypto ownership, behind only the United States and China.
Percentage of crypto owners
Ukraine is the country with the highest proportion of public cryptocurrency owners as compared to the entire population, with 12.73 percent of the country's population owning cryptocurrency. There is 11.91 percent in Russia, 8.52 percent in Kenya, 8.31 percent in the United States, and about 7.3 percent in India, following that. In India, there are 10.07 million bitcoin owners, compared to 2.74 million in the United States and 1.74 million in Russia, according to the World Bank.
The US tops in the search ranking
Also included in the study is a breakdown of which countries had the greatest amount of bitcoin searches performed. The United States ranked first on the list of countries where internet users are most interested in learning about cryptocurrency. The greatest number of searches were conducted in India, the United Kingdom, and Canada, and they were followed by the United States. More and more people in India are becoming interested in cryptocurrency and want to purchase it.
Crypto investors are rising in India
A recent report by Chainalysis revealed that India was ranked second out of 154 nations in the Global Crypto Adoption Index, with a total of 154 countries participating. According to the findings of the research, the number of cryptocurrency investors in India has risen. With India accounting for 42 percent of all bitcoin transactions, the cryptocurrency sector has seen a 64.1 percent increase in growth. However, the regulatory framework for cryptocurrencies in India, as well as the legislation governing it, are still in the works.
Supreme Court Decision is the Game Changer
In India, the Supreme Court removed the prohibition on cryptocurrencies in March 2020, indicating that it is no longer unlawful to purchase or use them. Because there are no intermediaries involved, cryptocurrency-assisted payments are both safer and less expensive to complete than traditional payments. The aspect of the confidentiality of cryptocurrency transactions is their anonymity. At the same time, its fast-increasing value has the potential to increase the return on any investment made in it.
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