Indian Crypto market getting more women investors
Women are steadily becoming aware of economic importance on a larger scale, and therefore a large number of women in India are trying to find out ways to become financially independent. But if you look at the Indian crypto market, then you will see that the number of women investors and traders are very few. According to the largest cryptocurrency platform in India, CoinSwitch Kuber, the number of female users is only 15% of their total user base.
Reasons of women avoiding the crypto market
There are several reasons why the Indian cryptocurrency market is dominated by male users. Cryptocurrency is fundamentally an amalgamation of two separate fields, technology and finance.
The representation of women in both fields are minimal in number and often overlooked by people. Some people also think that this field is solely for men, and they should venture into this unstable market. Another theory suggests that when it comes to investments, women tend to prefer stable investments and potentially avoid any kind of financial risk. As we already know how volatile the crypto market is, women tend to entirely avoid investing in digital currencies, fearing the loss of their money.
But it does not stop here. Female investors have confessed in a research study that they lack familiarity with the digital currency market. They do not find or get the exposure they need to invest in this new type of asset. But women are interested in those investments which are understandable to them.
Women are taking an active role in the crypto world
The year 2020 has been great for the Indian crypto market. After the Supreme Court’s declaration, the Reserve Bank of India had to lift the ban it imposed on digital currency. After getting much-needed attention from people in general, women investors started to trade and invest in the crypto market. This optimal growth of women users in the CoinSwitch Kuber platform is the witness to that. According to the platform, it has experienced a 1000% increase when it comes to the registration of women users.
Women have started to show their interest in the new asset class. Research conducted by Grayscale suggested that if the women possess enough knowledge about a particular asset class, they make their investment decision solely based on their knowledge. Also, 93% of women have stated that they will start investing in cryptocurrencies if they get educated on the subject. While it is true that the number of women in the current Indian crypto market is relatively small compared to the opposite gender nevertheless, women have started actively participating in the crypto market.