South Asian Crypto Investors are Cautious, Demand Advanced Crypto Awareness, Survey Shows

The crypto market in countries like India and Sri Lanka are maturing at a rapid pace, according to a survey by Binance. The exchange says that the demand for advanced security measures is intensifying in Asia's crypto markets, where investors are cautious and frequent in their engagements with volatile crypto assets. India, Vietnam, and Thailand are among Asian nations that have taken a keen interest in exploring the crypto sector in recent years. While these countries are still working on their respective crypto regulations, their citizens continue to dabble with these volatile assets. Binance has advised Web3 firms to develop security solutions tailored to address the needs of Asian crypto markets.

Around 28 Percent of Asian Crypto Users Are 'Newcomers'

Binance claims to have surveyed over 29,800 cryptocurrency users across Southeast, South, and East Asia to compile its Asia Crypto Security Survey report. The overall crypto market in Asia no longer belongs to the “newcomers”, the exchange noted. Only 28 percent of Asian crypto users were still within the first six months of starting their crypto investment journey, while 72 percent of crypto holders have been familiar with the sector for over a year or two.

“This blend of newcomers and seasoned users signals an ecosystem in transition: evolving from speculative interest to sustained participation,” Binance observed. Most Asian crypto users have carefully maintained modest portfolios of under $10,000 (roughly Rs. 8.50 lakh), indicating at a mindful approach to purchasing these unstable assets. Over 64 percent of the total number of respondents reported visiting crypto services several times a week.

Over half of the respondents expressed the desire to participate in platform-organised anti-scam simulations like phishing detection tests. “To enhance trust and understanding, respondents suggested improvements in anti-scam education content on platforms. Key areas for improvement include simplifying technical content (63.7 percent), increasing the frequency of notifications (39.3 percent), incorporating localised case studies (36.4 percent), and diversifying interaction methods (26.7 percent),” the report said. “This indicates a strong appetite for practical, gamified education, particularly if tied to rewards or recognition.”

Asian countries are trying to keep up with the ongoing crypto exploration drive in other global regions like the UAE, the EU, and the USA. India has consistently topped Chainalysis' list of nations showing a rapid adoption of crypto for the last two years. Presently, India awaits its crypto discussion paper that is being worked out by the finance ministry, which will likely clarify India's stance on the sector.

In India, crypto incomes are taxed by 30 percent, while a one percent tax deducted at source (TDS) is levied on each crypto transaction. Crypto advisors in India, meanwhile, are accelerating efforts to train law enforcement agencies around probing Web3 crimes. The crypto sector is also formulating self-regulatory guidelines to keep the industry healthy as it awaits comprehensive legislation in the world's most populous country.

Thailand and Vietnam are also taking active steps to spread awareness and knowledge around cryptocurrencies, while tightening the noose around illegal crypto operations to prevent the risks of fraud and financial losses. Pakistan recently established a national crypto council, with Binance co-founder Changpeng Zhao appointed as its principal advisor.

Binance's Bader Al Kalooti has acknowledged that South Asian crypto users are serious, discerning, and increasingly security conscious. “They're tech-savvy individuals engaging with crypto exchanges multiple times a week, even daily. They're building knowledge, not just portfolios. What they're asking for isn't hype or high-risk speculation—they're demanding trustworthy platforms, transparent protections, and interactive education,” he said.