Crypto exchange CoinDCX says nearly 40 % of its user-base now comes from India’s tier-2 and tier-3 cities, with one city, Indore, logging participation close to 10 % of its population. In contrast, metro cities have lagged with only ~2-3 % of residents investing in digital assets. The trend shows decentralisation of crypto adoption as smaller cities access digital investment platforms and leverage fintech. The shift could reshape how exchanges target user‐acquisition and deepen retail participation beyond major urban hubs.