WazirX sees 2648% rise in users from tier-2&3 cities

Hyderabad: Cryptocurrency exchange WazirX said it has witnessed 2648 per cent growth in user signups from Tier-II and Tier-III cities of India. The exchange has over 7.3 million users, and has clocked over $21.8 billion in trading volume in 2021 till date.

Tier-II and Tier-III cities have contributed to around 54 per cent of digital transactions on its platform in 2020, thereby showing a 92 per cent growth in a year, WazirX said.

According to WazirX women from tier-II and tier-III regions contribute to 65 per cent of the total signups by women from all over the country.

Tier-II cities like Ahmedabad, Lucknow, Patna have reported an average growth of 2950 per cent in user signups whereas Tier-III cities like Ranchi, Imphal, Mohali have reported an average growth of 2455 per cent on it platform, the company said.

The pandemic has accelerated the digital adoption and has been the biggest driver of crypto adoption in India as it has led to people trying to find new ways to earn online and diversify their portfolio. This is where they come across global assets like Bitcoin which they can invest in while sitting in any part of the world, the firm said.

Nischal Shetty, CEO of WazirX said: "Crypto has immense potential to remove the financial barriers for rural India, and provide cheaper access to capital, more online jobs. At WazirX, our goal is to create a secure crypto ecosystem that takes the vision of Digital India forward by transforming the country into a digitally empowered society and knowledge economy."

As part of the #HumansofCrypto campaign, speaking about her experience, one of the active traders, Anncie said, "Investing through this platform has led to a transformation in many ways for me and my family and friends. I have learned how to read charts, take calculated risks and earn a decent second income. As far as my family is concerned, I come from a humble background, from South Tamil Nadu."

WazirX offers a seamless, powerful and super fast trading experience is on a mission to make crypto accessible to everyone in India.

The platform is collaborating with spectacular Indian crypto projects who are putting India on the world map. Starting from August 11, 2021, the firm has organized a week-long giveaway to thank the crypto tribe, and support home-grown projects and talent.