Home News Bitcoin Despite Being The Minority, Indian Women Invest More in Cryptocurrencies, Says Study

Despite Being The Minority, Indian Women Invest More in Cryptocurrencies, Says Study

June 27, 2018 17:20
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In a first of its kind survey, it has emerged that Indian women traders invest more in cryptocurrency trading, as compared to their male counterparts.

The survey conducted by cryptocurrency exchange, BuyUCoin, said that Indian women spend close to more than Rs.1,40,000, whereas men spend Rs.70,000. The figures were arrived to, after a study was conducted in Tier 1 and Tier 2 cities, across India. The survey examined around 60,000 cryptocurrency investors from across the country.

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Cities such as New Delhi/ NCR (National Capital Region), Mumbai, Bengaluru, Hyderabad, Pune, Ahmedabad and more. This study precedes the release of the pending report on cryptocurrency by the Committee formed by the Government of India and the judicial decision pending at the Supreme Court of India.

The data released by the exchange reveals that New Delhi/ NCR tops the list amongst other cities in most number of active cryptocurrency users in India. New Delhi / NCR saw 22.03% of total users of which 91.2% of users are male and 8.8% are female.

Whereas as Mumbai stands at second position with 14.42% active users of which 93.4% are male and 6.6% are female. Bengaluru grabs the third position standing at 13.91% of which 93.2% of the users are male and 6.8% are female. Hyderabad and Pune registered 9.06% and 8.09% respectively. Although women invest more, the percentage of males and females presently trading in cryptocurrency in India is 93.28% and 6.72% respectively.

Shivam Thakral, CEO and co-Founder, BuyUcoin said, “We wanted to conduct a detailed study to ascertain new policies and strategies that will drive this industry ahead. While conducting this study we acquired some interesting facts such as the service sector is taking exceptional interest in trading of cryptocurrency and females, in particular, showed great potential in leading this industry forward, although these are just primarily results of this study.”

The surprising aspect of this survey is the age at which people begin venturing into this space. For males, the age is 30 and for women it is 40. Bengaluru females recorded an average investment of more than Rs. 2,00,000.

Crypto-News India had earlier reported that bitcoin prices had hit a seven month low, with the latest price being close to $6,800, globally. Although the figures in the survey come as a surprise, it is nonetheless heartening to know more people are continuing to hold their crypto assets instead of panic-selling.

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