1 August 2026
Indian Women from small cities Contribute To 65 Percent Crypto Sign ups
Despite the ongoing regulatory uncertainties in India, the investor’s sentiment toward crypto is not affected, as the latest data shows a rising influx of users.
Binance-owned Indian crypto exchange WazirX, recently issued data that shows a growth of 2,648% in user sign-ups from smaller cities across India, also known as tier-II and tier-III cities, hosting up to 100,000 citizens. WazirX reported, “Tier-II and tier-III cities have driven almost 55% of total user sign-ups on WazirX in 2021.”
The Mumbai-based exchange also highlighted a rise in the number of women investors and enthusiasts over the country. Besides all the sign-ups attributed to Indian women on WazirX, 65% of the accounts are based out of India’s tier-II and tier-III cities.
The data claims pandemic-induced lockdown as a primary catalyst, suggesting an average growth of 2,950% in tier-II cities like Lucknow, Patna, and Ahmedabad, followed by a similar 2,455% spike in tier-III cities like Mohali, Imphal, and Ranchi. Razorpay, a fiat payments gateway provider of Bengaluru, also stated that smaller cities were responsible for around 54% of traffic on its network, showcasing a growth of 92% in digital transactions.
With an immediate follow-up with female traders, the exchange asserted that investors are looking to crypto as a means to attain financial independence, higher standard of living, and a source of secondary income. However, despite the resistance from mainstream finance, the Indian crypto landscape continues to achieve new milestones. On 10 August 2021, CoinDCX, the Mumbai-based crypto exchange, acquired the first crypto unicorn status by raising $90 million in a Series C funding round.
Furthermore, IndiaTech.org, an independent body, has advised a regulatory framework for the Indian government, suggesting ways to handle crypto assets and exchanges. Sumit Gupta, the CEO of the Indian crypto exchange, CoinDCX, supported this move by stating that frameworks could potentially “open immense potential for Indians to participate in this new global asset class.”
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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