Yumna Ahmad, a communications specialist based in Delhi, is one of several new-age women who are warming up to investing in the cryptocurrency field, which has traditionally been dominated by men. But what is driving this uptick in recent years?
Although in a better position, they are still at a disadvantage.
Due to their inherent patient and pragmatic dispositions, studies suggest that women are better positioned than men when it comes to saving and investing. According to GrayScale’s Bitcoin Investor Study 2020, about 47 percent of the female investors surveyed were interested in investing in bitcoin, up from 43 percent in 2019.
More reassuringly, given the asset class’s solid track record and success, roughly 66 percent of female investors said they would consider investing in it.
Today’s cryptocurrency prices on July 17: Bitcoin is down, with Polkadot seeing the greatest drop at -9.21%.
The crypto industry is at a crossroads.
Women are more robust and astute when it comes to money management, according to an ET Money report from 2021. Over the last four years, women investors outperformed their male counterparts by as much as 10%, according to the report. In order to make the most out of their investments, women took advantage of market corrections, asset allocations, and SIP (Systematic Investment Plan) continuations, according to the report. ELSS (Equity Linked Savings Scheme) accounts for an average of 15% of a female investor’s portfolio, compared to only 12% of a male investor’s. This is a powerful combination for tax savings and wealth growth.
However, the stark discrepancy is immediately apparent, as only 22.3 percent of Indian women participate in the labour market, according to the World Economic Forum’s Global Gender Gap report 2021. In the Economic Participation and Opportunity sub-index of the evaluation, India has dropped 28 places to 141 out of 156 countries covered by this measure, putting it in a pitiful position at 151.
That does not, however, imply complacency or a lack of interest in achieving financial wellness among women. BitBns Co-Founder Gaurav Dahake emphasised the growing popularity of new-age platforms that make investment accessible and straightforward.
“Women make up 20% of our investor base at the moment. Interestingly, more than half of them are investors who are interested in a variety of financial items rather than just trading and cryptocurrencies,” he added.
Adapting to the situation
More and more women are embracing financial independence and assertiveness when it comes to taking care of their lives, with over 1.5 lakh active cryptocurrency investors holding Rs 15,000 crore.
Shradha Nanchahil, a Ludhiana-based trader and mentor, also discusses how more women are enrolling in cryptocurrency courses. “Right now, I’m training four ladies in this area, but there’s a lot of buzz about it. Women, in my opinion, make better traders because of their emotional control, patience, consistency, and persistence,” she explained.
Women are focusing their sights on a variety of investing opportunities, which has resulted in a cryptocurrency influx. According to Edul Patel, Mudrex’s CEO and Co-Founder, the company’s growth has been spectacular. When it comes to trading, Patel points out the differences between males and women’s approaches. Women are more focused on the long-term perspective and automating their bitcoin journey than men are on intraday markets, high leverage, and speculative trading.
“Women traders account for about 15% of our clients. And we’ve seen a significant increase in the number of women traders automating their cryptocurrency trading in the last year, with over 40% growth,” he said.
Another cryptocurrency site, ZebPay, confirmed that women account for 13% of all investors on their platform, with the number of women investors increasing by about 113 percent in the latest quarter (January-March 2021). According to their estimations, women account for 13% of all investors on our platform.
Mr. Avinash Shekhar, ZebPay’s Co-CEO, breaks down the demographics. “Around 10.27 percent of our female customers are between the ages of 18 and 25, with the greatest percentage (46.40 percent) being between the ages of 26 and 35. He noted that 42 percent of women are over 35 years old, indicating a broad female composition.
And, contrary to popular assumption, women are not solely concerned with traditional, safe, and secure investment opportunities. While most women on CoinDCX are conservative and stick to huge capitalization and popular options, a substantial fraction is exploring with alt-coins like Matic, Enjin, Atom, and others, according to a survey.
“We’ve observed a rise in involvement from places like Indore, Bhopal, Shimla, Kochi, Aligarh, and Patna, in addition to metro cities,” according to a Coin DCX representative. Women traders and investors account for 15% of our entire audience, with the number of women on our platform doubling year after year.”