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Indians show Highest Intent to buy Cryptocurrency: Survey

Cryptocurrency has been the trending buzzword for half a year now and it doesn’t seem to be going away anytime soon.

At one point in December last year exchanges had to shut down registrations as they could not handle the rapid growth.

So, it wasn’t surprising to find out that India came on top in the ‘Buying intent’ of cryptocurrency around the world.

In a survey published by Dalia, 6% users who never bought cryptocurrency answered “I don’t own any, but plan on buying some in the next 6 months”7% users said they own cryptocurrency.

63% Indians are aware of Cryptocurrency

Dalia ran a 24­ hour survey across the online population of 8 of the largest cryptocurrency markets. The survey collected more than 29,000 responses from people in the United States, the United Kingdom, Germany, Brazil, Japan, South Korea, China and India. The survey questioned respondents’ ownership, buying intention, knowledge and awareness of cryptocurrencies as a whole, without going into specific coins.

On an average every 3 out of 4 individuals are aware of cryptocurrency globally. However, in India the total is 63% only. South Korea is leading the way with 87% awareness amongst the internet users.

7% Indians own Crypto

Japan has the highest number of Cryptocurrency owners at 11% while India trails around the average at 7%. China has the lowest ownership at only 2.6%.

Factors unconsidered

The survey puts things in perspective, but only to an extent. There are some limitations in the way the survey was conducted that might not provide accurate figures for countries such as India.

Survey Limited to Internet users

The survey was conducted online, hence only accessible to people who use internet. India currently has 481 Million Internet users which is roughly 37%. China has over 50% internet users while US and Japan have over 80%.

Survey Conducted in March 2018

There haven’t been any major changes in the Crypto markets between March and today internationally, but within India, things have changed. On April 5, RBI announced the withdrawal of support for Individuals and Businesses dealing in cryptocurrency. The markets are back to the previous glory today. Many early users may have left the cryptoverse for good out of fear.

The survey has shown us the immense potential for cryptocurrency as on one hand the adoption remains in early stages but 74% of the population are aware of it.

What do you think of the survey? Let us know in the comments below

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