Wazirx reported a massive surge in user signups this year, with 82% of its users making profits
According to the “2021 Year of Crypto” report of a significant cryptocurrency exchange in India, Wazirx, major Indian crypto exchange Wazirx has reported a spike in registered users this year. Of these, 82% of users earn profits from their crypto investments. Its trading volume also increased by 1,735 percent year on year. Meanwhile, the Indian government is actively working on the country’s cryptocurrency regulation.
Indian crypto exchange: 82% of users earn profits this year, trading volume soars 1,735%
“Wazirx witnessed a massive surge in user signups leading to us crossing 10 million users,” the report stated, adding that the exchange clocked a trading volume of over $43 billion, a 1,735% increase over the previous year.
“As of 30th November 2021, 82% of Wazirx users have made profits on their crypto investments, i.e., seen a growth in their crypto portfolio”, the report noted.
BTC remains the most traded cryptocurrency on its platform. Other heavily traded cryptocurrencies are Tether (USDT), Shiba Inu (SHIB), Dogecoin (DOGE), Wazirx (WRX) and Matic (MATIC).
“In our efforts to make crypto accessible to everyone in India, Wazirx has added 200+ market pairs in 2021,” the exchange stated.
The report includes a survey that the exchange conducts of its users. Overall, 44% of respondents said that cryptocurrencies make up 10% of their portfolio.
“We witnessed over 700% growth in signups from smaller cities like Guwahati, Karnal, Bareilly among others. It shows growing crypto adoption in the semi-urban and rural India”, Wazirx detailed.
Additionally, 61% of respondents said that cryptocurrency helped them while 78% specifically said that it helped them financially. The exchange also saw a 1.009% increase in the number of female signups and an 829% increase in the number of male signups.
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