82% Indians Want to Own Crypto, US Cryptocurrency Owners to Increase by 60% — Is Mass Crypto Adoption Finally Underway?
Blockchain technology has been around for 13 years, and it has managed to become a multi-trillion dollar industry. But even though everyone must have heard about Bitcoin and crypto by now, the number of people who actually own and use digital currencies is still relatively small. However, new studies show that the general public might be finally ready for mass crypto adoption.
India is one of the countries which has been always listed as one of the places where crypto is most popular, and the number of people owning cryptocurrency is the highest. It seems like this trend is likely to become even more prominent in the future, despite the fact that the Indian government is not always enthusiastic about digital currencies and blockchain technology.
The renowned financial advisory and consulting firm Deloitte together with the Times of India has conducted a survey in order to assess the current sentiment towards crypto among the general public in India. Over 1,800 people have participated in the survey, and the results show that India might be on its way to become the first major country where cryptocurrencies are massively adopted.
According to the survey, over 55% of the respondents have already invested in crypto. Almost 27% have not purchased any cryptocurrencies yet, but want to start investing in crypto as soon as regulatory policies toward digital currencies become more clear. Only 7% of people declared that they will never invest in crypto.
What’s the reason for the fact that crypto is finally becoming mainstream, and is it also happening in other countries?
Deloitte’s study shows that one of the reasons why crypto is ready to be embraced by the general public is that governments around the world are ready to provide clear regulatory guidelines concerning digital assets. According to the survey, over 77% of the respondents would like cryptocurrencies to have the same legal status as securities, including increased investor’s protection.
But India is not the only country where the number of cryptocurrency owners is expected to grow massively in the future. A study conducted by the esteemed, US-based business information company Arizent shows that the number of Americans owning crypto might grow by as much as 60% in the upcoming years.
Arizent has surveyed hundreds of professional wealth management experts. Over 60% of the financial advisors who took part in the study agreed that the number of crypto owners in the US will increase, with almost 50% of them believing that over 30% American investors will own some crypto in their portfolios by the end of 2022.
Now that crypto is finally gaining mainstream adoption, it’s especially important to educate the public about blockchain technology. That’s why Grand Time was designed specifically with crypto beginners in mind, and intends to help newcomers to the blockchain community learn about cryptocurrencies in a fun and interesting way with the help of technologies such as NFTs and the metaverse!
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