Indian Women Spending Twice Their Rupees Than Men on Crypto

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Indian Women Spending Twice Their Rupees Than Men on Crypto

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It appears that unlike most countries around the globe, Indian women are breaking the mould in terms of cryptocurrency spending, writes Bitcoin.com.

Bitcoin News recently reported that figures released from community-driven Bitcoin statistics and services site Coin Dance showed that as of May 2018, 94.73% of Bitcoin community engagement and active participation came from men and 5.27% from women.

These figures are not so clear when it comes to India. Women are still in the minority but those living in major centers such as the capital Delhi, Mumbai and Bangalore actually spend twice as much on cryptocurrency as their male counterparts according to a recent survey.

The survey of over 60,000 respondents, conducted by crypto exchange Buyucoin, showed that on average women were currently INR 140,00 (USD 2,000) whereas men were lagging far behind in their Bitcoin spending recording half that amount in India’s major centers.

Buyucoin’s CEO and co-founder Shivam Thakral, explained:

“We wanted to conduct a detailed study to ascertain new policies and strategies that will drive this industry ahead. We acquired some interesting facts such as the service sector is taking exceptional interest in trading of cryptocurrency, and females, in particular, showed great potential in leading this industry forward.”

These Indian statistics are not overly surprising when viewed in terms of gender movement in the global industry which indicates that women are increasingly taking a more active interest in purchasing and investing in digital currencies over the past year. London Block Exchange senior business analyst Agnes de Roeyer, also believes women have recently become keener to join the crypto market, explaining:

“There’s still a common misconception that cryptocurrency is a game for men, but we’ve seen hundreds of women sign up for our exchange in the last few months and some of the most inspiring and knowledgeable investors, leading the way in the industry are female.”

The Buyucoin figures reveal that New Delhi has 22.03% of India’s cryptocurrency users with 8.8% of these being female investors, the largest total of all women investors out of all Indian states. Women typically begin investing in cryptocurrency over the age of 40, ten years behind their male counterparts.

 

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