West Bengal has emerged as one of India’s steadily growing and balanced crypto markets, according to the CoinSwitch Annual Report 2025. The report places the state among the country’s top 10 crypto states, contributing 5.3 per cent of India’s total invested crypto value. In the Kolkata market, investors are showing a cautious yet diversified approach to digital assets. The report notes that 29.9 per cent of investments from West Bengal are in large-cap assets, while small caps account for 28 per cent. Mid-cap assets make up 22.5 per cent, reflecting a well-distributed portfolio strategy.
Bitcoin continues to dominate investor preference in the state, emerging as both the most-invested and most-traded crypto asset. This trend indicates strong confidence among Kolkata-based investors in established and high-liquidity digital currencies.
Based on insights from over 2.5 crore CoinSwitch users, the report highlights increasing participation from Tier-2 and Tier-3 cities. Younger investors are driving most of the activity, while women account for 26.5 per cent of the state’s crypto investors, signalling gradual improvement in gender participation.