Female investors explode as interest grows
Indian Women’s Cryptocurrency: As crypto finds new meaning, the appeal has grown in favor of its relevance to the rapidly changing and rapidly transforming global market. Even within its macrocosm, crypto is reforming with the massive entry of women into a previously predominantly male space.
The fact that more women are taking the reins of finance independently is clearly evident with the rise of the crypto class, especially in the states of Maharashtra, Delhi, Tamil Nadu and Karnataka. Bitcoin, of course, remains the most popular choice among women and the rest of the market. But research shows that women are also increasingly exploring investment opportunities in Ethereum, Cardano, and Ripple.
In the past year alone, women investing in the cryptocurrency exchange have increased by 1400% compared to male investors., the data showed. This big spin in all crypto assets is attributed to the 2020 Supreme Court ruling. On March 4, the Supreme Court overturned the Reserve Bank of India’s ban on cryptocurrency. Women in the crypto market then made up only a small share of the 15% comings and goings.
But even before the 2020 reversal of the RBI ban, some research suggested that Indian women were walking alongside their male counterparts in the crypto space. A 2018 survey by BuyUcoin, a crypto exchange wallet, cited by BitcoinA found that Indian women were “more bullish on crypto than men” and tended to invest twice as much.
“Women, in particular, have shown great potential to advance this industry”, Shivam Thakral, said the CEO of BuyUcoin.
Some research also suggests that the pandemic has been a kind of leveling-off, where sitting behind screens has made men and women on an equal footing to jump into the crypto game.
The positive turn in the growing favor of women in crypto, however, is not only centered in India and extends beyond more robust economies like the United States, where the gender balance and finance has fewer cracks.
Christine Brun, COO of Robinhood Crypto, said that one in four customers trading crypto through April 2021 on their platform was female. “Women should have an equal seat at the table when it comes to investing in cryptocurrency,She was quoted as saying in the Wall Street newspaper.A
The eToro Group trading platform also nodded to the trend by saying that female crypto traders have grown to around 20% of US users. Webull Financial LLC intervenes with 21% of traders being female on their platform.
“When it comes to investing in crypto, women tend to choose an asset class that has very strong fundamentals. The Ethereum blockchain has very strong fundamentals and many projects around the world are using it to power their infrastructure. In 2021, we expect nearly five times as many female investors, ”Thakral said in bright mint.
Interest of Indian Women in Cryptocurrency: What’s Behind the Rise
In India, the investment platform Groww conducted and published a survey ahead of Women’s Day in March 2021 with more than 28,000 responses from women of all age groups. The survey yielded interesting results which showed that older women tended to turn to more traditional investments such as real estate, while younger women tended to ‘store’. 6% of women earning more than Rs 30 lakh per year had invested in crypto.
Women in the 18 to 25 age group were “three times more likely to choose a high-risk, high-yield asset class like stocks” compared to term deposit options, according to the survey.
Marked change in awareness levels and risk appetite of women, especially younger women who are open to exploring avenues for wealth generation in capital markets, regardless of age and income: survey
Tarana Singhal, a Delhi-based audit assistant in her 20s who is interested in crypto, explains why she stepped into the pool. “Cryptocurrency is a digital asset, which is decentralized. This essentially means that no central authority issues it. As the crypto craze engulfed the world, I wanted to be a part of it too. Call it FOMO (fear of missing out), but I was very interested in what they say is “buy the dip”. After some research, I decided to stay away from coins that fluctuate based on tweets.
It refers to Dogecoin, a “crypto joke” created in 2013 based on the doge meme. Although Dogecoin has remained low for several years after its inception, its value has recently skyrocketed, with tech guru Elon Musk casually mentioning it on social media. Read about it here.
“I focused more on blockchains that had a concrete basis, like Ethereum and Cardano. I invested a very small amount that I wouldn’t be very sad about even if I were to lose it, ”adds Singhal.
Crypto risks and tips: here’s what the experts say
One of the biggest obstacles on the way to a bigger and more explosive blockchain and crypto boom is the risk of loss that obscures it. The lack of easy access to verified data, according to users, is hard to find. Especially when the penetration of technology is much lower among women in India than among men.
In contrast, those who use crypto see it as a malleable, dynamic and welcoming entity. With easier and smarter restrictions than its senior and tougher counterparts, crypto’s USP lies in its youthful appeal. The common investor balances stocks. The doors are open – get in and out at your leisure (and at your own risk).
What can help bridge the knowledge-to-action gap? Can increased data lead to increased interest?
In 2017, Jincy Samuel, Coinsecure co-founder said SheThePeople, that people entering the blockchain-Bitcoin space in India often view the asset as a long-term investment. But the main risk around this exchange is its volatility. “It is imperative for an investor wishing to invest in Bitcoin or any other cryptocurrency to understand what they are investing in. Most investments involve risk and one should be aware of this before making an investment decision. It’s also important not to put all of your eggs in one basket. Distribute them judiciously ”,She advises.
Heloise Greeff, a well-known figure in the crypto space, invests on the basis of solid technology, not product. “I’m not very invested in driverless cars or any of those hot trends right now. What I think about the most is what the market will look like for this driver who now has more free time ”, InitiatedA quotes his word.
As the top ranked female investor on eToro, Greeff is cited by co-users, making her the most copied trader on the platform. For anyone looking for advice, her focus is more on Eretheum than Bitcoin, she believes in small wins over high risk, patiently analyzes trends in cultural data, and does her homework.