The adoption of cryptocurrencies has skyrocketed in recent years, and both men and women have invested in cryptos like Bitcoin, Ether, Shiba Inu, and Dogecoin. However, it’s the men who have mostly been crypto’s most avid users and investors. CoinSwitch Kuber, an Indian crypto exchange, recently revealed that only 15% of its users consist of women. The crypto exchange’s user base features 14 million Indians right now, which is quite a spectacular rise from the 1 million users it reported at the beginning of 2021.
CoinSwitch Kuber also said that most of its Indian users are youngsters and released some interesting usage statistics as well. For instance, the average CoinSwitch Kuber user spends 27 minutes every day on the app to either trade crypto assets or learn more about cryptocurrencies from the platform. When 2021 had just begun, the average user spent only 13 minutes every day on the app.
Nearly 60% of all CoinSwitch Kuber users are below 28 years old and mainly live in the metro cities of Kolkata, Lucknow, Patna, Pune, Mumbai, and the national capital Delhi. A 3500% rise in transaction volumes in the last year was also recorded, even though every user didn’t make a transaction on CoinSwitch Kuber. Bitcoin, Ethereum, Cardano, Polygon, and Dogecoin were the most-traded crypto assets on the platform.
WazirX, another prominent Indian crypto exchange, also recorded several positives in 2021. For starters, crypto investments on the platform increased, and more than $43 billion was recorded as the total trading value – a 1735% rise from 2020. WazirX suggests that women tend to be more interested in Bitcoin trading, whereas men are leaning towards the meme token Shiba Inu.