Survey: Sentiment improves in India after lifting the crypto ban

A new poll shows that sentiment towards cryptocurrencies is getting more positive in India after the crypto ban has been lifted.

A new survey by the Bitcoin trading platform Paxful shows that sentiment towards cryptocurrencies is improving in the Indian market.In the survey, released on April 2, 75% of Indian investors between 18 and 55 say they have already invested in cryptocurrencies.Before the Indian central bank had to lift its crypto ban recently, the trading volume for direct trading in cryptocurrencies (P2P) was already more than $ 3 million. 93.8% of respondents had already invested in cryptocurrencies before the ban was lifted.According to the study, 78.5% of participants prefer cryptocurrencies to normal cash transfers because they believe crypto transactions are faster and easier. 64.8% see cryptocurrencies as an opportunity to be financially independent.

 

Adoption is progressing

Paxful managing director Ray Youssef told Cointelegraph that crypto companies in India are now allowed to operate completely legally, which could bring a significant growth spurt to the domestic industry:

“Either way, the industry will pick up speed. Even when the crypto ban was still in effect, the Indian crypto community was already active. It is good that they are now calling for legislation, because after the ban was lifted, the investment volume has already multiplied by several million dollars. ”