India had 2nd highest growth in crypto usage

Last week, revealed its list of the countries with the biggest growth in crypto users. Based on web wallet creation, Peru was #1, followed by India. According to

Peru, India, Indonesia, and Nigeria are among the countries with the biggest increase in crypto wallet creation based on data from, which has over 52 million wallets created by users worldwide. Nigeria has been the most trending country in recent months, w ith a 60% increase since April. […]

On ZebPay’s global exchange, which serves over 160 countries, the biggest volume growth recently has been from Nigeria. According to, “Nigeria has been the most trending country in recent months. It has increased by 60% its usage of web wallet since April 2020.”

With the growth of interest among Nigerian investors and traders, the government is taking steps to create a legal framework.

Last month, Nigerian media reported that the Ministry of Justice had tabled before the National Assembly the bills that will provide the legal framework for bitcoin and other cryptocurrencies, citing the country’s Attorney General, Abubakar Malami. “The expected bills will prepare Nigeria for emerging realities relating to digital cash, bitcoin and e-currency,” Malami was quoted as saying.

This is welcome news for Nigerians and for the global crypto community, including India.

Despite ongoing rumors about a crypto ban in India, the larger trend clearly points in the direction of regulation and acceptance.

ZebPay has a CEO, Rahul Pagidipati, who is himself a licensed attorney, as well as a full legal team including lawyers and investigators. We have confidence in Indian law and want to work with the government to craft healthy regulations that will protect consumers’ security and allow this economic revolution to thrive in India.

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

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