scorecardresearchInternational Women’s Day: The crypto market sees an uptick in women investors;

International Women’s Day: The crypto market sees an uptick in women investors; Survey reveals

Updated: 08 Mar 2023, 08:28 AM IST
TL;DR.

The survey conducted by WazirX on Women's Day revealed that women are increasingly investing in virtual digital assets, with financial independence being the key motivating factor.

Women investors want more social media information, news articles, and awareness programmes, in order to boost the level of knowledge in Crypto.

Women investors want more social media information, news articles, and awareness programmes, in order to boost the level of knowledge in Crypto.

Women in India are no longer shying away from the world of virtual digital assets. From cryptocurrency to blockchain-based investments, more and more female investors are entering the fray - emboldened by the low entry barriers, improved access and inclusion that these new markets offer.

WazirX, a cryptocurrency exchange based in India, conducted a survey close to the occasion of Women’s Day to understand the pulse of female investors in Crypto. The survey received some insightful data about the behavior of women and their interaction with virtual digital assets.

From the 400 female Crypto holders surveyed by WazirX, 54% belonged to the age group of 30-45, followed by 31% in the age group of 18-30, and 14% in the age group of 45-60. 25% of the respondents had owned virtual digital assets for more than 3 years. The majority of them were from Maharashtra (28.6%), Uttar Pradesh (12.1%), Tamil Nadu (8.8%) and Karnataka (7.7%).

What did the survey reveal?

Interestingly, during the ongoing bear market, almost 20% of women invested in Crypto in the last 6-12 months. Most of these new women investors were from Maharashtra, Tamil Nadu and Karnataka; while 7.8% were from Gujarat and 5.2% from Rajasthan.

The survey also revealed that financial independence was the key motivating factor behind the investment decisions of women, followed by the probability of high returns and potential utility. Interestingly, 45% of women in the age group of 45-60, 41% in the age group of 18-30 and 34% of women between the ages 30-45 invested in Crypto for financial independence.

When it comes to industry knowledge and perception, 72% of the respondents invested in Crypto solely at their own decision. Out of the remaining 28%, 51% were influenced by their partners, whereas 32% were influenced by news articles, social media, market trends, etc.

Respondents in Maharashtra, Uttar Pradesh, Tamil Nadu, Delhi, Karnataka and West Bengal have the highest number of investors who have invested in Crypto on their own decision, as well as done sufficient research on the assets. In fact, 65% of the 18-30-year-old female investor group had done the most research before investing.

53.5% of the respondents believed that with incoming regulations the industry will become more stable, while 32% felt that the imposition of tax laws on Crypto has impacted their engagement with virtual digital assets. The most popular category of tokens according to the respondents were AI tokens, Meme coins, DeFi tokens, NFTs and metaverse tokens.

Commenting on the same, Rajagopal Menon, Vice President of WazirX said, "WazirX's survey on Women's Day highlights the increasing inclination of women toward crypto investments. With a rise in trading volume and combined crypto worth, women are now investing in virtual digital assets more than ever. Our survey shows that women investors on our platform have increased by 3.3% over the past year and they now hold a combined worth of Rs. 354.9 crores ($42.990.10) in virtual digital assets."

"With financial independence being the key motivating factor, women are opting for cryptocurrencies. We are thrilled to see more women joining the crypto space and are committed to fostering an environment that is welcoming and supportive for all investors," he added.

Overall, the survey revealed that women in India are keen on getting exposure to virtual digital assets, and are making an impact in financial services with an asset class that is easy to access and use, secure, and sustainable. Women investors want more social media information, news articles, and awareness programmes, in order to boost the level of knowledge in Crypto.

Article
International Women’s Day: Female Investors in crypto market
First Published: 08 Mar 2023, 08:28 AM IST