Half of crypto investors millennials; women users rising rapidly: ZebPay

New Delhi: The year 2021 belonged to cryptocurrency. The new age technology became a household name while the growth of domestic exchanges highlighted the latest fad.

Leading crypto platform Zebpay registered a growth of more than 300 per cent in trading volume, while its user base increased by about 130 per cent to cross the 5 million mark.

According to the data, more than half or 55 per cent of its users are millennials while Generation Z constitutes 15 per cent of their user base.

The data further show that men dominated the user base, with women comprising a little more than 10 per cent of the total users. Although, women registrations are rising rapidly on the exchange.

The platform believes crypto assets and blockchain have a long way to go and one should gain education before investing in the market. Further, they should hold cryptos with a long term view, they add.

"We have seen a significant growth in investors interested in crypto this year and the trend isn't slowing down. With the global adoption of crypto, blockchain products and services like NFTs are going mainstream," said Avinash Shekhar, CEO, ZebPay.

"Despite the skepticism, governments globally are now accepting crypto assets. All these changes are just the beginning and we still believe that it is a very nascent market," he added.

Among the tokens, behemoths like Bitcoin and Ethereum were the most traded on the platform, followed by altcoins like India's Polygon (MATIC), memecoin Shiba Inu and Basic Attention Token (BAT).

In terms of geographic allocation, the platform witnessed the most activities from states like Gujarat, Maharashtra, Uttar Pradesh, West Bengal and Delhi.

Meanwhile, ZebPay has tripled its headcount in the past one year and is planning to hire more engineers to continue building industry-first products.

The crypto market is still young and at an early stage of its global evolution. There are multiple reasons that attract investors to the new age investment theme. The new trend in the market is NFTs and there are many new investors buying and selling NFTs, said Shekhar.

"We suggest investors to learn about the underlying technology and utility of the projects you're investing in and hold them for a longer period to avoid volatility. We recommend that investors first learn about the underlying technology and utility of the projects they intend to invest in and hold for a longer period to avoid potential volatility," he added, with a suggestion to investors to keep off FOMO (Fear Of Missing Out).