Times have changed, and the world has changed with more modernity and advanced technologies. There has also been a change in the pattern of how women save their money and invest it for future wealth creation. In recent times, women are taking on more challenging tasks, they do not shy away from taking risks when it comes to investments. One such risk would be investing in cryptocurrencies as the market is volatile and highly sensitive. A study shows that despite its unpredictable trend, female investors are more likely to own virtual digital assets than male investors.
According to WazirX The survey conducted on the occasion of Women’s Day showed a 3.3% year-on-year increase in trading volumes by women users on its platform.
Trading volume in crypto assets by women investors increased from 15.27% in 2021 to 18.57% in 2022, despite the lack of liquidity in the market this year. The year 2022 has been witness to the collapse, liquidation, bankruptcy and illiquidity of major stablecoins. cryptocurrency Due to macroeconomic uncertainties.
Not only that, the WazirX survey shows that the average value of crypto per female user on the platform is 9,650, which is almost 30% higher than the average value of crypto per male user, which is 6,676.
That being said, women investors are now adding crypto value. 354.9 crores in their balance.
Furthermore, the survey highlights that the highest number of dropouts among women in the last two years came from the 25 – 35 age group. It was 51.02% and 44.28% in 2021 and 2022 respectively. There are female users between 36 – 50 with 29.98% and 32.54% respectively in 2021 and 2022.
According to WazirX, it has been observed over time that crypto has been preferred by women over traditional assets ever since its adoption began. With lower entry barriers, better access and inclusion for users, women find it easier to invest in virtual digital assets.
Bitcoin was the most preferred cryptocurrency among women investors with a weighting of 21.6%. But Tether emerged as the second most popular digital asset among women with 21% weightage in total volume. The others were — WazirX (16.4%), Ethereum (14.3%), Shibu Inu (13.6%), and Dogecoin (13.1%).
Women who had more than 30% of their wealth allocated to cryptocurrencies were predominantly in the 30-45 age group, followed by the 18-30 age group. Furthermore, 24% of women with more than 30% of their assets in crypto have been investing for more than 3 years.
According to the survey, financial freedom would be among the top reasons to invest in cryptocurrencies. 45% of women aged 45-60, 41% aged 18-30 and 34% aged 30-45 invest in crypto for financial independence. It has been a trend globally where women have chosen crypto for personal wealth creation and portfolio diversification. While 19% of respondents invested in crypto due to the combined factors of high returns and potential utility.
While 25% of women feel they are socially appreciated for trying new forms of financial assets, as with crypto investing. Whereas, 15% feel that they are considered financially savvy. and 10% feel they are perceived as being in the know on the latest technological developments.
Of the respondents who were motivated to buy virtual digital assets by external factors — 51% were influenced by their partners, while 32% were influenced by news articles, social media, market trends, etc.
Notably, Maharashtra, Uttar Pradesh, Tamil Nadu, Delhi, Karnataka, and West Bengal have the highest number of respondents who made their decision to invest in crypto, as well as do substantial research on properties.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.