Updated April 17th, 2024 at 15:13 IST

Delhi-NCR leads Tier-1 cities in crypto adoption, Bengaluru, Mumbai follows: Survey

The survey identifies several contributing factors to this trend, including constantly improving digital infrastructure and widespread internet connectivity.

Reported by: Anirudh Trivedi
Representative Image | Image:Unsplash

Crypto investment trends: Tier-1 cities are at the forefront of crypto adoption, with Delhi-NCR leading the pack in terms of the total number of crypto investors, according to a survey conducted by Mudrex, a crypto investment platform. Bengaluru, Mumbai, Hyderabad, Chennai, Kolkata, Pune, Lucknow, and Ahmedabad are other leading cities that invest in cryptocurrencies.

The survey identifies several contributing factors to this trend, including constantly improving digital infrastructure, widespread internet accessibility, increasing financial literacy, investment inclination, and the pursuit of higher returns.


The survey reveals that 69 per cent of crypto investors are male, while 29 per cent are female, with 2 per cent choosing not to disclose their gender. Within the age group of 20-30, approximately 63.06 per cent have opted to invest in crypto assets, with a gradual decrease in investment participation observed in older age brackets.

Startups dominate crypto investments

According to the survey, startups emerge as the sector with the highest percentage of crypto investors, with 56.91 per cent of individuals working in startups engaging in crypto investments. Interestingly, there is minimal disparity among high-income, mid-income, and low-income investors, with even those earning less than 5 lakh per annum entering the crypto space.

The survey indicates that 58.5 per cent of investors have diversified their portfolios by investing in both equities (stocks & mutual funds) and crypto. Moreover, nearly 59.8 per cent of respondents prefer making financial decisions independently, with only 5.7 per cent relying on financial advisors. Among crypto-invested users, 70 per cent make autonomous financial decisions.


A major portion (45 per cent) of users with retirement plans have allocated funds to cryptocurrencies, reflecting a growing acceptance of crypto as a legitimate asset class. Additionally, 50 per cent of respondents foresee cryptocurrency becoming mainstream within the next 5 years.

When asked about their motivations for investing, 63 per cent of respondents cited wealth growth, with 72 per cent of crypto-invested respondents sharing the same motivator.


Published April 17th, 2024 at 15:13 IST