Bitcoin News

India’s Female Investors Are First To Embrace Bitcoin

A survey of over 60,000 people polled between March and June, revealed that on average, India’s female investors paid out the equivalent of $2,000 on cryptocurrencies – twice the amount that their male counterparts spent, proving that when it comes to betting on Bitcoin, Indian women have bigger balls than their menfolk! 

A survey carried out by Indian cryptocurrency exchange platform BuyUcoin has revealed that when it comes to Bitcoin, Indian women are prepared to spend big. The poll, which was taken over four months from March to June of this year, and targeted more than 60,000 people, revealed that in India, it’s women who have been the first to embrace blockchain technology, and have spent on average $2,000 on cryptocurrency, double that of their male counterparts. In an interview with Indian current affairs website Quartz, Shivam Thakral, BuyUcoin’s CEO said:

“Usually, woman investors who are buying or trading are over 40 years of age. Therefore, typically these mature investors are able to put in more money. On the other hand, more men start investing at an early age with the average age for this investor group being 30.”

India’s Central Bank Comes Down Hard On Crypto

Unfortunately however, in the past few months, India’s central bank has come down heavily on cryptocurrency, and in April the Reserve Bank of India instructed all lenders that they have just three months to wind down the bank accounts of crypto exchanges and their users. Not surprisingly, under such brutal legislation, the number of exchanges in India has all but disappeared – except for the likes of BuyUcoin.

Despite the restrictions, staff at BuyUcoin remain optimistic. Earlier this month, Subhash Chandra Garg, India’s economic affairs secretary who is now heading a committee on cryptocurrency regulation, said in a TV interview:

“We have prepared a draft (on virtual currencies) that entails what parts of this businesses should be banned and what should be preserved. This should be discussed by the first week of July and we should wrap this up within in the first fortnight of July.”

Related posts