Do Girls Invest in Crypto?
India is ranked second in terms of cryptocurrency
adoption, with the majority of crypto investors being young. Women, on the
other hand, make up a minor part of this rising population. According to Mint,
while there was an increase in female crypto investors at the start of 2021,
the trend appears to have slowed gradually.
On a national and global scale, there are fewer
investors.
According to CoinDCX, an Indian crypto exchange, only
15% of present investors are women. The bulk of female crypto investors is from
metro cities such as Delhi, Bengaluru, Hyderabad, Pune, and Lucknow.
According to data from other crypto exchanges, women
make up a small percentage of investors. Unocoin and Coinswitch Kuber also
stated that women account for only 15% of their investors. According to Bitbns
and CrossTower (both started three months ago), barely 10% of women investors
are on their platforms as of December 2021.
On a worldwide scale, the tendency is similar. Women
make up a modest share of all cryptocurrency investors.
According to a 2021 survey of over 2,000 Australians
conducted by the Independent Reserve's Cryptocurrency Index (IRCI), the number
of women who currently or have previously invested in cryptocurrencies has
increased but remains less than one-fourth of all—the number has increased from
10.3 per cent in 2020 to 20% in 2021. According to research done by CNBC and
Acorn, an investing platform, the number of female crypto investors in the
United States is significantly lower than the number of male investors.
Risk-aware Nature
Several studies on investment behaviour have
discovered that women take longer to research their options and are more
risk-averse or risk-aware than men. Age is also a factor. Young women investors
in India, for example, have higher risk appetites than older investors,
according to a survey conducted by digital platform Grow among 28,000 women.
Those aged 18-25 are three times more likely to choose a high-risk, high-return
asset class like stocks over traditional investment options like fixed
deposits.
Priya Ratnam, a 34-year-old Bengaluru-based woman
cryptocurrency investor and CEO of Avisa Games Guild, a gaming firm, believes
there are few female role models for crypto investors, "which dampens
enthusiasm."
While men dominate bitcoin investing, according to
Ratnam, the risks are the same for men and women alike. There is a lot of instability
and security risk with cryptocurrency. There are several withdrawal and deposit
delays, and operational concerns, which can trouble investors, she says.
Cryptocurrencies are a new asset class that requires a
great deal of knowledge before one can make an informed selection. Furthermore,
until the government draughts a crypto regulation bill, there has been growing worried
among Indian crypto investors. Investing a large amount of time in crypto
research can be challenging for women as they have a lot of family
responsibilities as well, she says. It's been a roller-coaster trip for Ratnam,
she says. Be sure to buckle up for a smooth ride. Women plan and manage things
strategically.
Elena Nair, a Certified Financial Education Instructor
based in the United States, writes on femmemoney.com that women trade less
frequently than men (in all investment options). "Remembering that you're
in it for the long haul is crucial, and women are better in the trade because
they do it less frequently," she adds.
Research, Safety Come First
Investing fundamentals are consistent across asset
classes and genders. Before investing in anything, do your homework. Investing
in crypto assets demands an exhaustive understanding of blockchain technology
and related tokens. Both men and women who are interested in Web 3.0 may choose
to explore crypto assets as part of their overall investment strategy. Do complete
research before investing.
While there are no explicit incentives for women to
invest in cryptocurrencies, some crypto exchanges have undertaken campaigns to
educate female investors about the new digital world. "Through our
investor education activities, we will continue to induct more women into the
financial ecosystem and aid them in making informed decisions," says
Sharan Nair, Coinswitch Kuber's chief business officer.