Maharashtra Has Most Female Crypto Investors, Haryana Leads Transaction Volume, WazirX Finds

Approximately 63 million women hold cryptocurrencies across the globe, out of which roughly 10 per cent come from India.

A notable trend observed from April 2023 to March 2024 is the remarkable surge in trading volume contributed by female investors, marking a staggering 90 per cent increase.

Source : Getty

A recent study by the Indian crypto platform WazirX sheds light on the increasing participation and impact of female investors. Over the past year, WazirX has closely monitored the engagement of female investors with virtual digital assets (VDAs) on its platform, providing noteworthy insights into their evolving role in the crypto sphere.

State Of Female Crypto Investors In India

According to data analysis, India ranks third globally in terms of female crypto ownership, with approximately 63 million women holding cryptocurrencies, accounting for roughly 10 per cent of the female population of the country. This revelation comes from insights provided by financial exchange Forex Suggests, underlining the growing interest and involvement of Indian women in the crypto market.

Trends Noted By WazirX

A notable trend observed from April 2023 to March 2024 is the remarkable surge in trading volume contributed by female investors, marking a staggering 90 per cent increase in the last three months alone compared to the preceding quarter. Furthermore, a substantial 75 per cent of female investors have consistently traded in high market cap tokens, showcasing their confidence and active participation in diverse crypto assets.

Demographically, the data highlights that the majority of female investors, approximately 70 per cent, fall within the age bracket of 20 to 39 years old, indicating a significant presence of young women in the crypto space. Regional analysis reveals Maharashtra as the frontrunner, boasting the highest number of female investors and new user sign-ups, while Haryana stands out for contributing the highest transaction volume by female investors.

In a move towards fostering inclusivity, WazirX has distributed 9 per cent of tokens through airdrops specifically to women, recognising their growing influence and contribution to the crypto community. Among the array of cryptocurrencies, tokens like Dogecoin, Ethereum, and Bitcoin emerge as favourites among female investors, reflecting their diversified investment strategies and preferences.

Commenting on these findings, Rajagopal Menon, Vice President of WazirX, expressed optimism about the evolving landscape of female participation in the crypto market. "We are lucky to be a part of this movement at this pivotal moment when the next phase of financial inclusion and independence is being marked by equitable access to resources. The investment patterns of women indicate that they are well-informed and savvy. We hope more women investors in India follow suit," remarked Menon.

As the crypto market continues to evolve, the growing presence of female investors signifies a broader trend towards inclusivity and diversity, reshaping the contours of the financial landscape in India.

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.