Women above 41 more active in crypto trading than men in India: Report

Women from West Bengal, Haryana and Uttar Pradesh were involved in the most crypto trades on the platform: Crypto exchange WazirX

Women above the age of 41 in India transacted more in crypto assets in 2022 than men in the same age group, a report released on Monday showed. Women traded more in Blue chip tokens than men, it added.

"Men, on the other hand, invested in meme tokens, gaming tokens, etc, besides blue chip tokens," according to the "Bringing '23 in with learnings from 2022" year-ender report released by crypto exchange WazirX. 

Women from West Bengal, Haryana and Uttar Pradesh were involved in the most crypto trades on the platform.

In the age group of 18 to 26 years and 26 to 40 years, men were more active in crypto trading than women in the same age group. Among these, men between the age group of 18 and 26 years were the most active. 

The report added that gift cards worth Rs 1.1 million were purchased on the crypto exchange WazirX during the festive season in India. Half of these cards were bought only during Diwali. The company had launched these cards, which allowed the users to send WRX tokens to each other ahead of the festivals.

"For Diwali, we also introduced 'Shagun' for users who purchased gift cards for their loved ones," the report said.

In 2023, the platforms that can provide security of funds with transparency will see more users than others.

"With some major mishaps in the Crypto ecosystem in the form of the Terra crash and FTX fiasco, users are wary of their funds. They will have second thoughts while investing in digital currencies. Platforms that have the potential to provide security and trust with complete transparency will witness more users preferring them over others," it added.

"With India's G20 presidency, the world is waiting for regulatory clarity that will impact one of the largest user bases of Crypto," WazirX said.