A new report has found that women invest more twice as much men in major cryptocurrencies assets like bitcoin and ethereum.
A 3-month study conducted by New Delhi-based cryptocurrency exchange BuyUCoin showed that on the average women invested $2,305 in the market compared to $1,017 by men.
According to BuyUCoin, in course of the study, it interviewed and analyzed the trading habits and demographic information of over 60,000 users of its platform.
Most of the respondents were aged between 25 and 40 years with the vast majority of them coming from India’s so-called Tier-1 and Tier-2 cities, namely New Delhi, India’s capital city (22.03), Bangalore, its tech-hub (13.91) and the country’s financial capital city of Mumbai (14.42).
In an email to CCN, the CEO and co-founder of BuyUCoin, Shivam Thakral explained that the study was among other things meant to throw more light on the participation of women in cryptocurrency trading.
“We wanted to conduct a detailed study to ascertain new policies and strategies that will drive this industry ahead. While conducting this study we acquired some interesting facts such as the service sector is taking exceptional interest in trading of cryptocurrency and females in particular showed great potential in leading this industry forward, although these are just primarily results of this study.”
India is one of the most vibrant market for cryptocurrencies trading in the world. But the country’s Central Bank, the Reserve Bank of India (RBI) stunned the market when it issued a directive in April that required all Indian banks to stop servicing individuals or businesses dealing with or settling virtual currencies like bitcoin and ethereum, beginning on the 6th of July.
The RBI directive was however met with widespread disapproval from many quarters and in May, new reports emerged that the country could instead levy an 18 percent tax on all cryptocurrency transactions.