Financial independence is viewed as extremely important by a substantial number of women. However, they only make up a small fraction of the bitcoin community. According to a research, more female investors (76 per cent) than male investors (52 per cent) admit to being unfamiliar with this new asset class. And, as a result of this unfamiliarity, women do not invest. While no one is preventing women from investing in cryptocurrency, until recently, little was done to promote them.
In India, the year 2020 marked a watershed moment for the crypto industry. Following the Supreme Court's clarification of the asset class's validity, the number of female investors entering the field has steadily increased.
Women are becoming more interested in this new asset class all across the world because they are more inclined to make investing decisions based on asset class education, according to a survey done by Grayscale, an asset management company dealing with investment and cryptocurrency. Surprisingly, 93 per cent of women said that if they were more educated on the subject, they would be more inclined to investing in Bitcoin.
While women currently make up a small percentage of the cryptocurrency community, they have been fighting hard in the Indian industry. Aside from the increase in female investors, the overall ratio of women working in the Indian crypto industry is expanding at a faster rate.
Women are superior crypto investors due to two distinct characteristics:
To begin with, women are savers. According to a 2021 Fidelity Investments survey, women save around 8.3 per cent of their income (men save only 7.9 per cent of their income). Women with more money have the ability to diversify their investments into high-return assets such as cryptocurrencies.
Second, women make better investors because they evaluate risks in practically every situation and try to mitigate them as much as possible. Female investors, according to Merrill Lynch research, assess risks before investing in an asset class. As a result, female investors can be more analytical when it comes to investing. Their caution is warranted when investing in a volatile market like Bitcoin.
Women do not have equal access to financial services in nearly 40 per cent of countries, according to the World Economic Forum's Global Gender Gap Index 2021, a research on the total gap between men and women across 149 countries. Women lose possibilities to grow and thrive if they are unable to open bank accounts and trade money.
India is progressing in its efforts to improve financial inclusion. Women's participation in economic pursuits is still low in several sections of rural India. Due to a lack of financial awareness and resources, these women are unable to become financially self-sufficient.
Women, particularly those without access to a bank account, may find cryptocurrency to be extremely freeing. Furthermore, because cryptocurrency has low entry barriers, all you need to get started is a smartphone with an internet connection. Crypto can be a strong instrument to assist the world advance towards financial inclusion and closing the gender gap because it does not require clearance from a third party.