How to buy Dogecoin in India and how to invest in Bitcoin were among the top 10 ‘How to’ search trends on Google in 2021. Google India has released the ‘Year in Search 2021’ report which reveals the topics and queries Indians searched the most throughout the year.
Bitcoin is the most popular cryptocurrency followed by thousands of other coins. As per the data available at the time of writing this report on Coinmarketcap today (Wednesday, 8th March 2021), Bitcoin was the top cryptocurrency by market cap and priced at $50,432.93. Dogecoin was ranked 11th and priced at $0.1798.
Interestingly, ‘How to buy Dogecoin in India’ was the 6th most searched ‘How to’ query of 2021. ‘How to Invest in Bitcoin’ was the 9th most searched query. ‘How to check IPO allotment status’ (ranked 8th) was the only other finance-related ‘How to’ query in the top 10.
Elon Musk (ranked 5th) was among the most searched personalities in India. Musk is widely credited for popularising Dogecoin in India and the world. Some other most searched personalities on Google this year were Neeraj Chopra, Aryan Khan, Shehnaaz Gill, Raj Kundra, Vicky Kaushal, PV Sindhu, Bajrang Punia, Sushil Kumar and Natasha Dalal.
The year 2021 witnessed a massive rise in crypto adoption in the country, with reports claiming there might be millions of crypto investors in India. The number of crypto exchanges operating in India has also proliferated in recent months. However, there is no official data available on this as the Government has not started tracking the sector. Crypto trading and investing activities are currently being carried out through private centralised and decentralised exchanges.
According to a Nasscom report, around $6.6 billion has been invested into digital assets by over 15 million retail investors in India. As many as 75% of
digital asset investors in India are aged between 18 to 35 years old.
Meanwhile, policy uncertainties around cryptocurrencies in India are yet to be over. The Government is expected to introduce a bill to regulate cryptocurrency transactions and crypto exchanges in the ongoing Winter Session of Parliament.
It has been reported that Government may ask the stocks and commodity markets regulator SEBI to oversee cryptocurrencies and regulate crypto exchanges operating in India. The upcoming Bill may also do away with the use of the word ‘currency for crypto’ and legalise the use of ‘crypto assets’ only.