Financial independence is a key motivating factor behind the cryptocurrency investment decisions of women, followed by the probability of high returns and potential utility, according to a survey report by cryptocurrency exchange WazirX.

The survey conducted featuring 400 female crypto holders showed that 45 per cent of women in the age group of 45-60, 41 per cent in the age group of 18-30, and 34 per cent of women between the ages 30-45 invested in crypto for financial independence. This has been a trend globally where women have chosen crypto for personal wealth creation and portfolio diversification, the report noted.

According to the survey, 19 per cent of respondents invested in crypto because of combined factors of high returns and potential utility. 25 per cent of women feel that with crypto investment, they are socially appreciated for trying new forms of financial assets; 15 per cent feel that they are considered financially knowledgeable; 10 per cent feel that they are perceived as knowledgeable of the latest technological developments.

In addition, 6.8 percent feel that a combination of the above three scenarios is applicable to them after investing in crypto. However, 26 per cent feel that crypto investment has not had an impact on their social standing.

Bullish tendency

The survey also revealed that respondents want more social media information, news articles, and awareness programs, in order to boost the level of knowledge in crypto. While the imposition of taxes and the bear market have impacted trading in India, female investors continue to be bullish about this sector, the report said.

The highest number of signups among females came from the age group of 25 - 35 in the last two years. It was 51.02 per cent and 44.28 per cent in 2021 and 2022 respectively. Closely following are female users between 36 - 50 with 29.98 per cent and 32.54 per cent in 2021 and 2022 respectively, the report further noted.

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