Indian Exchange Says Women More Bullish on Cryptocurrency Than Men

Women in India are making larger individual investments in cryptocurrencies compared to men, according to one local exchange. However, men are leading the charge when it comes to sheer numbers.

Women are Bigger Spenders

Women have turned out to be the bigger spenders in India when it comes to cryptocurrency investments, according to a recent survey conducted by BuyUcoin – a local cryptocurrency exchange. The average female trader invests more than RS 1.4 lakh (roughly around $2,000) in virtual currencies, double the amount their male counterparts invest.

The exchange surveyed more than 60,000 respondents between March and June of this year. According to the BuyUcoin CEO Shivam Thakral, the increased amount of money women invest is tied to their average age:

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 age for this investor group being 30.

Nevertheless, in terms of pure numbers, men are leading the charts, with over 90% of the investors being male across the entire country.

The Local Cryptocurrency Environment

In April the Reserve Bank of India (RBI) officially ordered regulated financial entities to refrain from providing their services to all businesses involved in cryptocurrency-related dealings. This move prompted an uproar within the community which resulted in swift counteractions from numerous companies involved in the field…

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