Are Kerala’s youths getting lured by crypto craze?
Though cryptocurrencies are legal to trade and hold in India, they are not recognised as legal tender — meaning they can be bought or sold, but not used for everyday transactions.
Edul Patel, co-founder and CEO of Mudrex, another crypto platform, notes that 15 per cent of its users are in the 18–24 age group, with 32 per cent aged 25–34.
“These investors are typically tech-savvy and diversify their portfolios with crypto. About 60 per cent of our users are from metro cities, and 40 per cent from tier 2 and 3 towns. Around 8 per cent are based in Kerala,” he says.
Platforms like Giottus, CoinDCX, Mudrex, and CoinSwitch are currently active in India. However, regulatory gaps expose investors to high risk.
Last July, WazirX — a…
