Indian Women Invest Twice as Much as Men in Cryptocurrencies, Study Shows

  • Indian cryptocurrency exchange BuyUCoin conducted a study that found women in India invest twice as much as men in cryptocurrencies.
  • The study also found that men greatly outnumber women investing in the ecosystem.

A study conducted by Indian cryptocurrency exchange BuyUCoin has recently revealed that women in the country invest, on average, twice as much as men as they on average invest over Rs 1.4 lakh (about $2,000), while men only go with half that amount.

BuyUCoin’s data further found that the country’s cryptocurrency investors are prevalent in New Delhi, as it had 22.03 percent of its total users. To get to its results the cryptocurrency exchange surveyed over 60,000 people between March and June this year.

Despite the results, there are still more men investing in cryptocurrencies in the country. On average, men begin investing in the cryptocurrency ecosystem in their 30s, while women do so in their 40s.

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Commenting on BuyUCoin’s findings, the exchange’s co-founder and chief executive officer Shivam Thakral stated:

While conducting this study 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, although these are just primarily results of this study.

Shivam Thakral

The study comes as a three-month deadline India’s central bank, the Reserve Bank of India (RBI), gave banks to stop dealing with cryptocurrency users is closing in. The financial institution’s move has taken its toll, as the country saw a spike in trading volumes one month after its announcement. Notably the country’s cryptocurrency exchanges took legal action against the RBI, and are set to have a hearing on July 3, a few days before the ban comes into effect. There’s

There’s still hope for the country’s cryptocurrency exchanges, however, as Subhash Chandra Garg, who’s heading a committee on cryptocurrency regulation and is the country’s secretary of economic affairs, has recently revealed cryptocurrency regulations may be around the corner.

Speaking to television news channel ET Now Garg stated:

We have prepared a draft (on virtual currencies) that entails what parts of this businesses should be banned and what should be preserved. This should be discussed by the first week of July and we should wrap this up within in the first fortnight of July.

Subhash Chandra Garg

A study conducted by free internet provider Jana back in April found that Ethereum was the most searched-for cryptocurrency in the country, even topping the flagship cryptocurrency Bitcoin.