According to a recent study, about 10 percent of women in India own crypto assets. This percentage ranks for about third position among all the countries showing the rising dominance of crypto among Indian women and world in large.
Recent data from foreign exchange education portal “Forex Suggest,” reveals the welcoming facts about ownership of crypto among Indian women. Reportedly, there are 63 million female cryptocurrency owners in India, accounting for 9.2 per cent of the female population of around 685 million.
There are several aspects including the propensity to explore new assets. Most educated women are seeking independence in employment. Financial literacy, their general awareness and their tendency to explore new asset classes is on the rise.
On the global scale, Vietnam tops the list with 12 million female cryptocurrency owners, or 24 per cent of the female population. With 47 per cent female cryptocurrency owners, Vietnam has the most even gender distribution.
After that, Philippines comes second with 9.6 per cent, representing over 5.5 million female cryptocurrency owners. Kenya and Colombia are tied for third place, with women making up 42 per cent of all cryptocurrency owners in both nation. Reportedly, India comes in eighth, with male and female crypto ownership at 60 per cent and 40 per cent, respectively. According to the study:
This is a difference of just six percentage points, showing that female access to digital currencies is being supported by the local culture.
Commenting on what these figures indicate in India, blockchain and emerging tech evangelist Sharat Chandra said:
There are several aspects including the propensity to explore new assets. Most educated women are seeking independence in employment. Financial literacy, their general awareness and their tendency to explore new asset classes is on the rise.
He adds that developer groups, both national and international are empowering and supporting women in this domain and also included the example of platforms like The Pheonix Guild etc which have assisted in increasing awareness about digital and block work investments among women.
Furthermore, Chandra talked about investment risks, adding that information asymmetry has been influencing investment decisions, as there are limited neutral voices but more biased content. He adds that the lack of regulatory oversight, no definitive laws for protection and the lack of credible sources or self proclaimed experts pose additional threats for making crypto investments.
However, blockchain advisor Kamlesh Nagware doesn’t agree with the study. He says that women investing in crypto is not a question of being supported by the local culture but is about the “hype” surrounding it.
People are seeking opportunities, educated ladies especially, want to begin and set up their own new ventures.
Additionally, Nagware said that “understanding the regulatory culture, the laws involved and the security concerns about money laundering is essential. Grasping the technology involved and educating oneself about the domain are equally important.” He further discourages investors from making decisions based on inputs from crypto influencers.
Despite these setbacks, Chandra said that increasing asset tokenisation which in turn improves asset liquidity and the opening up of other asset classes are some of the positives women get to explore while investing in crypto.
Overall, Indians have been looking forward to crypto adoption in present times. Despite the uncertainty of regulations, India is expected to be one of the leading countries in the crypto adoption race as reported by Todayq News.