Wazirx, a major cryptocurrency exchange in India, reported that this year “user registrations have increased significantly” and 82% of its users have made profits from cryptocurrency investments. Its transaction volume also increased by 1,735% over the previous year. At the same time, the Indian government is actively working on crypto regulation in the country.

USD 43 billion in transaction volume, 82% of users are profitable

Indian cryptocurrency exchange Wazirx announces “2021 Crypto Year” Report Thursday. “Wazirx has witnessed a substantial increase in user registrations, resulting in our users exceeding 10 million,” the report detailed, adding that the exchange’s trading volume exceeded $43 billion, an increase of 1735% from the previous year.

The report states:

As of November 30, 2021, 82% of Wazirx users have profited from their crypto investment, that is, their crypto investment portfolio has grown.

The exchange explained that Bitcoin (Bitcoin) Is still the most traded cryptocurrency on its platform. The other cryptocurrency with a large transaction volume is Tether (USDT), Shiba Inu (SHIB), Dogecoin (DOGE), wazirx token (WRX) and matic (MATIC).

The exchange wrote: “In order to make cryptocurrency available to everyone in India, Wazirx added more than 200 market pairs in 2021.”

The report includes a communication survey of its users. Overall, 44% of respondents said that cryptocurrencies accounted for as much as 10% of their investment portfolios. Wazirx detailed description:

We have witnessed an increase in the number of registrations from small cities such as Guwahati, Carnal, Bareilly, etc., by more than 700%. It shows the increasing adoption of cryptocurrencies in semi-urban and rural areas in India.

In addition, 61% of respondents said that encryption is helpful to them, while 78% of respondents made it clear that it helped them financially. The exchange also found that the number of female registrations increased by 1,009%, and the number of male registrations increased by 829%.

At the same time, the Indian government is actively working on cryptocurrency legislation. A cryptocurrency bill has been included in the deliberation list of Lok Sabha, the lower house of the Indian Parliament.However, it is reported that the government is revising the bill and will Roughly introduce But at the budget meeting.

Prime Minister Narendra Modi (Narendra Modi) also participated in India’s cryptocurrency legislation.According to reports, he is taking Last call Regarding how India will regulate cryptocurrency.Although the government has not disclosed its plan, there are reports that India is planning Regulate crypto assets.

Tags in this story

Encryption supervision, Cryptocurrency legislation, India, Indian cryptocurrency, Indian, Indian cryptocurrency exchange, Indian crypto market, Indian crypto regulation, Indian crypto trading volume, India Exchange, Wazirx

What do you think of the findings reported by the cryptocurrency exchange Wazirx? Please let us know in the comments section below.

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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