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Interest in using cryptocurrency investment in the quick-changing, global economy has increased as it acquires new meanings.
Cryptocurrency investment undergoes change even within its macrocosm due to the massive influx of women into an industry that had previously been dominated by men.
The rise of the crypto class shows that more women are independently taking control of their finances, especially in Maharashtra, Delhi, Tamil Nadu, and Karnataka. Of course, just like the rest of the market, women continue to favor Bitcoin the most. However, research shows that women are becoming more enthusiastic about making investments in Ripple, Cardano, and Ethereum.
Data show that compared to men, women invested 1400% more in cryptocurrency exchanges last year. The ruling issued by the Supreme Court in 2020 is credited with sparking the sudden increase in crypto assets as a whole. The Reserve Bank of India’s ban on bitcoin was overturned by the Supreme Court of India on March 4. However, only 15% of those working in the cryptocurrency sector at the time were women.
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Why Do Women Stay Away From Cryptocurrency investment?
There are many explanations for why men continue to dominate the cryptocurrency industry.
The two main perspectives used to examine cryptocurrency are technical and financial. Women are frequently underrepresented and overlooked in the fields of knowledge and finance. Some individuals think that men predominate in these two professions.
Another theory holds that women are risk-averse when it comes to investments. As a result of Bitcoin’s volatility, women frequently stick to more conventional investing.
But there’s more than that. Research indicates that 76 percent of female investors versus 52 percent of male investors admit to not being familiar with this new asset class. Women do not invest because they are not exposed to the asset class. On the other hand, women are looking for financial products that make sense to them.
Why Do Indian Women Find Cryptocurrencies Interesting?
Prior to Women’s Day in March 2021, Groww organized and published a poll in India with more than 28,000 responses from women of all ages. The study produced a number of intriguing findings, one of which was that older women tended to invest in more conventional investments like real estate. Younger women, in contrast, preferred “stocking.” With an annual income of more than Rs 30 lakh, 6% of women had cryptocurrency investments.
A high-risk, high-return asset class like stocks were “three times more likely to be selected” by women between the ages of 18 and 25 than fixed deposit options, the report claims.
Why Do Women Perform Better Than Men in Cryptocurrency Investment?
Due to two factors, women make better cryptocurrency investors.
Women are savers; a study by Fidelity Investments found that they set aside 8.3% of their income (males save solely 7.9 percent of their revenue). Women who have saved more money are more motivated to diversify their holdings in high-yield assets like cryptocurrencies.
Women are more successful investors than men because they have a tendency to identify risks in almost everything and take steps to reduce them as much as possible. A Merrill Lynch study found that female investors are more likely to weigh the risks of an investment before making it.
As a result, female investors might approach their investments with more analysis.
Conclusion
The most notable effect of cryptocurrencies on the democratization of the investment process is seen in the proportion of women who participate in it. This is a positive trend, and it seems that both India and the rest of the world will see more of it in the upcoming weeks and months. All sports fans interested in fantasy sports can use Fanspel, the first blockchain-based fantasy platform. Join now for a chance to earn fantastic rewards.
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