Women’s Day: Female investors find cryptocurrencies attractive despite market’s volatility; Bitcoin, Tether top picks

As per WazirX Survey for the occasion of Women’s Day, trading volume on its platform by female users increased by 3.3% in a year.

The trading volume in crypto assets by female investors rose from 15.27% in 2021 to 18.57% in 2022 despite the year bringing in a liquidity crunch in the market. The year 2022 has borne witness to collapses of major stablecoins, liquidation, bankruptcies, and illiquidity in cryptocurrencies owing to macroeconomic uncertainties.

Not just that, the WazirX survey reveals that the average value of Crypto held per female user on the platform is ₹9,650, which is almost 30% more than the average value of Crypto held per male user, which is ₹6,676.

That being said, women investors now have combined crypto worth ₹354.9 crore in their balance.

Further, the survey highlighted that the highest number of signups among females came from the age group of 25 – 35 in the last two years. It was 51.02% and 44.28% in 2021 and 2022 respectively. Closely following are the female users between 36 – 50 with 29.98% and 32.54% in 2021 and 2022 respectively.

According to WazirX, over a period of time it has been observed that Crypto 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.

Bitcoin was the most loved cryptocurrency among female investors with a weightage of 21.6%. But Tether with 21% weightage in total volumes emerged as the second most popular digital asset among females. Others were — WazirX (16.4%), Ethereum (14.3%), Shibu Inu (13.6%), and Dogecoin (13.1%).

Among the women who had more than 30% of their assets allocated to cryptocurrencies were majorly 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 3 years.

As per the survey, among the major reasons to invest in cryptocurrencies would financial independence. 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 30-45 invested in crypto for financial independence. This has been a trend globally where women have chosen crypto for personal wealth creation and portfolio diversification. While 19% of respondents invested in crypto because of combined factors of high returns and potential utility.

While 25% of women feel that with crypto investment, they are socially appreciated for trying new forms of financial assets. Whereas, 15% feel that they are considered financially knowledgeable. And 10% feel that they are perceived as knowledgeable of the latest technological developments.

Out 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.

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, as well as done sufficient research on the assets.