BENGALURU: With Bitcoin’s price surging, cryptocurrencies are finding favour with women investors. India ranks third in crypto ownership by women as of 2023.
Crypto exchange WazirX’s women investor data April 2023-March 2024 indicates that in the last three months, trading volume contributed by women increased by 90% as compared to the previous three months and 75% of the total women investors have continued to trade in high market cap tokens. About 70% of female investors are in the age group of 20-39 years. Quoting financial exchange Forex Suggest data, Rajagopal Menon, VP, WazirX, said, there are about 63 million female crypto owners in India, about 10% of the women population of the country.
“We are lucky to be part of this movement at this pivotal moment when the next phase of financial inclusion and independence is being marked by equitable access to resources. The investment patterns of women indicate they are well-informed and savvy. We hope more women investors in India follow suit,” he said.
Forex Suggest study says nearly one in every 10 women in India has ventured into the crypto world.
In order to understand how the exchange’s initiatives are impacting the female investors on its platform, it looked at some insights based on their engagement with virtual digital assets (VDAs) in the past 12 months, and found that women bought 19% of all gift cards sold on the platform and women were recipients of 9% tokens airdropped.
Maharashtra had the highest number of female investors as well as the new female user sign ups, Haryana contributed to the highest transaction volume by female investors. Also, most popular tokens among female investors include Bitcoin, Ethereum and Shiba Inu, among others.
Meanwhile, crypto trading platform CoinSwitch has announced it surpassed two crore registered users. This comes amid a strong resurgence in user activity in India, as investors turn bullish in the wake of Bitcoin ETFs in the US, the possible approval of Ethereum ETF, and the scheduled Bitcoin Halving event next month. Beginning this year, user registrations on CoinSwitch have grown by 5x as compared to the daily average user growth in 2023.
Bitcoin rises more than 150% in last six months
BENGALURU: Bitcoin (+6.7%) crossed its previous all-time high of $68,640 from November 2021 in the last 24 hours. Currently trading just below $68K, institutional participation via spot BTC ETFs and the investor’s anticipation ahead of BTC halving seem to be the key drivers for BTC’s price performance. ENS