Despite repeated government warnings against crypto investing, a sizable majority of Indians feel optimistic about the future of cryptocurrencies. Just as many Indians, as Americans, 7%, admit they own bitcoin or an altcoin, according to a survey that covered 6 countries, including major markets. Indians are more optimistic, however – 68% believe that most people will be using cryptos in the next decade, compared to 45% of the US respondents and 47% of the Russians. Indonesians are the strongest believers with 74%, way above the average of 69%. Japan is third (66%), while the Brits are the skeptics of the bunch (44%).
Coins Preferred to Stocks for Investment
Acquiring cryptocurrencies is more attractive to Indians than investing in stocks or bonds. 16% of the participants in the study said they would buy cryptos if they had $1,000 to spend. Saving in a bank account, however, is still considered a major option – almost a quarter of those asked (24%) admitted they would entrust their cash to the traditional financial system.
The survey was conducted by Pundi X, a cryptocurrency point-of-sale solution provider, together with NEM.io Foundation and Stellar.org through Opeepl mobile “live sampling” technology. The Indonesian company has been preparing to enter the Indian market with a network of POS terminals. The stubbornness of the government in Delhi, refusing to recognize cryptos as legal tender, may have forced Pundi X to put its plans on hold, according to local media. Indian citizens and businesses have insisted for clear guidelines in regards to trading, mining and taxation.
Nevertheless, the potential of the Indian market has been recognized by Pundi X’s management. One in every 10 bitcoin transactions in the world takes Read More Here