Cryptocurrency Gains Traction Among Indian Women as Developing Countries Take Lead

Recent data by Forex Suggest reveal cryptocurrency ownership remains at about 10% among Indian women. The Asian country is third globally in terms of female cryptocurrency ownership.

The research provides that out of an approximate female population of 685 million, 63 million Indian women, or 9.2%, own cryptocurrency.

Developing Nations Take Lead

Females still do not dominate the crypto space in India or worldwide. Men account for 60% of the total crypto ownership in India, placing the nation in the eighth spot globally based on the Forex Suggest study. The data indicates a 20% point difference between male and female owners.

Largely, cryptocurrency ownership defies the hazy regulatory environment that exists within many national borders. India, for instance, has not yet established a clear framework for private crypto but has centered on a CBDC dubbed as e-rupee.

Meanwhile, Vietnam leads in ensuring gender equality in crypto ownership. The figures show that 47% of crypto owners are female, a mere 6% less than their male counterparts.

Indonesia follows closely, boasting a 43% female share in crypto owners. While this indicates a slightly wider gender gap than with a 14% difference, it is evident that Indonesian women are actively participating in the crypto space, based on the report.

Tied for the third spot, Kenya and Colombia each report that 42% of their crypto owners are women. Notably, Forex Suggest finds that women in developing nations are leveraging cryptocurrency for financial independence.

India Stands Third in Female Crypto Ownership

Based on percent ownership, Vietnam has 24.40% of its female population owning cryptocurrency. The Philippines is far behind, with 9.64% of its female citizens, or around 5.5 million women, having crypto assets. India takes the third spot in this category.

Considering India’s total population is a staggering 1.4 billion, 9.18% of crypto ownership among women translates to a staggering number. This also highlights the potential of crypto in developing nations as a financial tool.

However, gender parity in crypto still has some distance to cover. BeInCrypto recently emphasized the crucial role of female leadership for the long-term success of web3 and the broader crypto sector. The study also reiterated a disparity in leadership roles, with men occupying a whopping 77.61% of positions while women only occupy 22.39%.

While the crypto sector is still predominantly male-dominated, the increasing involvement of women, especially in developing countries, signals a positive shift.