A recent survey conducted by Mudrex, a leading cryptocurrency exchange, sheds light on a noteworthy trend among Indian investors: the inclusion of cryptocurrencies in retirement portfolios. Spanning respondents ranging from 20 to 60 years old and encompassing various income brackets, the survey findings indicate that a significant portion—45%—of those with retirement plans have opted to allocate funds to cryptocurrencies.

Moreover, the survey unveils a forward-looking perspective among participants, with 50% expressing confidence that cryptocurrencies will emerge as mainstream investment vehicles within the next five years. Interestingly, a majority of these individuals—59%—favor making investment decisions independently, indicating a strong sense of self-reliance within the investor community. Conversely, only a small fraction, 5%, seek advice from professional investment managers.

Further analysis of the survey data reveals a prevailing trend toward self-directed financial management in the realm of cryptocurrency investments. A staggering 70% of respondents who have invested in cryptocurrencies assert their autonomy in making financial decisions, reflecting a growing confidence and familiarity with the digital asset landscape.

When probing the motivations behind cryptocurrency investments, the survey underscores wealth appreciation as the predominant factor driving investor interest. Notably, 72% of respondents who have ventured into cryptocurrencies cite this as their primary incentive, surpassing the 63% of traditional investors motivated primarily by economic gain.

This inclination toward long-term wealth accumulation through cryptocurrencies echoes findings from a previous survey conducted by WazirX, a prominent Indian crypto exchange. Despite the regulatory uncertainties surrounding cryptocurrencies and the imposition of a hefty 30% tax on crypto gains, Indian investors remain undeterred in their enthusiasm for digital assets.

Conducted over the period from June 2023 to January 2024, the Mudrex survey coincided with a notable uptick in cryptocurrency trading activity in India. Edu Patel, CEO of Mudrex, highlights a significant surge in trading volumes, with a 192% increase from December to January, followed by a further 270% rise from January to February. This surge in trading activity continued into March, where volumes tripled compared to previous months.

Similar growth patterns were observed across other major crypto exchanges operating in India, including CoinDCX and WazirX, during the first quarter of 2024. These developments underscore a growing acceptance and integration of cryptocurrencies into the financial landscape of India, with investors increasingly viewing digital assets as viable instruments for wealth accumulation and retirement planning.