crypto: The reason behind the rise of women investors in the Indian crypto market
One of the main pillars of crypto has always been a decentralized and democratized financial system. But the male-dominated crypto industry has never really been seen as a space for women and has always been at odds with its founding principles.
Fortunately, this is changing. Recent data from exchanges and other crypto companies in India offers a glimmer of hope. Around 20 percent of crypto investors in India are reported to be women, but the numbers still show a significant gender gap.
However, the interesting fact in all these reports is that when it comes to new investors, women seem to be giving men a run for their money and most platforms have seen a phenomenal increase in the number of women signing up and investing on these platforms.
This is not just limited to investing. Women are coming on board the platform as creators, builders, influencers and founders too.
This sharp increase in the number of investors indicates how young female investors are increasingly shifting from traditional investments such as gold to crypto.
So what is driving this shift?
There is not one, but several reasons behind this. An important reason is the growing awareness of crypto as a technology and people realizing how investing in Bitcoin and crypto has long-term potential. There is also a wider awareness among women of the importance of financial independence.
In India, it is not that women were strangers to investing. But traditionally they have stuck to investments in gold and silver. However, with the growing crypto awareness, they have also started to understand the convenience of buying and storing digital assets online.
The higher returns that crypto provides have also resulted in women bringing their friends and family to invest. Some have also started dabbling in NFTs and other digital assets.
The increased internet penetration in the country has also caused a decrease in data inequality, which has contributed positively to this change.
The crypto industry has also taken it upon itself to recognize and reward talent without bias. This has resulted in a small but growing number of women in senior positions in Indian crypto startups.
As the crypto industry matures, there is also more regulatory clarity globally and new, emerging use cases and markets for the industry. This has given more women the confidence to emerge as entrepreneurs – with influential positions in the Indian and global crypto ecosystem.
It is my sincere hope that this is not just a short-term trend, but just the beginning of an influx of women into the industry. The small group of women are trailblazers, paving the way for others in crypto despite all the challenges they may face.
As more women join the crypto ecosystem, this results in increased influence and ultimately benefits being passed on to women everywhere in the long run. This will also open up gender diversity and inclusion in the sector and provide opportunities for women working in this sector.
Women playing key roles as industry leaders is still some way off, but this will change the scale and result in a better balance in the ecosystem. This balance will contribute to more viable ways for women on their way to financial freedom.
Regulators must also ensure that the crypto space is inclusive and diverse. This will bring positive changes in all aspects of the crypto ecosystem and help build a better and brighter future.
(Mohammed Roshan is the founder and CEO of GoSats.)
