Indians are adopting cryptocurrency faster than other nations – 30% population holding crypto! ( 390 mil )

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining


Was surprised by this very impressive & unlikely number. Can see it being called out as nonsense here. Went digging to see what methodology came to this result. No source on the article but a brief Google found that it is this that is being quoted.

[https://dvh1deh6tagwk.cloudfront.net/finder-us/wp-uploads/sites/5/2021/06/Crypto_Adoption_final-compressed-1.pdf](https://dvh1deh6tagwk.cloudfront.net/finder-us/wp-uploads/sites/5/2021/06/Crypto_Adoption_final-compressed-1.pdf)

The sample size is a bit weak in my opinion. 2511 respondents to a Google form is probably not an adequate sample size to extrapolate out data on a population of 1,366,000,000 haha. This would be the same as drawing conclusions on the entire UK population from a sample of 122 responses whereas the UK sample size was actually 2000. So if this was deemed a reasonable sample:population ratio for the UK to draw conclusions from, perhaps the same ratio would have been appropriate for more densely populated countries to get equally representative data points. This would have required 16x more data for India, 41000 surveys.

Pretty intense sampling bias too. Responses gathered via Google form. Which I’m sure isn’t likely to entirely disregard a large chunk of the population or anything.

[https://services.google.com/fh/files/misc/white_paper_how_google_surveys_works.pdf](https://services.google.com/fh/files/misc/white_paper_how_google_surveys_works.pdf)

This is how Google surveys works, which was used by the study. Makes it clear that indeed the sample is drawn from 18+ internet users.

So we have established that the sample only represents adults with access to the internet. Which looks like it was just..

[https://www.statista.com/statistics/792074/india-internet-penetration-rate/](https://data.worldbank.org/indicator/IT.NET.USER.ZS?end=2018&locations=IN&start=2015)

..45% of the population

I am also of the opinion that being known as a tech oriented country, & we’re already only sampling internet users, a bit subjective but I feel like owning crypto may well be considered a status symbol & I doubt all of the responses were the complete truth

Disregarding that last part though. If I’ve understood the methodology of the study correctly & not made any false assumptions it is not 30% of the population of India that owns crypto. More like 30% of the adult internet users in India claim to own crypto. Which is 30% of 45% of 1,366,000,000 -> ~184M = ~13.5%

So assuming all responses were honest. It’s actually only about 13.5% of the population of India claiming to hold crypto 🙂

One flaw in my math is the data only represents 18+ internet users but I could only find a figures for 0-14 then 15-64 so couldn’t just deduct specifically the unrepresented <18s from the population. So even closer to the truth would be 13.5*0.7 = 9.45% to remove the ~30% 0-14s from the population that were not represented by the sample

Both 13.5% & 9.45% seem like more realistic figures to me =D

This is the rabbit hole insomnia decided to take me down tonight & I was skim reading through pretty haphazardly. Corrections more than welcome lol

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close