According the data on BuyUcoin, a cryptocurrency exchange in India, female investors in India invested more than INR 1, 40,000 or $2,000 in digital currencies on an average. The amount is twice the amount men usually spend on cryptocurrencies. The data is taken from a survey conducted between March and June and involved 60,000 respondents.
Shivam Thakral, the CEO of BuyUCoin stated –
“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. On the other hand, more men start investing at an early age with the average for this investor group being 30.”
The total number of male investors is much higher than female investors, though. In the national capital region of New Delhi alone, there are only 8.8% of women investing in cryptocurrencies for 91.2 % of men.
75% of the digital currency investments are made from New Delhi, Mumbai, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad and Kolkata. Tier-2 and tier-3 cities hold the next highest position. Salaried professionals are the most active investors in cryptocurrencies.
Despite being slowed down by the Indian RBI’s circular, crypto exchanges remain active and so do the investors; very little difference in the volume of investments was mapped after the negative circular.
On a more favorable note, Subhash Chandra Garg, secretary in the department of economic affairs heading a committee on cryptocurrency regulation told ET now (a television news channel) –
“We have prepared a draft (on virtual currencies) that entails what parts of this business 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.”
The case against the RBI’s ban on crypto-exchanges’ bank accounts is set to be discussed on a hearing on July 03, 2018. The crypto-community in India is in high anticipation of a positive outcome. The Indian market has huge potential and the investments, whether from male or female investors, could go completely into foreign exchanges if there is an outright ban on Indian crypto-activity. From general response, it is obvious that the active investors will stop trading in digital assets.
