India to Have Over 150 Million Crypto Users by the End of 2023

India’s crypto adoption rate could surpass that of the US and the UK by the year’s end. According to a recent Statista report, India’s crypto community could surge to more than 156 million members by the end of the year. Most people expected to jump on the bandwagon are educated younger individuals with middle-income status who seek alternatives to the shaking banking system. The survey estimated that over 11% of India’s population will have dived into the cryptocurrency sector by the end of 2023. The country’s crypto adoption rate is expected to surpass that of the United States, the United Kingdom, Japan, and Russia. Statista determined that most Indians who deal with digital assets are well-educated and aged between 18-40. Previous studies show that youngsters are most likely to interact with the industry in other countries, too. India’s cryptocurrency market could offer profits worth approximately $3.3 billion this year, while revenues could explode to nearly $6 billion by 2027.