More Women Are Investing in Cryptocurrency Than Men, Finds Survey
Add to it, women investors outperformed their male counterparts, earning 10% more returns over the last four years.
Women are better at managing money than men, suggests a recent survey conducted by The Economic Times. The survey further adds women investors outperformed their male counterparts, earning 10 percent more returns over the last four years.
Gaurav Dahake, Co-founder, BitBns, in a statement to Economic Times said that at least 20 percent of their investor base are women. "More than half of them are keenly exploring multiple investment products rather than just indulging in trading and cryptocurrency," he added.
Another study conducted by Grayscale points out that women are willing to make investment decisions based on the education provided in the asset class.
Over 1000 Percent Rise in Women Crypto Investors
Popular crypto exchange, WazirX has witnessed 1,355 percent rise in women investors since 2020. The platform said that 63 percent of women traders are less than 34 years old and about 82 percent are less than 44 years old in India.
Another crypto exchange BuyUcoin, which has about four lakh users in India, witnessed 1,040 percent rise in the number of women investors in the same period.
Other popular exchanges in India have an overall percentage of women investors in the range of 15-20 percent.
Interestingly, more women investors are trading in cryptocurrency than men. Over the last one year, new women investors on Indian crypto platforms has surged by nearly 1,400 percent, compared to new male investors.
The crypto-exchanges report that this rise has come after the Supreme Court of India had overturned an April 2018 ban on cryptocurrency payments by the Reserve Bank of India (RBI).
The data also indicates that apart from bitcoin, women investors invest in ethereum, ripple, tether and cardano.
A Coin DCX spokesperson in statement said, “We’ve seen a surge in participation from markets like Indore, Bhopal, Shimla, Kochi, Aligarh, Patna, in addition to metro cities. Women investors and traders constitute 15 percent of our total audience base, with the number of women on our platform doubling year-on-year."
Why Are Women Better Crypto Investors?
Several studies have reported that women are far better placed than men when it comes to saving and investing.
A study conducted by Fidelity Investments suggests that women hold about 8.3 percent of their income in savings, while men save only 7.9 percent of their income.
Studies show that women spend more time researching their investment choices.
The study by Fidelity also points out that women take on less risk than men when it comes to investing, but aren't necessarily risk averse. This means that they simply take appropriate levels of risk with their investments than men.
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