Cryptocurrencies Update | 45% of investors want to invest in cryptocurrencies: Grow Survey

This time, despite the announcement of Tax on Cryptocurrencies in the budget, its popularity among investors has not diminished. This information has been received from the survey of investment platform Grow. Last year saw a lot of investor interest in cryptocurrencies. Investors invested a lot in this in the desire of high returns in less time. But, in the Budget 2022, Finance Minister Nirmala Sitharaman gave a big blow to the investors of cryptocurrency.

The Finance Minister said that profits from cryptocurrencies will be taxed at 30 percent. TDS of 1% will also be levied on its transactions. Apart from this, there will be no provision to carry forward the loss. But, it seems that these announcements have not affected crypto investors. Grow’s survey showed that about 45 percent still want to invest in crypto.

Cryptocurrencies are the most volatile instruments. This is the reason why experts ask investors to adopt the Systematic Investment Plan (SIP) route for investing in crypto. Some exchanges such as Bitbns, Unocoin, Wold, Jebbe and Giotus allow investors to invest in crypto via SIP. SIP protects investors from huge losses in the event of a sudden drop in the value of a crypto coin.

Rishabh Parekh, Founder and Chartered Accountant, NRP Capital, says, “Betting in crypto should be avoided. You should invest only that amount of money, which you are not too afraid of losing.” Investors from 357 centers in small towns and rural areas participated in this study. Of these, 56.6 per cent investors were from Tier-4 cities like Balasore, Medinipur, Anglu, Ballia, Deoria, Sikar, Nadia, Singhbhum and Yadgir.

According to the survey, retail investors will continue to invest in stocks despite volatility in the stock market from the beginning of this year. About 42 per cent of the people surveyed expected the stocks to do well. 96 per cent of the people said they would invest in stocks this year. 54 per cent people said that they are satisfied with the performance of their investments in 2021.

Buoyed by their investment performance in 2021, investors in small towns and rural areas are ready to invest their savings in financial assets. 43 per cent of investors said they want to invest 10-15 per cent of their income directly in financial assets. Harsh Jain, Co-Founder and COO, Grow said, “We are witnessing a retail investment boom, fueled by smaller cities. With tech investing platforms, strong regulators and the government’s emphasis on digitization, it is easier for millions of investors to invest. It is done.”

Mutual funds top the priority list of Indian investors. It is no surprise, as the popularity of mutual funds has grown tremendously in the last few years. Investors are planning to increase their investment in mutual funds. 82 per cent investors said that they want to invest through mutual funds. In comparison, 66.8 per cent people wanted to invest in mutual funds in 2021.

In 2022, investors want to try a variety of investment avenues. They want to invest in cryptocurrencies, from IPOs to stocks listed on US stock exchanges. 60 percent of the people surveyed said that they want to invest in IPOs. 56 per cent of those surveyed said they want to invest in information technology stocks.