Financial Independence Key Motivation For Female Crypto Investors, Average Value Held By Women More Than Men: Survey

Bitcoin (BTC) was found to be the most popular among women investors, followed by Tether (USDT), WazirX token (WRX),  Ethereum (ETH), Shiba Inu (SHIB), and Dogecoin (DOGE). 

Financial independence appears to be the prime motivating factor for women investors in crypto, followed by the standard probability of high returns and potential utility, a recent study by homegrown crypto exchange WazriX showed. Despite market downturns, cryptocurrency has established itself as an asset of interest among investors, and now, it appears that Indian women are keen crypto investors as well. 

As per the WazirX survey, trading volume by female users has increased 3.3 per cent in a year, growing from 15.27 per cent in 2021 to 18.57 per cent last year. Combined, women investors, holds an amount of Rs 354.9 crores in their wallets. 

Interestingly, Rs 9,650 is the average price of cryptocurrencies held by individual female users on WazirX, which is nearly 30 per cent more than the average value held by male users (Rs 6,676).

When it comes to preference of tokens, Bitcoin (BTC) understandably was the most popular among women investors, followed by Tether (USDT), WazirX token (WRX),  Ethereum (ETH), Shiba Inu (SHIB), and Dogecoin (DOGE).

Even during the current bear market, nearly 20 per cent of women users were found to continue investing in crypto. "Maharashtra, Tamil Nadu, and Karnataka retained top spots while 7.8 per cent of the new women investors were from Gujarat, and 5.2 per cent from Rajasthan," WazirX noted. "Women who had more than 30 per cent of their assets allocated to Crypto were majorly in the age group of 30-45, followed by the age group of 18-30."

In terms of purpose, as mentioned earlier, financial independence was a key driving factor, followed by utility and chances of high returns. Of the women surveyed, 25 per cent feel that investing in cryptocurrency earns them social recognition for exploring new financial assets. Meanwhile, 15 per cent believe it positions them as financially knowledgeable, and 10 per cent feel it conveys knowledge of the latest technological advancements.

About 72 per cent of the respondents reported investing in cryptocurrency based solely on their own decision. Among the respondents who were motivated to purchase virtual digital assets due to external factors, 51 per cent cited their partners as the influencing factor, while 32 per cent pointed to news articles, social media, market trends, and other similar factors.

Furthermore, in another similar survey conducted by BuyUCoin, the crypto exchange found that over a quarter of its user base are women. On the platform, the top 5 professions of women investors are as follows: 30 per cent are engineers and IT professionals, while 15 per cent are from the finance industry. Another 15 per cent are either self-employed or involved in real estate. Education professionals and homemakers constitute another 15 per cent. About 5 per cent of women investors are content creators.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.