Over 30% women investors in cryptocurrencies hail from metros: CoinDCX  |  Photo Credit: PTI
Most Indian women investors in cryptocurrencies hail from metro cities such as Mumbai, Delhi and Chennai, according to data from cryptocurrency exchange CoinDCX.
It said Maharashtra, Karnataka, Tamil Nadu and Telangana were the top states where digital currencies are popular among women investors, according to an internal study by the exchange.
The company stated that in the year 2020, 15% of its total investor base were women. While in the year 2021, the platform witnessed further traction and currently, more than 20% of its total investors are women. It also stated that in 2021, the company witnessed a 3X jump in its new women investors compared to the November-December period.
Interestingly, the data suggested that almost 60% of women investors on its platform belonged to the age group of 18-34 years. It further stated that Bitcoin (BTC) is the most preferred cryptocurrency asset, with more than 15% women investors trading in BTC pairs in 2021 (till date). The other top crypto assets, that women investors took keen interest in included Ethereum, Tether (USDT), Ripple (XRP) and Cardano (ADA) in that order.
“Cryptocurrencies have been perceived as incredibly complex. However, our data shows that millennial women are embracing this technology and look at this as a new way of attaining financial independence. While the larger tech world is male-dominated, crypto being a new tech gives women the opportunity to take charge and lead it. Additionally, the decentralized nature of the industry translates to an even playing field, which welcomes skilled players, irrespective of gender. Owing to simple user interface and the rising popularity of cryptocurrency as an investment class, we are extremely bullish about increased participation from women investors going forward too,” said Sumit Gupta, Co-Founder & CEO, CoinDCX in a statement.
In yet another interesting observation the company stated that its women investors preferred to invest in fractional amounts in Bitcoin — in the multiples of Rs. 500, Rs. 1,000 and Rs. 10,000, instead of buying a whole coin. The average ticket size among its women investors ranged between Rs. 8,000-10,000.