A new survey by KuCoin, a cryptocurrency exchange has forecasted that India’s Crypto market will experience tremendous growth, despite restrictions by authorities.
The report predicts that the Indian crypto market will reach $241 million by 2030, despite a 30 percent tax on income received from digital assets.
In the report which was titled ‘Into the Cryptoverse, India’, KuCoin states that no fewer than 15 percent of India’s population, amounting to about 115 million people have either traded crypto in the past six months or held it.
Also observed in the report was that over 10 percent of Indian adults are crypto-curious consumers planning to invest in crypto in the coming six months.
The report also observed that about 41 percent of respondents interviewed had claimed not to have adequate knowledge about cryptocurrency.
Other issues identified by the report include a concern by investors on the stance of authorities regarding digital assets, safety of cryptocurrency as well as issues around crypto scams.
