Women have typically made investments in gold and silver. However, younger women are moving away from traditional investing alternatives and toward digital assets like cryptocurrencies, non-fungible tokens, or digital gold and silver as they perceive these assets outperforming them.
Cryptocurrency exchanges experienced a dramatic increase in the number of female investors over the course of the year, which suggests that young women investors are rapidly switching from gold to digital assets in the traditionally male-dominated world of finance. Given that the cryptocurrency market is not burdened by disparities, experts think that women entrepreneurs are emerging alongside investors in this sector.
The overall number of women enrolled in the user base increased by 500 percent between January 2021 and January 2022, according to statistics provided by cryptocurrency exchange CoinSwitch.
Bitcoin exchange Bitay noted a rise in the number of female investors and described it as a persistent trend, noting that it was particularly pronounced in areas like Delhi NCR, Mumbai, and Bengaluru.
Women investors on WazirX also somewhat increased from the previous year. According to the exchange’s year-end report for 2021, women chose Shiba Inu over Bitcoin by a wide margin. The exchange also highlighted that women in crypto have climbed by over 1,000 percent on its platform between January and November 2021.
Even though the business is predominantly male-dominated, women have been steadily increasing, according to CoinDCX, whose platform saw their number climb by 50% year over year.
According to Minal Thukral, EVP-growth and strategy at CoinDCX, the age range of 25 to 45 has participated the most in this adoption (almost 60%), and 80% of these are from Tier 1 cities.
Similar to this, during the last year, women’s investments in cryptocurrencies increased by 20% on the cryptocurrency exchange BuyUcoin.
The number of female cryptocurrency investors is increasing, and almost one in three women want to start investing in digital assets, according to data from the trading platform for digital assets OroPocket.
According to experts, the adoption of cryptocurrency by women has been positively impacted by increased knowledge of technology and its possibilities, rising internet penetration in the nation, and the resulting drop in data disparity.
According to Ashish Singhal, co-founder, and CEO of CoinSwitch, the disparities that traditional banking faces do not apply to the crypto business because it is a new one. The industry has been “thoughtful” and “proactive,” he continued, in recognizing and rewarding brilliance without discrimination.
Today, a number of female business owners occupy key roles in the Indian and international crypto economy. This is notable for a young sector, he noted.
The CEO of BuyUcoin, Shivam Thakral, thinks that the increase is due to women’s increased understanding of financial inclusion and entrepreneurship. Thakral noted that more and more women are launching firms in this industry as a result of global legislative clarity and the practical applications of cryptocurrency.
On the other side, CoinDCX’s Thukral thinks that the ease of purchasing and holding digital assets online is the primary driver of the increase in female investors.
As they see promise in the future of these assets, younger women are now gravitating toward investing in digital assets like cryptocurrencies, NFTs (non-fungible tokens), or digital gold and silver.
“Gold has always been an appealing investment for the Indian audience and will remain so, at least for a few years,” said Amanjot Malhotra, Country Head, India, Bitay. “However, we are seeing a lot of the younger people attracted toward crypto investments.
He claimed that this was due to higher returns and the fact that investing in gold does not yield very high returns.
