As the world becomes more modern, the way women save money and invest is also changing. In recent years, women have become increasingly willing to take risks when it comes to investing. This is especially true when it comes to cryptocurrencies, which are highly volatile and sensitive. Despite this, a study has found that female investors are more likely to own virtual assets than their male counterparts.
For the occasion of Women’s Day, WazirX reported that the platform’s female users had seen a 3.3% increase in trading volume over the past year. This was despite the liquidity crunch that the market was experiencing. From 2021 to 2022, the trading volume of crypto assets by female investors rose from 15.27% to 18.57%. This increase was due to the macroeconomic uncertainties that caused major stablecoins to collapse, as well as bankruptcies, illiquidity, and liquidation.
WazirX also discovered that the average value of crypto held by female users on the platform was nearly 30% higher than the median value held by male users. This value was ₹9,650 compared to ₹6,676. This shows that crypto wealth is now available to both genders. In total, the balance of crypto held by female users was ₹354.9 crore.
The survey also showed that female signups had the highest percentage in the two previous years. The 2021-2022 average was 51.02%, 44.28%, and 44.28% respectively. The highest percentage of signups was for female users aged between 25-35 in 2021 and 36-50 in 2022, with 29.98% and 32.54% respectively.
WazirX has found that since its launch, women have preferred to invest in crypto rather than traditional assets. This is likely due to its accessibility and user-friendliness. The two most popular cryptocurrency choices for female investors are Bitcoin and Tether.
As the world celebrates Women’s Day, the cryptocurrency industry has been gaining traction among female investors. According to a recent survey by WazirX, since its inception, women have preferred crypto to traditional assets. This is mainly due to the lower entry requirements, better access, inclusion, and ease of use. Bitcoin emerged as the top pick with a weightage of 21.6%, followed by Tether which had a total volume weight of 21%. Other cryptocurrencies that female investors are interested in are WazirX (16.4%), Ethereum (14.3%), Shibu Inu (13.6%), and Dogecoin (13.1%).
The survey revealed that those with more than 30% of their assets dedicated to cryptocurrencies are mainly in the age group of 30-45, followed by the 18-30 group. 24% of women have invested more than 3 years in crypto since owning more than 30%. Financial independence was cited as one of the top reasons for investing in crypto, with 45% of women aged 45-60 investing for this reason, compared to 41% of those aged 18-30 and 34% of those aged 30-45.
25% of the respondents reported feeling more socially accepted for trying out new financial assets, while 15% felt more financially educated and 10% more knowledgeable about technological advances. External sources such as partners, news articles, market trends, and social media were the main influencers in encouraging women to invest in cryptocurrencies.
The survey found that Maharashtra, Uttar Pradesh, Tamil Nadu, Delhi, Karnataka?, and West Bengal had the largest number of crypto-investors who had made their own independent decisions to invest in the asset and had done adequate research.