Crypto Investors Across Indian States: 2025

Geographic Distribution

• Delhi NCR leads India’s crypto landscape, accounting for 20.1%–20.9% of total investments. This is more than double the contribution of the next largest region.
• Bengaluru ranks second with 9.6%, followed by Mumbai at 6.5%.
• Other prominent cities:
  • Pune: 3.5%
  • Jaipur: 3.3% (top among Tier-2/3 cities)
  • Thane: 2.6%
  • Lucknow: 2.4%
  • Kolkata: 2.1%
  • Botad (Gujarat): 1.9% (notable for rapid recent rise)
• Tier-2 and Tier-3 cities such as Jaipur, Lucknow, Jalandhar, Dehradun, and Botad are witnessing robust adoption, reflecting the expansion of crypto activity from major metros into smaller cities and towns.

City/Region	Share of Crypto Investments (%)
Delhi NCR	20.1–20.9
Bengaluru	9.6
Mumbai	6.5
Pune	3.5
Jaipur	3.3
Thane	2.6
Lucknow	2.4
Kolkata	2.1
Botad (Guj)	1.9
Others	42.9

Key Demographics

• Age: Nearly 75% of crypto investors in India are under 35 years old.
  • Largest segments: 26–35 years (42%), 18–25 years (30%)
  • The 36–45 age group is steadily growing in size.
• Gender: Women account for roughly 11% of investors, with gradual growth in participation.
• Investor Profiles: Major cities favor blue-chip and large-cap tokens; smaller towns show increasing enthusiasm for meme coins, DeFi, gaming, and Layer-2 tokens.

Regional Preferences and Trends

• Delhi NCR, Bengaluru, and Mumbai strongly prefer stable, large-cap tokens and “blue chip” crypto assets.
• Smaller cities:
  • Bengaluru: Leads in Layer-1 assets (49% of that segment’s action).
  • Assam’s Barbaka: Leads in DeFi participation (24%).
  • Jalandhar: Notable for meme coin interest (18%).
  • Karnal: Leads the gaming category (11%).
  • Mysore: Dominant for Layer-2 activity (8%).

Expansion Beyond Metros

• The rapid adoption in Tier-2 and Tier-3 cities is narrowing the digital asset investment gap with metros, making India’s crypto market much more geographically diverse in 2025.
• Smaller cities reflect a younger, tech-savvy investor demographic and often see greater portfolio diversity, experimenting across trending asset classes (meme coins, DeFi, gaming tokens).

Summary:
Crypto investments in India have expanded rapidly beyond metros, with Delhi NCR, Bengaluru, and Mumbai together accounting for just over one-third of all activity. Tier-2/3 cities like Jaipur, Lucknow, and Botad are emerging growth engines, driven by young investors keen to explore new asset classes. While the overall base still skews young and urban, regional diversity in participation and portfolio choices is growing rapidly, marking a new era for India’s digital asset market.