Recent surveys of the Indian market show that the women of India are less risk-averse than men when it comes to investing in digital currencies.
According to data from a survey done by BuyUcoin, an Indian cryptocurrency exchange, Indian women usually invest the equivalent of $2,000 in a variety of cryptocurrencies. This is double the amount that men invest.
In a statement, Shivam Thakral, BuyUcoin's CEO said
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
However, despite the higher average that Indian women invest, there are still more men putting their money into bitcoin. According to the survey, female investors did not account for 10 percent of the investing population. The survey showed that the highest amount of investment came from the nation’s capital Delhi with 8.8 percent of the total investment. There were some regions where men accounted for more than 90 percent in bitcoin investment.
Majority Of Bitcoin Investment From Cities
The Indian regions that have contributed the most to bitcoin investments are those that are in the majorly developed areas. This includes Mumbai, Hyderabad, Chennai, Ahmedabad, New Delhi, Bengaluru, Pune, and Kolkata. All of these have a population of highly-educated professionals, who are exactly the sort of demographic that bitcoin works well with. This is why 75% of bitcoin investments come from these areas.
Bitcoin investment from rural and less-developed areas also sees a contribution but only makes up 25% of the total cryptocurrency market investment. The cryptocurrency market in India has witnessed a decline in recent months mainly due to the crackdown of the Reserve Bank of India (RBI). The central bank directed all of the major banks in the country to stop processing transactions that have ties to the cryptocurrency industry. This has seriously impacted India’s digital currency industry and has caused a negative impact on trading.
The proportion of active traders has dropped after the RBI order and the Delhi region now has only 22.09 percent of active traders left. Kolkata was the worst of the lot and now has just three percent left.
The slowdown has not dimmed the optimism of bitcoin exchanges. The department of economic affairs has announced that they are making plans for cryptocurrency regulation, which should open the way for legitimate trades. Additionally, they hope to mount a legal challenge against the ban, which should be up for a hearing on July 3.