Apart from user sign-ups, WazirX also revealed interesting figures on signups by Indian women indicating that the lack of regulations in India has not dented investor interest in crypto. WazirX, an India-based cryptocurrency exchange that allows users to buy, sell, and trade cryptocurrencies like Bitcoin, Ether, Litecoin, etc., registered an increase of 2648% in user sign-ups from tier-II and tier-III cities like Ahmedabad, Lucknow, Ranchi, Imphal, and Mohali, among others, according to a statement released by the company. Cryptocurrency investments in India have grown significantly since the Supreme Court of India overturned an RBI ban restricting banks from providing services to crypto-based businesses. Many crypto exchanges have rolled out marketing campaigns on popular platforms like the Indian Premier League signalling their intention to drive mass adoption of investment in crypto, as per a report by IMPACT magazine. Given the complicated nature of the investment, one would expect tier-I cities to be at the forefront of this adoption. However, the data from WazirX suggests that crypto exchanges are being accepted by users in other parts of the country as well. Data revealed by WazirX The Binance-owned crypto exchange stated that people were looking for new ways to earn online and diversify their portfolios. Fifty-five percent of sign-ups on WazirX stem from tier-II and tier-III cities in 2021 Tier-II cities like Ahmedabad, Lucknow, and Patna reported average growth of 2950% Tier-III cities like Ranchi, Imphal, and Mohali reported average growth of 2455% Tier-I cities in comparison saw a signup growth of 2375% Sixty-five percent of…
- Final Call: Exploring User Verification, 23rd Mar, 2023, Delhi #Ad March 22, 2023
- MediaNama Daily: We are not so certain about the CERT-In rules March 22, 2023
- How many crypto exchanges registered with India’s FIU following government notification? March 21, 2023
- Why is Twitter’s move to withhold accounts amid internet shutdown in Punjab problematic? March 21, 2023
- RTI: No details on how many entities have complied with CERT-In’s cybersecurity directions March 21, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...