Cryptocurrency: Cryptocurrency craze is growing rapidly in small cities, big cities lag behind in user signup on WazirX

Cryptocurrency Exchange WazirX (WazirX) registered a growth of 2,648 percent in user sign-ups from Tier-2 and Tier-3 cities in India. Based on a report prepared by payments gateway firm RazorPay, WazirX has said that of the total user signups done on its platform so far in 2021, about 55 per cent of the signups were from tier-2 and tier-3 cities. At the same time, 2375 percent increase has been registered in user signup from Tier-1 cities.

In a statement, WazirX said that cheap and fast internet, coupled with the continuous fall in smartphone prices, has accelerated internet penetration in semi-urban areas and rural areas of India. The adoption of digital has further accelerated in these areas with the lockdown due to the pandemic. Moreover, it has also been the biggest driver of crypto adoption in India as it has led people to find new ways to earn online and diversify their portfolio.

WazirX claims to have over 7.3 million users. WazirX has recorded over $21.8 billion in trading volume so far in 2021. Tier-II cities such as Ahmedabad, Lucknow and Patna have registered an average growth of 2,950 per cent in user signups, the statement said. While tier-3 cities like Ranchi, Imphal and Mohali have registered an average growth of 2,455 per cent on WazirX. S-Presswire18

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