There is a surge in crypto adoption among Millennials and Gen X in India, with Uttar Pradesh and Maharashtra leading, as per a CoinSwitch report. This indicates a shift towards longer-term investment. (Representative Image )AI Quick ReadMillennials and Gen X investors, aged between 26–35 years, dominate participation in the cryptocurrency markets in India, comprising 48% of the transactions, crypto trading platform CoinSwitch's flagship report released on 21 April showed.
The 35 years and older age segment in the country has emerged as the fastest-growing demographic, led by Gen X and older millennials entering the market, as per the Q1 2026 edition of ‘India’s Crypto Portfolio: How India Invests’ report. Insights are based on activity of over 2.5 crore investors on CoinSwitch, and point to a clear shift in market maturity.
The report noted that unlike younger cohorts who often enter markets early in experimentation phases, Gen X and millennials are adopting newer financial assets “after gaining confidence in their long-term value and regulatory clarity”.
“This shift suggests that crypto in India is moving beyond early adoption into a more mature participation phase, where investors with greater financial experience and capital are entering the market,” it stated.
According to Ashish Singhal, Co-founder of CoinSwitch for the quarter reviewed, it is not just about who is investing, but how they choose to do so. "The rise of the 35+ segment, alongside increased dip buying and the continued dominance of long-term holding, signals a clear shift toward a more mature market,” he said.
Among states, Karnataka showed the highest conviction in blue-chip assets, with 32% portfolio allocation, while investors in Bihar had the highest participation in small-cap assets. Further, Andhra Pradesh led the list for women's participation, with female investors comprising 59.1% of the mix; and Haryana recorded the highest male participation.
Across India, portfolios now reflect a balanced mix of blue-chip, large-, mid-, and small-cap assets, shifting toward structured investing, the report noted. It added that findings also reinforce the importance of informed and responsible investing, as more investors shift toward structured portfolio allocation and long-term strategies.
In Q1 2026, investors showed more conviction, with 61.3% of users choosing to hold assets, signalling strong belief in long-term crypto growth: 28.3% rode the momentum wave, while 20.4% actively bought the dips. Overall, users weren’t afraid to time the market when opportunities arrived.
In addition, 24.7% of users are diversifying their portfolios, while 22% are experimenting with alternative strategies, highlighting that India’s crypto investors are increasingly adopting a multi-strategy approach rather than relying on a single investment style, the report added.
Note: These insights are based solely on CoinSwitch user data and do not reflect trading or investment activity on other platforms.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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