Retail investors splurge on trading in cryptocurrency

Retail investors aged 25-40 years are spending millions on trading in cryptocurrency in India every day, according to two of the top exchanges in the country.

The country’s largest crypto exchange, WazirX, said it has seen a 125% increase in user signups in the past six months, while rival CoinDCX said there’s been an 85% growth in traders in its exchange in the last quarter.

According to Sumit Gupta, co-founder and chief executive officer, CoinDCX, the platform sees $20-25 million worth of trading every day, about 75% of which comes from Indian investors. On the other hand, WazirX sees $19-26 million daily trading volumes, with 89% of the transactions coming from India.