news 
India’s Small City Botad Becomes 10th Largest Region for Bitcoin Investors
A recent report by Coinswitch Kuber, a popular Indian crypto exchange, has revealed some astonishing facts about the cryptocurrency market in India. The survey found that a small city in the state of Gujarat called Botad has taken the 10th position as the largest region for Bitcoin investors.
The data highlights that nearly 30% of the city’s population is involved in crypto investment, which is a staggering figure considering the total number of people living in the city. According to the report, there are approximately 380,000 Bitcoin investors in Botad, accounting for 1.9% of the entire 20 million Bitcoin investors in India.
Botad has not only taken the 10th position but has also emerged as a major hub for offline crypto-fiat deals. This is particularly remarkable considering that the city is small and not well-known globally. Gujarat is widely recognized as a traditional entrepreneurial hotbed, and it comes as no surprise to many experts that this region would be a key player in the cryptocurrency market.
It’s worth noting that none of the major Gujarat cities like Ahmedabad, Surat, Rajkot, or Vadodara made it into the top 10 rankings. This might be due to the fact that these cities have not been able to adapt as fast to the changing crypto landscape.
However, Botad has shown remarkable growth in this space, and its residents are highly enthusiastic about cryptocurrency investments. It’s important to note that a large number of these investors may not be using centralized exchanges but rather opting for offline crypto-fiat deals.
Source: bitcoinik.com
