Gold still dominates household wealth in India, but cryptocurrency ownership is expanding quickly enough to challenge how younger investors think about alternative assets.
According to figures cited by CoinDCX co-founder Sumit Gupta on September 3, 2026, around 700 million Indian adults, or 75%, own gold, compared with roughly 97.5 million people, or 10.2%, who hold crypto.
Crypto Adoption has Accelerated Rapidly
India’s crypto market has grown from almost zero participation ten years ago to around 100 million users. Growth was not steady. In 2018, the Reserve Bank of India (RBI) put limits on how banks could work with crypto firms, which slowed mainstream uptake but in 2020, the Supreme Court reversed the decision.
After that, smartphones, low-cost mobile data and easier access through domestic exchanges have lowered barriers to entry.
India’s payments system helped with UPI having 55.5 crore users and handling over 24,000 crore transactions in FY 2025-26. With so many people already using apps for money tasks, crypto may find a smoother path ahead.
Gold Still Dominates Household Wealth
Ownership numbers tell only part of the story. Indian households are estimated to hold between 25,000 and 35,000 tonnes of gold. Jefferies estimated household gold holdings at approximately 25,000 tonnes worth USD 3.9 trillion as of March 2026, around four times household equity holdings and twice the value of bank deposits. Crypto remains far smaller. Estimated domestic crypto holdings stood near Rs. 20,437 crore in mid-2026.
Gold and Crypto Offer Different Trade-Offs
Gold benefits from cultural acceptance, lower volatility and established options such as jewellery, coins, ETFs and gold loans.
Crypto offers 24/7 trading, small-ticket access and higher liquidity through mobile platforms, but investors face greater price volatility, custody risks and India’s tax regime, including a 30% tax on crypto profits and 1% TDS on covered transfers.
Can Crypto Catch Up?
Crypto is unlikely to displace gold soon as gold remains deeply embedded in Indian savings and family wealth. However, a 10.2% ownership rate achieved within roughly a decade shows how quickly investor behaviour can change. Continued adoption among younger users, Tier 2 and Tier 3 investors and digitally native households could make crypto a larger complementary asset.
For investors, gold remains the stronger wealth-preservation tool, while crypto offers higher-risk exposure to digital asset growth.
Also Read: PM Modi’s Gold Warning: $71.98 Billion Bill Could Boost Bitcoin Interest
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
