Women investors are increasingly turning to cryptocurrencies as an investment option, despite the market’s volatility. According to a recent WazirX survey, female trading volume on its platform increased by 3.3% in a year, with the trading volume in crypto assets by female investors rising from 15.27% in 2021 to 18.57% in 2022, despite the year bringing in a liquidity crunch in the market. The survey also showed that women held more virtual digital assets than men, with the average value of crypto held per female user on the platform being ₹9,650, which is almost 30% more than the average value held by male users.
Age Groups and Preferences of Female Investors
The highest number of sign-ups among females came from the age group of 25-35 in the last two years. The survey showed that Bitcoin was the most loved cryptocurrency among female investors with a weightage of 21.6%, while Tether with 21% weightage in total volumes emerged as the second most popular digital asset among females. Other cryptocurrencies that female investors preferred were WazirX (16.4%), Ethereum (14.3%), Shibu Inu (13.6%), and Dogecoin (13.1%).
The survey also highlighted that among the women who had more than 30% of their assets allocated to cryptocurrencies, the majority were in the age group of 30-45, followed by the age group of 18-30. Further, 24% of women with more than 30% of their assets in crypto have been investing for more than three years.
Reasons for Investing in Cryptocurrencies
The survey revealed that one of the primary reasons why women invest in cryptocurrencies is for financial independence. The trend of choosing crypto for personal wealth creation and portfolio diversification is prevalent globally, with 45% of women in the age group of 45-60, 41% in the age group of 18-30, and 34% of women between the ages of 30-45 investing in crypto for financial independence. Additionally, 19% of respondents invested in crypto because of the combined factors of high returns and potential utility.
Social Perception of Female Investors in Cryptocurrencies
The survey also indicated that 25% of women feel socially appreciated for trying new forms of financial assets by investing in cryptocurrencies. Fifteen percent of women feel that they are considered financially knowledgeable, while 10% feel that they are perceived as knowledgeable of the latest technological developments.
Factors that Influence Women Investors
Of the respondents who were inspired to buy virtual digital assets by external factors, 51% were influenced by their partners, whereas 32% were influenced by news articles, social media, market trends, etc.
Women Prefers Crypto Over Traditional Assets
Cryptocurrency has been preferred by women over traditional assets ever since its adoption started growing. With low entry barriers, better access, and inclusion for users, women find it easier to invest in virtual digital assets. Notably, respondents in Maharashtra, Uttar Pradesh, Tamil Nadu, Delhi, Karnataka, and West Bengal have the highest number of investors who have invested in crypto on their own decision and have done sufficient research on the assets.