Only about 15% to 20% of Indian cryptocurrency investors are considered to be women, according to statistics supplied by local crypto exchanges.
A decentralised and democratic financial system has always been one of the main cornerstones of cryptocurrency since the introduction of Bitcoin back in 2009.
Unfortunately, the crypto business has long struggled with being incredibly male-dominated, just like the IT and financial industries. Women have always been underrepresented in the crypto industry, whether it be as entrepreneurs, investors, or in other capacities.
In India, things seem to be changing, though. According to information shared from Indian cryptocurrency exchanges, only about 15-20% of cryptocurrency investors in India are thought to be women; these are likely professionals in the workforce or women who work for themselves in urban areas. Recent information from these sources reveals that the percentage of female users has dramatically increased, especially in smaller towns.
There are also a few intriguing stories that demonstrate how, despite the fact that the cryptocurrency market is now on a downcycle, the number of new female investors is giving males a run for their money.
Also intriguing is the fact that women are increasingly using cryptocurrency and not only as investors. Women are making significant inroads into the cryptocurrency industry as entrepreneurs, influencers, and producers.
Given the numerous and diverse causes of this, it would be difficult to attribute this to a single cause. The rising popularity and use of Bitcoin and cryptocurrencies is a significant factors. People have begun to see the long-term potential that investing in Bitcoin and cryptocurrencies may provide as the sector has grown.
Another intriguing explanation might be that cryptocurrency exchanges and platforms are localizing content and attracting new users in their own languages since growth has slowed in tier-1 cities. Many cryptocurrency platforms are now accessible in local languages, which draws users from Tier 2 and Tier 3 cities.
Returning to the idea that women from these cities are responsible for the creation of these exchanges, it appears that these women are more conscious of the value of saving money and achieving financial security. These women are just as driven and as ambitious as their counterparts in tier 1 cities, and they are always looking for new opportunities to further their professions and their path to financial independence.
Women are not unfamiliar with investing in India. In reality, women frequently decide how to invest for the family in their homes. These investments, however, have often only been made in gold and silver.
Women have started to comprehend the convenience and benefits associated with purchasing and maintaining digital assets like Bitcoin as circumstances have changed and there has been an increase in knowledge of cryptocurrencies.
Younger women are also starting to introduce their friends and family to invest, and some have even started trying their hands at NFTs and other digital assets due to the high returns that investing in Bitcoin and other cryptocurrencies have provided along with the expectation of potential returns in the future.
This has been positively impacted by the country’s increased internet usage, which has also led to a decrease in data inequality.
The expanding cryptocurrency ecosystem in India also plays a role in this. Companies in this industry are actively recruiting women and elevating a modest but rising percentage of them into senior roles. This again encourages more women to enter the crypto industry and gives them role models in their network.
In my opinion, the women in the crypto industry who have persisted in doing so in the face of obstacles are true trailblazers who will soon be followed by a large number of others. Hopefully, this is the start of a long-term trend that will bring more women into the sector, which will help the ecosystem as a whole.
Despite growth spurts, there are still not many women working in the cryptocurrency industry. As more women participate in the cryptocurrency ecosystem, their influence will grow, and eventually, advantages will be distributed to all women. In addition to giving women working in the field more chances, this would enable gender diversity and inclusion in the industry.
However, only women and cryptocurrency businesses should bear this duty. Regulators must also make sure that the crypto industry is inclusive and diverse going forward. This would improve the ecosystem and pave the way for a better future for all parties involved. The future of cryptocurrency will undoubtedly include both sexes.
