India tops the list of crypto owners in the world at 10.07 crore

As per an annual proliferation index put together by broker discovery and comparison platform BrokerChoose, India has the highest number of cryptocurrency owners globally in terms of an individual number of holders.

India has topped the list with the United States ranked second in the list with 2.74 crore cryptocurrency owners, followed by Russia with 1.74 crore users. In terms of number of crypto owners in terms of population, India has the fifth-highest crypto ownership rate with 7.30 per cent.

According to the research, Ukraine has the highest percentage of crypto ownership at 12.73 per cent, followed by Russia at 11.91 per cent, Kenya at 8.52 per cent, and the United States at 8.31 per cent.

Over time, people in several countries have begun investing in cryptocurrencies like Bitcoin, Ether and Dogecoin, and the same is true for India. Big institutional investment has helped cryptocurrency's growth in India, according to BrokerChoose. India's crypto industry increased 641 percent, with 59 percent of activity occurring on DeFi platforms.

In comparison, the number of stock investors (Unique Client Codes) registered with the BSE in India has risen from 70 million to 80 million in four months, according to data by the exchange.

“The digital assets have caught everyone’s attention not only because it has emerged as the best asset class of 2021 but also because other asset classes are not able to fulfill the aspiration of the smart investors who want their money to grow in tandem with global growth rate," said Shivam Thakral, CEO of BuyUcoin, a cryptocurrency exchange.