While India does have access to several crypto wallets since 2014, downloads of such apps went up significantly in 2021. Two of the main wallets for this increase are CoinDCX and CoinSwitch, which both released in 2020. This according to estimates based on the downloads of 25 different apps that focus on digital assets since 2015 - and who attracted the highest average amount of downloads per day since the initial release of the app. India's development is significantly more recent than that of, for example, the United States where investment apps like Robinhood existed well before cryptocurrencies became a popular investment tool. India's apps were specifically designed to tie into the new trend, whereas in the U.S. crypto became part of the portfolio of already existing apps.
Number of downloads of 25 apps for decentralized digital assets - cryptocurrency, DeFi, NFT, Web3 (metaverse) - in India from January 2015 to July 2022
The 25 apps shown here are the largest in the country based on average downloads per day since initial release; Numbers are interactive: Clicking on the name reveals or removes that app from the graphic
Supplementary notes
Numbers have been gathered and sorted by Statista, based on the number of downloads per day since the app's initial release date. This to account for crypto wallets that appeared from 2020 onwards and became popular overnight - which would not reveal themselves when sorting via a metric that measures "lifetime" downloads.
The numbers provided do not include decentralized exchanges such as UniSwap, certain blockchain games like Axie Infinity, NFT collections such as Bored Ape Yacht Club or decentralized metaverses like Decentraland, as all of these are not available in the Google Play Store or Apple's App Store.
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Statista. (August 11, 2022). Number of downloads of 25 apps for decentralized digital assets - cryptocurrency, DeFi, NFT, Web3 (metaverse) - in India from January 2015 to July 2022 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1326250/digital-asset-wallet-downloads-in-india/
Statista. "Number of downloads of 25 apps for decentralized digital assets - cryptocurrency, DeFi, NFT, Web3 (metaverse) - in India from January 2015 to July 2022." Chart. August 11, 2022. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1326250/digital-asset-wallet-downloads-in-india/
Statista. (2022). Number of downloads of 25 apps for decentralized digital assets - cryptocurrency, DeFi, NFT, Web3 (metaverse) - in India from January 2015 to July 2022. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1326250/digital-asset-wallet-downloads-in-india/
Statista. "Number of Downloads of 25 Apps for Decentralized Digital Assets - Cryptocurrency, Defi, Nft, Web3 (Metaverse) - in India from January 2015 to July 2022." Statista, Statista Inc., 11 Aug 2022, https://www.statista.com/statistics/1326250/digital-asset-wallet-downloads-in-india/
Statista, Number of downloads of 25 apps for decentralized digital assets - cryptocurrency, DeFi, NFT, Web3 (metaverse) - in India from January 2015 to July 2022 Statista, https://www.statista.com/statistics/1326250/digital-asset-wallet-downloads-in-india/ (last visited November 21, 2024)
Number of downloads of 25 apps for decentralized digital assets - cryptocurrency, DeFi, NFT, Web3 (metaverse) - in India from January 2015 to July 2022 [Graph], Statista, August 11, 2022. [Online]. Available: https://www.statista.com/statistics/1326250/digital-asset-wallet-downloads-in-india/
