Mumbai: Astha Shukla, 26, a bioengineer and cofounder of a Bengaluru-based fintech startup, is creating what she calls her personal “Yolo” fund and eschewing popular asset classes like equities or mutual funds. Instead, she chose to invest aggressively in cryptocurrencies.
“As a newbie investor, I feel significantly more ‘at home’ learning about crypto than I ever have about the stock market. I feel there is no legacy of jargon and hierarchy of knowledge with crypto and I don’t feel intimidated asking.
Fundamentally, I do believe that the way in which we transact as individuals and the way in which businesses are run will be digitised and disrupted from what’s currently conventional,” said Shukla, who owns the startup Salt.
Similarly, Mansi Shetty, 37, co-promoter of a design company, doesn’t want to miss out on what she thinks could be a big technological change. “The market is too volatile to predict returns in percentage points or even have a long-term vision. But I know with Crypto, in the next five years, I would at least see doubling of my portfolio,” said Shetty, who has invested in about half a dozen cryptocurrencies.
Both Shukla and Shetty are among hordes of women, largely between 25-40 years old, who have hopped on to the crypto band wagon. Indian crypto exchanges say at least half of all the new signups on top exchanges in the past 3-4 months are from women who have invested in the asset class.
“We have seen a massive percentage of women from Tier-II and Tier-III cities have joined the crypto bandwagon. Moreover, women from these regions contribute to 65% of the total signups by women from all over the country,” said Nischal Shetty, CEO, WazirX, a cryptocurrency exchange.
Not only are women taking a shine to crypto assets, but also experimenting with different allocation strategies when it comes to buying these assets, say industry watchers.