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…
