Surge in women investors on Indian crypto platforms

Gone are the days when women shied away from stock markets, nowadays women investors are going gaga over cryptocurrencies. Latest data shows that the count of new women investors, over the last one year, on Indian crypto platforms has surged by up to 1,400%.

Shivam Thakral, CEO BuyUcoin, highlighted that when it comes to crypto investing, women tend to choose an asset class, which has very strong fundamentals. “Ethereum blockchain has very strong fundamentals and a lot of projects around the globe are using it to power their infrastructure. In 2021, we are expecting almost five times jump in the number of women investors.”

BuyUcoin, which has about four lakh users in India, recorded 1,040% rise in number of women investors since the Supreme Court overturned a 2018 ban by the Reserve Bank of India (RBI) on cryptocurrency payments. Women investors prefer ethereum, ripple, tether and cardano.

According to CoinDCX, the total women investor base increased to 20% as of 5 March 2021, compared with 15% at the end of 2020. The platform said that in 2021, new women investors went up three times compared with the November – December period.

WazirX, a crypto exchange, has also recorded 1,355% rise in women investors in the last one year. It said 63% of women traders are less than 34 years of age and 82% are less than 44 years in India. Overall, 15% of WazirX’s users are women investors. Groww, an online mutual fund platform, revealed that an increase in income level of women investors saw an increase in the number of asset classes in the investment portfolio. It said that when it comes to investing in cryptocurrencies, about 6% of women making more than Rs 30 lakh per annum have invested in digital currencies.

Also Read: Government open to evaluate, explore cryptocurrencies: Anurag Thakur

Analysts believe that attractive investment opportunities of the crypto market is one of the main reasons behind the growing interest of women toward digital money. Women can get more income through trading, investing and virtual spending of cryptocurrency, and the token economy can democratize access to capital.