RATE Group | Survey Reflects India’s Strong Sentiment Towards Crypto Before and After Ban
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Survey Reflects India’s Strong Sentiment Towards Crypto Before and After Ban

02 Apr Survey Reflects India’s Strong Sentiment Towards Crypto Before and After Ban

Posted at 15:39h in Cryptocurrency News by

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A survey released on April 2 and conducted by peer-to-peer Bitcoin (BTC) marketplace Paxful revealed growing positive sentiment in terms of cryptocurrency adoption in India.

Paxful’s survey of investors between the ages of 18–55 revealed that 75% of them had invested in cryptocurrencies.

Prior to the Reserve Bank of India’s crypto ban lifting, Paxful said that trade volume in the P2P marketplace in January exceeded $3 million, taking into account that 93.8% of respondents invested in cryptos before the ban.

According to the study, 78.5% of respondents prefer to use cryptocurrencies to transfer money quickly and easily, since they believe that the traditional banking system is corrupt, while 64.8% believe that it is a way to achieve financial freedom.

Growing cryptocurrency adoption in India

Speaking with Cointelegraph, Paxful’s CEO Ray Youssef said that, now that crypto business can receive banking series in the country, the cryptocurrency space will see significant growth:

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