According to a recent survey conducted by Mudrex, half of Indians have included cryptocurrencies in their retirement plans. The survey targeted individuals between the ages of 20 and 60 across various income brackets, revealing that 45% of those with a retirement plan have invested in cryptocurrencies.

Interestingly, 50% of the participants believe that cryptocurrencies will become a mainstream investment vehicle within the next five years. It was noted that the majority of these participants (59%) prefer making independent decisions, with only 5% seeking advice from investment managers.

The survey also found that 70% of respondents with investments in crypto make their financial decisions independently. The primary motivation behind cryptocurrency investing, according to the survey, is wealth appreciation, with 72% of crypto-invested users expressing this sentiment.

A previous survey by WazirX in 2023 also highlighted Indians’ interest in cryptocurrencies for long-term returns. Despite the lack of a solid regulatory framework and a heavy 30% tax on cryptocurrency gains, the interest in cryptocurrencies in India remains strong.

Mudrex conducted the survey between June 2023 and January 2024, coinciding with a period of increased crypto trading volumes in the nation. Mudrex CEO Edu Patel reported significant growth in crypto trading volumes, with a 192% increase from December to January, followed by a 270% surge from January to February, and a threefold increase in March.

Similar growth was observed by crypto exchanges CoinDCX and WazirX in the first quarter of 2024. The data indicates a growing interest and participation in the cryptocurrency market in India.

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