‘Youngistaan’ Has a Passion for Crypto, too

Crypto exchanges have recorded a spurt in students investing in cryptocurrencies as the disruptive asset class has found favor with the community as an investment option.

Data from top exchanges indicate that about 15% to 20% of all the users are students and in the users are students and in the 18-20 years’ age group. The number of students trading and investing in crypto six times at the top exchanges when compared with last year-or for that matter even a few months ago.

Data from the exchanges also indicate that about 30% of all the students’ investing in cryptocurrencies are either engineers or have a technology background.

About 20% are pursuing fashion and related courses, while 10% are studying arts, media and entertainment.

A sudden crypto buying event seems to have taken place over the last two months when the global rally in cryptocurrencies has caught everyone’s attention.

“We have seen an increase of 480.78% in students buying crypto-assets and 18.2% participation from female traders,” said Shivam Thakral, CEO, BuyUcoin, a cryptocurrency.

The exchanges said that the average age of investors has dropped while their investments have gone up. “Around 190K BuyUcoin users are from the same ago grouping with 11.7% share in crypto holdings,” said Thakral. Industry trackers say that the new age investors are not only changing the way they invest but also how they invest and in which assets they deploy capital.

The new-age investors are not just sticking to Bitcoins but re also buying and trading even other cryptocurrencies, which seems to be a hedging strategy.

“Until last year India had approximately around 5 million crypto around which went up to 15 million making India the third in the world for crypto adoption,” said Kumar Gaurav, founder and CEO, Cashaa, an online banking platform to manage fiat and cryptocurrencies. S-ET

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *