On October 26th, Nischal Shetty, the founder of WazirX, India’s largest cryptocurrency exchange, said on Twitter: “India does not have 100 million crypto users. Someone has published an incorrect random number, and other media have reposted it from hearsay if it is not truthful.” “People may overestimate the growth of the industry because of this number, and therefore invest in cryptocurrency. When you hear such a large number, it will also produce unnecessary FOMO (fear of missing out).”
Shetty said that according to the estimates of the Indian cryptocurrency exchange, there are currently between 1.5 and 20 million crypto users in India. Earlier news, the broker found and compared statistics released by the platform BrokerChooser, India is the country with the largest number of cryptocurrency holders in the world, reaching 100 million people.