≡ Menu

Indians want to get rich fast

A lot of Indians have started investing in the stock markets in the last 18 months. This is evident from the number of new DEMAT accounts being opened.

As per Hindu Business Line, India now has around 6.9 crore DEMAT accounts.

Here is a chart which will show a sharp rise in the number of new DEMAT accounts opened in India. (source – livemint)

Key drivers to such phenomenal growth are –

  • Sharpe increase in the stock markets after the March – April 2020 crash.
  • A lot of stocks were available at bargain prices.
  • Quite a few people got involved in trading. I know a couple of guys who after losing their jobs started trading to earn a living.

The brokerage industry is very happy with this and so are the Kamath brothers who own Zerodha the largest stock borking company in India when it comes to the number of customers. As per ET Nitin Kamath CEO of Zerodha is richer than Rakesh Jhunjhunwala.

Indian have also started to diversify their investments. They are looking beyond their traditional investment options.

Indian are now investing a big time in Cryptocurrencies.

A lot of crypto exchanges have started up in India and are really doing very good. Some of the big names include CoinDCX, Kuber, Wazirx.

Wazirx claims it has over 7.3 million users. Well, this is a big number considering the risk in cryptocurrency. As per a report, Coindcx also has a big user base of 3.5 million.

As per this article at least 1.5 crores, Indians have invested in cryptocurrencies. A lot of the younger generation is showing interest in these currencies which have given returns as high as 500% in a year.

How much money is invested by Indians in cryptocurrencies remain a mystery? I believe the ticket size of the investment won’t be that big, note this is just a guess.

Looks like Indians want to get rich fast. Slow traditional investment options seem to be boring for the younger generation.

I was in a restaurant where I witnessed a waiter talking about Bitcoin and Ethereum targets with a customer. Well, India is indeed going digital. 

Have you invested in cryptocurrencies yet?

{ 1 comment… add one }

Leave a Comment