Author: Jagdish Kumar, India
Though cryptocurrencies are popular among Indian men after the surge from January 2018, women take the lead in investing twice the amount than men, found in a latest survey conducted by Bangalore based cryptocurrency exchange, BuyUcoin.
The survey has found that female Indian investors in the cities like Bangalore, Delhi, Hyderabad, Delhi, Gurgaon, Jaipur, Thane, Vadodara, Bhubaneswar, Jammu, Allahabad, Trivandrum, Mangalore and Kota recorded over 50% or even double the growth of investment cryptocurrencies, compared to men.
The survey was conducted between March 2018 and June 2018 and had over 60,000 respondents across the country.
However, in the cities including Mumbai, Chennai, and Kolkata, men were still leaders when it comes to investing in cryptocurrencies, the survey added.
Overall, women investment was double than the men’s.
But percentage wise male investors were around 91% to 92% compared to female investors at around 8% to 9% the survey found.
On an average, women invested over $2000 (INR 140,000) on digital currencies—twice the amount that men typically spent, the survey underlined.
“Usually, woman investors who are buying or trading are over 40 years of age. Therefore, typically these mature investors are able to put in more money, the survey added.
However, more men start investing at an early age with the average age for this investor group being age of 30.
The survey result was released a week before the Reserve Bank of India (RBI) ban on cryptocurrencies comes into force in India from 6 July 2018.
However, the government is not adamant on banning and have formed a committee to look into crypto currency.
The committee headed by secretary, department of economic affairs Subhash Chandra Garg who is heading a committee on cryptocurrency regulation has said that they are in the final leg for finalising the draft regulation on such currencies.
The draft regulations on cryptocurrencies will be submitted to the government in the next few days, it is learnt.
Image Credit: cryptotimes.org