The year 2021 was nothing less than phenomenal for the crypto industry in India and the world. The pandemic had the crypto world thrown into the limelight, and with a global market now realizing the potential and possibilities of blockchain technology beyond their initial skepticism. Almost every day, new projects would surface, solving another real-world use case via cryptos, NFTs, DeFi, etc. And the hype around Web3 and metaverse had taken the online communities by storm.
India was at the forefront of the crypto buzz, with millions vying for their favourite cryptos. India became the second-leading nation in terms of crypto adoption, and given the current purview that seems to be starstruck at the multi-billion opportunity knocking the doors, 2022 might arguably see India leading the world in deriving utilities from the decentralised disruption, provided the government takes a progressive regulatory stance. Here’s my quick run-down of the top crypto trends that should rule 2022.
Enhanced crypto penetration in the rural and semi-urban areas
2021 had not just the Tier-I cities relying on cryptos to hedge their fiat portfolios. Tier-II and Tier-III steadily took the lead in crypto adoption, especially post-pandemic. Around 47% of Indian crypto users entered the crypto space within the last 6 months of 2021, while crypto emerged as a new way to earn online.
Thanks to the increased internet penetration and smartphone access, crypto adoption in the unbanked hinterland boomed in 2021, with over 700% growth in user signups from small cities, like Guwahati, Karnal, Bareilly, spearheading crypto adoption beyond the urban centers. Cryptocurrencies being digital assets, require the basic infrastructure to flourish. As more people get connected to the internet and better understand cryptos, 2022 will continue seeing the rural crypto adoption trend in India.
Besides, the current crypto demographics suggest that more women will be leading the pack in 2022. Age-wise, people…
