1 out of 10 Indian women own crypto, reveals Forex Suggest study

India ranks third globally in terms of female ownership of digital assets as disparities and cultural impact come to light

By Shashank Bhardwaj

Published: Aug 17, 2023 07:09:28 PM IST

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A recent study conducted by Forex Suggest has unveiled a remarkable trend in the realm of crypto ownership among women in various countries. Notably, nearly 1 in every 10 women in India has ventured into the world of crypto, contributing to approximately 9.2 percent of the female population (nearly 63 million worn). This revelation positions India at the global forefront, ranking third in the share of female ownership of digital assets.

At the forefront of this intriguing trend is Vietnam, where an impressive 24 percent of its female populace, totalling around 12 million women, own crypto. Following closely, The Philippines boasts a commendable 9.6 percent female ownership, equivalent to approximately 5.5 million female crypto enthusiasts.

On the other hand, the almost balanced distribution of male and female crypto owners in Vietnam, with females accounting for a significant 47 percent, highlights the influential role that local culture plays in promoting equal digital currency access for women.

However, noteworthy disparities in ownership are evident in several other nations, when you rank them by the percentage of their female crypto user base. Indonesia, for instance, exhibits a significant 14-point gap between male and female ownership of crypto, with males comprising 57 percent and females constituting 43 percent of crypto owners.

As for Kenya and Colombia, women constitute 42 percent of total crypto owners in both countries. In the Indian context, the eighth spot in this ranking stands for 40 percent of women in the crypto ownership landscape, while males hold the majority with 60 percent ownership.

These findings illuminate the growing presence of women in the dynamic crypto landscape and offer valuable insights into the cultural and societal factors influencing their active participation. As digital finance continues to evolve and expand, nurturing an inclusive environment for all genders remains imperative to foster sustained growth, innovation, and broader economic empowerment.

Cryptos, once seen as a niche interest, are now capturing the attention of a diverse spectrum of individuals, transcending traditional gender boundaries. The Forex Suggest revelations underscore the evolving dynamics in India's financial landscape as women embrace the opportunities presented by the digital revolution. As more women take strides in crypto, the journey toward a more inclusive and diverse financial future gains momentum.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash