The fact that women are cautious and patient investors is quite well known, and studies have shown that women who have financial literacy and independence usually invest in reliable asset classes. Given this notion, the emerging evidence that women investors are now looking to build assets in the cryptocurrency market clearly indicates how the reliability of this sector is growing. This stands especially true for the Indian crypto market, where women are slowly, but surely, making their mark.
According to the Bitcoin Investor Study 2020, conducted by cryptocurrency management company Grayscale Investments, around 47 per cent of all women investors were open to investing in just Bitcoin, while 66 per cent women said they are willing to invest in the asset class. This shows quite the rise since 2019, when only 43 per cent women investors showed any willingness to put money into Bitcoin.
This is consistent with the reports published by various cryptocurrency exchanges based in India, especially since the ban on cryptocurrency payments was lifted by the Supreme Court of India in March 2020. For example, BuyUcoin, which has over four lakh users in India, reported a 1,040 per cent rise in the number of women investors since the ban was lifted. Another crypto exchange, WazirX, saw a 1,355 per cent rise in women investors in the last year—and also reported that 63 per cent of its women traders in this asset class are below 34 years of age. Exchanges like CoinSwitch Kuber amd CoinDCX also report similar increases in the number of women investors.
But while this growth in the number of women investors in the Indian crypto market is heartening, it’s also important to remember that the World Economic Forum’s Global Gender Gap Report 2021 ranks India in the 151st position when it comes to the economic participation and opportunity sub-index. Clearly, the scope for improvement, and better positions for women in the Indian crypto market, is huge and quite vital.