WOMEN INVESTORS IN THE INDIAN CRYPTO MARKET

In March of 2020, when the Supreme Court of India overturned RBI’s ban on cryptocurrency payments, women investors took notice. There was a definite surge of women crypto investors across the best cryptocurrency exchanges. Why this change in investor behaviour?

In what was considered a man’s domain, the cryptoverse has now caught the eye of the bold, informed woman investor. Cryptocurrency, a combination of technology and finance, are fields where women are often underrepresented. Crypto’s perception of being risky, is another reason why women probably shied away from investing in it initially. However, women, known to save more and invest with a long term view in mind, are captivated by this new asset class. Many believe that women have great potential to lead this industry forward with them being more astute with their money management skills. Not only bitcoins, but women have shown interest in Ethereum, Cardano, and Ripple as well. Some women are even interested in investing in Dogecoin, a meme-based cryptocurrency.

What caused the rise in women making crypto investments?

Women are buying bitcoin not because of the bitcoin price in India, but because there is a definite shift in the awareness level and the amount of risk these women crypto investors are willing to take on. This is more true for younger women, who are keener on exploring different wealth-generating avenues, regardless of their age and income. With bitcoins and blockchains being the buzzword across the world, women are not going to be left far behind in the new age of investing. The digitisation and decentralisation of a currency have a certain allure for the younger generation, an appeal that no one can refuse. 

The rise in income level of women also attributes to a rise in their crypto investments. A study was done by an online mutual fund platform, Groww, which stated that 6% of women earning over Rs. 30 lakhs per annum are active investors in cryptocurrencies. Whereas, only 4% of women earning Rs. 10 lakhs or less per annum, have invested in cryptocurrencies. 

What do the numbers say?

Zebpay, one of India’s leading cryptocurrency platforms, saw a 113% rise in women crypto investors in the first quarter of 2021. As per the estimates, women investors comprise 13% of their total investors. 

What do we know about these crypto investors?

According to Zebpay, the demographics show that 10.27% of these women investors fall in the 18-25 year age bracket, while 46.40% are in the 26-35 age group. 42% of the women are 35 years and above. From this, we can infer that women of all ages are educating themselves to buy bitcoins and becoming savant crypto investors.

In terms of geographies, women investors from urban cities are more inclined to buy bitcoins, mainly from Maharashtra, Tamil Nadu, Karnataka and Delhi. 

Why are crypto investments good for women?

We have established that women make good crypto investors, but how are crypto investments good for them? They can be extremely liberating for women who do not have access to a bank account. All they need is a smartphone and a strong internet connection to get started. It doesn’t require any approval or authorisation, therefore playing an integral role in bridging the gender gap and empowering us all to move towards financial inclusion. 

Women are slowly but surely warming up to the idea of making crypto investments. Being inherently patient and pragmatic, women have observed the rise of the cryptocurrency, absorbed the learnings and have taken an educated step into the cryptoverse once convinced by the strong track record and performance of cryptocurrencies the world over.