According to a recent Statista report, India’s crypto community could surge to more than 156 million members by the end of the year. 

Most people expected to jump on the bandwagon are educated younger individuals with middle-income status who seek alternatives to the shaking banking system.

Indians Could Flock to Crypto in the Near Future

The survey estimated that over 11% of India’s population will have dived into the cryptocurrency sector by the end of 2023. The country’s crypto adoption rate is expected to surpass that of the United States, the United Kingdom, Japan, and Russia.

Statista determined that most Indians who deal with digital assets are well-educated and aged between 18-40. Previous studies show that youngsters are most likely to interact with the industry in other countries, too. 

India’s cryptocurrency market could offer profits worth approximately $3.3 billion this year, while revenues could explode to nearly $6 billion by 2027.

The residents of the capital Delhi are most inclined to buy and hold digital currencies for the long term. Bengaluru – the largest city in the state of Karnataka – also has a substantial number of HODLers. 

The uncertainty in the traditional finance system and the search for higher profits are the main factors pushing Indians toward the digital asset field. 

Last year’s KuCoin survey indicated that the total number of domestic crypto inv