It’s no surprise that women today are taking more and more control over their finances, and are venturing into uncharted territories, particularly when it comes to crypto currency and digital assets. And the latest data from crypto exchanges suggests a rising influx of users, particularly among women from smaller towns in India.
According to a latest report by Binance-owned Indian crypto exchange, WazirX, India has seen 2,648 per cent growth to date in user signups from smaller cities, or tier-II and tier-III cities, across the country. According to the report, “Tier-II and tier-III cities have driven almost 55 per cent of total user signups on WazirX in 2021.”
What’s more, the data marked a significant rise in the number of female investors and enthusiasts. And out of all the registrations credited to women, 65 per cent of the accounts are based out of India’s tier-II and tier-III cities.
Citing the pandemic-induced lockdown as a principal motivator behind the rise, WazirX recorded average growth of 2,950 per cent in tier-II cities such as Ahmedabad, Lucknow, and Patna; this was followed by a similar spike of 2,455 per cent in tier-III cities like Ranchi, Imphal, and Mohali.