Crypto Second Most-Widely Possessed Financial Asset for Women After Cash: Report

Despite cryptocurrencies not having remained in the best of their health in recent months, the sector did welcome a significant number of entrants.

Written by Radhika Parashar, Edited by Manas Mitul | Updated: 20 January 2023 17:27 IST

Crypto Second Most-Widely Possessed Financial Asset for Women After Cash: Report

Photo Credit: Unsplash/ Executium

Indian women crypto holders accounted for eight percent of CoinSwitch’s transactions

Highlights

Crypto has surpassed stocks in terms of garnering interest from women
eToro surveyed over 10,000 people to see women favouring crypto
Retain investors also hopping onboard crypto wagon

Cryptocurrency has emerged as a sector that has begun attracting investments from a large group of women from around the world. In a new report, eToro has said that cryptocurrency is the second most-widely possessed financial asset for women, right behind cash. In the last two quarters of the year 2022 — between July and December — women's possession of crypto holdings spiked from 29 percent to 34 percent. In the same time frame, the investments in crypto from males rose by just one percent.

The Israeli online brokering platform onboarded 10,000 participants from a total of thirteen nations as part of its Retail Investor Beat survey.

“Crypto is succeeding where traditional financial markets have sometimes failed,” CoinTelegraph said, citing eToro's report.

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Cryptocurrency becomes second most widely used asset class for women: eToro survey

Read More- https://t.co/el8pupW4rA #cryplogger #crypto #cryptonews #cryptolatest #cryptoupdates #bitcoinnews #btc #eth #sol #xrp #bnb pic.twitter.com/Utu4xJFJWn
— Cryplogger (@cryplogger) January 20, 2023

The risen involvement of women in the crypto sector, was recently highlighted and acknowledged by Indian exchanges CoinSwitch Kuber and WazirX as well.

As per CoinSwitch, women users from India accounted for eight percent of the total transactions it recorded last year.

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WazirX, in its findings, claimed that Indian women have been choosing ‘blue chip tokens' that are perceived to reach higher values in the long run with better liquidity values.

Despite cryptocurrencies not having remained in the best of their health in recent months, the sector did welcome a significant number of entrants.

Last year, on a quarter-on-quarter basis, overall crypto holdings grew from 36 percent to 39 percent despite the industry having undergone major turbulence.

Along with women investors, retail investors are also hopping onboard the crypto wagon. Crypto holdings by retail investors aged between 35 and 54 also grew by ten percent last year.

As for eToro, in August it acquired options trading platform Gatsby in a bid to expand its presence and crypto services in the US. The deal was finalised for $50 million (roughly Rs. 400 crore) in cash and common stock.

Headquartered in Israel's Tel Aviv, eToro started in 2007 as a fintech firm that shifted focus towards the crypto sphere as its business evolved.

Will crypto tax hurt the industry in India? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Further reading: Cryptocurrency, eToro, Crypto Adoption

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More