Cryptocurrency trading platform WazirX on Thursday declared its trading volume surged a massive 1,735% year-on-year to around $43 billion in 2021.
Amid the non-fungible tokens (NFTs) craze, WazirX NFT Marketplace also witnessed enormous participation as over 962 creators stamped 12,600 NFTs and have traded over 5267 of them cost over 262,896 WRX (about ₹2.4 crores) in 2021 so far.
This spectacular growth comes on the back of bitcoin prices, the most famous cryptocurrency, and other digital tokens noticing a massive rally last year.
Emphasizing the demographic break-up of its userbase, WazirX stated 66% of its entire users are below 35 years of age. The company said that the number of new female users increased by 1,009% vis-à-vis an 829% growth in addition to male sign-ups during this year.
“There was also a 700% increase in the number of participants from smaller cities like Guwahati, Karnal, Bareilly, thereby signalling the growing interest from rural and semi-urban areas,” WazirX expressed in its statement.
“The audience is evolving and recognizing crypto as an emerging alternative asset class. The government’s impetus towards a regulated approach for crypto would put India on the world map with other developed countries dealing in crypto. This, coupled with strong institutional participation in crypto would go a long way in paving the future of this popular asset class in India and helping us become Atmanirbhar Bharat,” said Nischal Shetty, CEO, WazirX.
82% of our users earned profit
$43B+ trading volume
51% entered crypto due to friends & family
1009% increase in female signups
66% users below 35
44% users invested 10% portfolio in crypto
— Nischal (WazirX) ⚡️ (@NischalShetty) December 16, 2021
About WazirX Journey
Nischal Shetty, the famous cryptocurrency influencer in India, founded the firm in 2018. For years, the startup has been a well-known name in the cryptocurrency exchange market. The online platform handles more than 6 lakh users.
The firm provides a platform to all cryptocurrency exchange enthusiasts globally. The firm offers Indian rupee exchange facilities for global users without any extra charges. Those users can also withdraw money from their places easily.
Shetty, the founder of WazirX, is in the cryptocurrency market since 2009. Initially, he started his career as a software developer. Shetty started his entrepreneurship journey with Crowdfire, a social media management platform having 20+ million users.
Nishchal, a blockchain technology supporter, took crypto currency seriously in 2017. Exploring other crypto exchange platforms, it did not attract him due to their complicated user interface and transparency issue. That is how he started building a crypto exchange platform that has transparency, trust and a good user interface. He was also featured on India’s first Forbes ’30 under 30′ entrepreneur’s list.