It also found that about 10% of Indian adults are curious about crypto and planning to invest in it in the next six months.
The survey said 56% of investors believe crypto to be the future of finance, and 52% invest in crypto to earn passive income and improve their standard of living.
The optimism on crypto investment comes despite central bank’s pessimism. Earlier this week, RBI governor Shaktikanta Das warned against investing in cryptocurrency. Noting that the RBI has cautioned investors on several occasions about the risks of investing in crypto, Das said, “I’m happy that we sounded those warning signals and I would like to believe that a large number of people would have taken a note of the warning signals and the concerns expressed by the Reserve Bank.”
On the difficulties of investing in crypto, 41% of respondents cited a lack of sufficient knowledge about the crypto market, while 37% said they find it hard to manage risk.
Ambiguity in government regulations has been a critical factor deterring potential investors, the survey found. Around 33% of respondents said that government regulation is a concern when considering investing in crypto.
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The safety of investing in crypto is also a concern for many, with 26% of respondents saying they are worried about hackers stealing their coins.
