India

Crypto Trading In India: Women Invest More Money

Indian cryptocurrency exchange BuyUcoin has found that women who are Indian investors, on average, capitalized over Rs1.4 lakh on digital currencies that is double the amount that men normally spent. Between March and June, the survey showed it had over 60,000 respondents.

According to the Shivam Thakral, BuyUcoin’s CEO, women invest money that is more and who are more than 40 years of age they are buying or trading. Thus, these mature stakeholders are capable to put in more money.

On the other hand, a lot of men have started to invest at an early age with the average age group being 30. Also, Bengaluru females recorded an average investment of more than Rs. 2,00,000.

Trading In India

New Delhi, Mumbai, Bengaluru, Hyderabad, Pune, Chennai, Ahmedabad, and Kolkata showed nearly 75 percent of the digitalized currency investments, followed by tier-2 and tier-3 cities. And its salaried professionals who are appealed the most by the enticement of cryptocurrencies.

However, in the past few months, India’s central bank reduced on the ecology. The Reserve Bank of India(RBI) directed all lenders to wind down the bank accounts of cryptocurrency exchanges and their users within three months. As a result, the number of active traders has fallen.

With the latest price internationally prices had hit a seven month low. Though the figures in the review come as an astonishment, it is, however, encouraging to know more people are continuing to invest their crypto assets rather than panic-selling.

Subhash Chandra Garg, who is heading a committee on cryptocurrency regulation, recently stated that they are in the final leg for finalizing the draft regulation on such type of trading India currencies.

In the meantime, the exchanges have also raised a legal challenge. The case they have filed against the RBI’s ban on their bank accounts just a few days before the order comes into effect is set to come up for hearing on July 03. It’s tenterhooks till then.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Shivani Bedre has been working as a content writer/editor for many years. With her interpersonal skills, she has the ability to generate content in a clear and precise manner. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy the website.

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