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Business EconomyPosted at: Apr 9 2021 3:07PM


Unocoin witnesses growth in user base amid the growing Cryptocurrency valuation

Kolkata, Apr 09 (UNI) The prices of cryptocurrencies have increased significantly and with many well-known corporations trying to hold bitcoin on their balance sheets, the attention increase has gone through the roof.
A lot of people who are signing up nowadays are the ones who were on the fence for more than a year. This is bringing in new money into the system and it is in terms of 3x as compared to the last quarter of 2020.

Unocoin is witnessing a good balance of professionals and businessmen when it comes to mid-size investments and generally the enthusiastic millennials when it comes to smaller cheque size investments. The new joiners nowadays are in the age range of 25-40 years whereas the men to women ratio have continued to be the same for many years that stands at 85:15. Though the numbers on both have gone up and have doubled since the last quarter.

Sharing his views on the growing interest of Indian users in Cryptocurrencies , Sathvik Vishwanath CEO & Co-Founder of Unocoin, says, “We have seen at least 2x the number of users in the Q1 of 2021 as compared to the last quarter of 2020. Our platform is well known for being friendly for new-comers and investors than pure speculators and traders. Our focus has continued to be the same. The new money flowing in is fueling the entire crypto industry worldwide and the interests among millennials are at an all-time high. Many are realising that it is easy to sell bitcoin at these all-time high prices but would be very tough to buy them back in the future”

The world of cryptocurrencies is still advancing and we are still in its value discovery phase. Starting with the coronavirus outbreak in 2020 till early this year, many favourable factors have emerged that are driving the rise in cryptocurrency value. From a lot of money printing to unemployment, recession and inflation; each factor has played a key role in driving investor's interest in cryptocurrencies and ultimately, in the growth of the market. However, many people still don't have the right kind of tools and knowledge to invest in crypto assets. With many corporations entering the market and guiding people about crypto trading, we will see impressive growth and a stronger market during the rest of the year.

UNI XC-AND
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