Survey Reveals 45% of Indian Users with Retirement Plans Are Investing in Crypto

A recent survey conducted by Mudrex has unveiled that nearly half of individuals with retirement plans in India have entered the realm of crypto.,The Mudrex survey, which focused on crypto investments, found that 45% of users with retirement plans have allocated funds to cryptocurrencies, according to a 
report from The Economic Times
,The revelation showcases a growing inclination to incorporate digital assets into long-term financial goals, such as retirement investment strategies.,


The survey also 
sheds light on
 the evolving 
perception of cryptocurrencies as a mainstream asset class.
 ,50% of respondents believe 
that cryptocurrencies
 will become the primary asset class within the next five years, indicating a rise in confidence and acceptance within the crypto space.,Delving deeper into the survey findings, it is noteworthy that 
a significant majority of
 respondents—approximately 59%—prefer making financial decisions independently. ,The trend reflects a desire for self-reliance and empowerment in financial matters. ,However, the role of social networks should not
be overlooked
, as 19% of respondents seek assistance from family and friends, while 14% rely on their partner’s input. ,Meanwhile, only 5% of respondents turn to financial advisors for guidance, revealing a gap in advisory services, particularly within the crypto sphere.,Additionally, the survey highlights that 70% of users who have invested in cryptocurrencies make their financial decisions independently. ,This
 underscores the growing financial literacy and confidence among crypto investors. ,However, it also underscores the need for enhanced advisory services tailored to the unique characteristics of the crypto market, which significantly differ from traditional asset markets.,Motivation plays a crucial role in driving investment decisions, and the survey provides valuable insights into investors’ mindsets. ,Among the respondents, 63% identified wealth growth as their primary 
motivation for investing
. Notably, a higher percentage of crypto-invested respondents—72%—shared this sentiment, underscoring the perceived wealth-building opportunities presented by cryptocurrencies.,The Mudrex survey encompassed a diverse range of adults across India, 
spanning ages from
 20 to 60 and representing various income brackets. ,


As reported, the recent surge in the price of Bitcoin has 
injected fresh life into Indian cryptocurrency exchanges
, as trading volumes on the top platforms reached a ten-month high in February. ,CoinDCX, WazirX, and BitBNS, the leading Indian exchanges, recorded trading volumes of $2.6 million, $3.4 million, and $7.8 million last month, respectively.,These figures represent their highest monthly volumes since June 2023, although they still fall short of the historic peak witnessed in 2021.,The uptick in trading volumes on Indian exchanges comes as these platforms have grappled with low trading volumes since the bear market of 2022-23, compounded further by the Indian government’s imposition of a 30 percent tax on cryptocurrency trading.,Last month, India’s National Informatics Centre (NIC), a government agency operating under the Ministry of Electronics and IT (MeitY), said it has 
hosted almost eight million government-issued
 verifiable documents on five blockchains. ,50% Believe Crypto Will Become 
Primary
 Asset Class

https://coinniu.com/survey-reveals-45-of-indian-users-with-retirement-plans-are-investing-in-crypto/

coinniucoinniu
Previous April 30, 2024
Next April 30, 2024

Recommend