Most financial investing, including Bitcoin, is dominated by men. In India, it is very different as women are investing more money in cryptocurrencies compared to their male counterparts.
Indian Women Embrace Bitcoin
Recent research by BuyUcoin paints an interesting future regarding Indian cryptocurrency investments. The industry has seen tremendous growth, mainly thanks to women. More specifically, female investors spend twice as much money as compared to their male counterparts. The average investment amount among female speculators is nearly $2,000. BuyUCoin CEO Shivam Thakral comments:
Usually, woman investors who are buying or trading are over 40 years of age. Therefore, typically these mature investors are able to put in more money. On the other hand, more men start investing at an early age with the average age for this investor group being 30.
This positive trend comes as a big surprise among Bitcoin enthusiasts. Although women are still a minority group, their appetite for volatility seems to be much higher. Even so, the vast majority of cryptocurrency investors are still men. Many smaller calculated investments all contribute to vast amounts of money pouring into Bitcoin.
Uneasy Regulatory Situation Remains
These investment statistics come at a curious time. Cryptocurrency has been a topic of debate among Indian regulators. The Reserve Bank of India told lenders to shut down bank accounts associated with cryptocurrency firms. This has had a nefast effect on the number of active cryptocurrency traders.
That regulatory stance by the RBI may not remain in place for long. Indian regulators are closing in on finalizing draft regulations for the cryptocurrency industry. It is expected more details will be made available in the next two weeks. Furthermore, the exchanges have filed a lawsuit against RBI regarding their harsh stance. That court case will enter its next stages in early July.
Regardless of the outcome, it seems evident women will continue to be interested in Bitcoin. India is a very different financial culture compared to other countries. Bitcoin is playing an integral part in this nation’s economy already, despite the opposition by the RBI. Depending on the regulatory draft, that aspect may become a lot clearer moving forward.
What do you think about women in India investing more in Bitcoin than men? Let us know in the comments below.
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