Portfolio 2022

How India invests in crypto

Some years are more eventful than others. 2022 felt especially so. Post-pandemic optimism gave way to rising inflation rates, a prolonged war, and nervous markets. Capital markets, both traditional and crypto, were swept into choppy waters.

Such testing times can be challenging to any investor—one has to rethink and re-evaluate their original investment thesis, rebalance the portfolio, and spread out the risks. How did India respond? What crypto projects did they bank on? Which crypto did they hold the most? 

This report, India’s Portfolio, provides the answers.

Did you know…

… India is most active in the crypto market between 6 PM and 9 PM

… On Akshaya Tritiya, Bangalore invested the most in bitcoin, the digital gold

Capital city Delhi leads India on crypto adoption—measured in terms of value invested—followed by India’s tech hubs of Bangalore and Hyderabad.

The pink city of Jaipur has the highest crypto adoption among tier-2 and tier-3 cities, followed by Lucknow and Pune.

Investor behavior

In 2022 they were …

… building their crypto portfolio in the bear market.

… adding crypto to their portfolio to complement equities.

… adding crypto to their portfolio to complement equities.

Everyone loves classics. In crypto, bitcoin is the classic. Bitcoin was the most-held crypto asset in India in 2022.

Invest in the future near future

India set aside 40% of its crypto investments on top dollar CRE8 coins and DeFi utility tokens in 2022, and only about 6% in metaverse tokens*. A greater share of investments (~8%) was made on Ethereum alternatives (Layer1 networks that rival the blue-chip smart-contract chain) than metaverse tokens.

Men are from Mars, women are from Venus and all such maxims shall turn to dust. It’s 2022 after all! India’s men and women followed similar investing patterns in the year, spreading out their exposure across CRE8, DeFi, and Meme coins, with single-digit exposure to metaverse coins and Ethereum alternatives.

Over 740 districts make up India. Their investment goals and coin preferences, therefore, are not the same. Here’s how the top 10 cities with the highest crypto adoption allocated their digital assets portfolio.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.