Women dominate cryptocurrency trading in India

Yumna Ahmad, a communications professional based in Delhi, is one of several new-age women who are training hard to investing in the cryptocurrency space, which has historically been dominated by men. 

“My interest in cryptocurrency investing started in February 2021. Even though I felt it was out of my scope of understanding, dogecoin got me excited. It felt like an easy, fun way to enter the market. I bought the coin when it was trading at about 5 cents. Eventually, I got to know about other alternative currencies and dipped my toes in bitcoin, too. I am steadily scaling up my investments in cryptocurrency since I have a long-term plan in place as well.” Yumna Ahmad said.

Due to their innate patient and pragmatic dispositions, studies suggest that women are better positioned than males when it comes to budgeting. According to GrayScale’s Bitcoin Investor Study 2020, over 47 percent of the female investors polled were interested in investing in bitcoin, up from 43 percent in 2019.
More reassuringly, given the asset class’s good track record and success, about 66 percent of female investors indicated they would consider investing in it.

Women are more robust and knowledgeable when it comes to money management, according to an ET Money poll from 2021. Over the previous four years, women investors outperformed their male partners by more than 10%, according to the research. In order to make the most out of their investments, women took advantage of the market adjustments, investment opportunities, and SIP (Systematic Investment Plan) continuations, according to the research. ELSS (Equity Linked Savings Scheme) accounts for an average of 15% of a female investor’s portfolio, compared to just 12% of a male investor’s. This is a strong option for tax benefits and income development.

BitBns Co-Founder Gaurav Dahake emphasized the growing popularity of new-age platforms that make investment accessible and straightforward. “Currently, 20 percent of our investor base are women. Interestingly, more than half of them are investors who are keenly exploring multiple investment products rather than just indulging in trading and cryptocurrency”, he explained.

Shradha Nanchahil, a Ludhiana-based trader and mentor, also discusses how more women are enrolling in cryptocurrency classes. “I have 4 ladies I am training right now in this regard, but there is an increased buzz about this. Personally, I feel women make up for better traders as well, thanks to their emotional control, patience, consistency, and persistence”, she elaborated.

Women are more focused on the long-term view and automating their bitcoin journey than males are on intraday markets, high leverage, and speculative trading. More and more women are embracing financial independence and assertiveness when it comes to taking responsibility for their lives, with over 1.5 million active cryptocurrency investors owning Rs 15,000 crore.