According to a new survey conducted by digital asset platform Bakkt Holdings, Inc. (NYSE:BKKT), the most popular digital assets among US-based crypto holders are Dogecoin (CRYPTO: DOGE) Bitcoin (CRYPTO: BTC), and Ethereum (CRYPTO: ETH).

The study, which surveyed 1,012 consumers across the U.S., both owner and non-owners of crypto assets, looked into the attitude and awareness of women towards crypto and how their viewpoints differ from those of men.

Most of the participants strongly associate cryptos with men, but the women who have not yet invested in digital assets claim that the leading barriers to their crypto adoption are: not knowing how to get started, not understanding crypto utility, and lacking extra funds for investment.

Also Read: Dogecoin Sees More Bearish Movement: What’s Next For The Crypto?

The knowledge gap for women who don’t own crypto is significant, with 70% rating their crypto knowledge as low or very low, which compares to only 13% of male crypto owners and 22% of women crypto owners who rate their knowledge as low or very low. 

Women who own crypto rate their knowledge almost 50% higher, which suggests that even a minimal crypto investment can increase knowledge.

“Despite recent crypto volatility, there’s continued momentum for women’s crypto adoption, and it’s reassuring to see that the barriers to entry can be overcome through education,” said Nancy Gordon, Chief Product Officer Loyalty, and Rewards at Bakkt.
 

Bitcoin (BTC), Tether (USDT), Shiba Inu (SHIB), Dogecoin (DOGE), WazirX Token (WRX), and Matic (MATIC) were the most-traded cryptocurrency on the exchange. Women traded more in Bitcoin, whereas men traded more in Shiba Inu.

To gauge the amassing interest among its users, WazirX conducted a user survey as well as analyzed the data patterns on its platform. Based on the same, the crypto exchange shared insights in its report called “Highlights & Observations From 2021: The Year Of Crypto”.

Interestingly, trading and investments in crypto have seen a demographic shift— with 66 per cent of WazirX users below 35 years of age. The growth in the number of new female users was up by 1009 per cent vis-à-vis an 829 per cent growth recorded in an increase in male sign-ups.

Apart from age and gender, crypto also witnessed a trend in participation from beyond metros and Tier-I cities. There was also a 700 per cent increase in the number of participants from smaller cities like Guwahati, Karnal, Bareilly, thereby signaling the growing interest from rural and semi-urban areas.

As of November 30, 82 per cent of WazirX users have reaped profits on their crypto investments, the company said, adding that it clocked a significant surge in user signups and crossed a user base of 10 million.

“The audience is evolving and recognizing crypto as an emerging alternative asset class. The government’s impetus towards a regulated approach for crypto would put India on the world map with other developed countries dealing in crypto,” said  Nischal Shetty, CEO of WazirX.

It should be noted that cryptocurrencies including Dogecoin, Ethereum and Shiba Inu also topped ‘Google’s 2021 Year in Search’, which the Alphabet-owned search engine released this week. “Dogecoin” and “Ethereum price” were the top 10 most-Googled news stories of the past year, across the globe.

Meanwhile, Shiba Inu was the most discussed cryptocurrency on Twitter during October, as per the data compiled by ICO Analytics. The analysis firm revealed the 20 most discussed cryptocurrencies on Twitter and Shiba Inu has emerged as a clear winner, receiving a 22 percent share of all crypto assets discussions on the platform, dwarfing Ethereum by 8.1 percent and Bitcoin by 7.2 percent.

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India’s largest crypto exchange, WazirX, facilitated a record $43 billion worth of trading volumes in 2021, a rise of nearly 1,735 percent compared to last year. New customer signups shot up and the platform now has over 10 million users.

With Bitcoin reaching record highs and countries recognising the significance of the digital currencies, 2021 has been the year of cryptocurrencies and there is immense interest in cryptos from retail investors. A fact check showed that Google recorded more searches on “how to buy bitcoin” than “how to buy stocks”.

Interestingly, gender has also played a significant role in defining the trends in the cryptocurrency market. While women dominated the Bitcoin market, Shiba Inu was the most preferred among men. WazirX saw an increase of over 1,000 percent in the number of women users on its platform and an 829 percent increase in the number of male users.

A user survey, conducted by WazirX to analyse the change in investor interest in cryptos over the last year, cast light on some interesting trends.

51 percent of investors who responded to the questionnaire released by WazirX reported having entered the cryptocurrency market because their friends and family recommended investing in it. In fact, 47 percent of the respondents have only begun their investment journey in the crypto market in the last six months.

44 percent of the respondents said cryptos make up to 10 percent of their total investment portfolio.

About 29 percent of individuals aged between 18 and 24 years have allocated 50 percent of their investment portfolio into cryptocurrencies. On the other hand, around 11 percent of individuals above the age of 51 have created a portfolio that has a 50 percent weightage to cryptos. The young investors have taken a special liking to the cryptos indeed!

With Bitcoin leading the pack, Tether, Shiba Inu, Dogecoin, WazirX Token, and Matic wre the most traded cryptocurrencies on the WazirX platform in the year 2021.

Around 61 percent of respondents said that investing in cryptocurrencies has helped them. Of these people, 78 percent believed cryptos have helped them financially. It is also good to note that as of November 30, 82 percent of WazirX users saw a growth in their crypto-centric portfolio.

The digital currency market is also attracting talents for employments. 51 percent of the respondents said they would want to work in the crypto industry. Many pointed out they preferred entrepreneurship, finance, and business development to be their top three career choices in the field of cryptos.

WazirX also helped empower over 962 creators through the WazirX NFT Marketplace. The creators sold over 262,896 WRX worth of NFTs through the WazirX platform (262,896 WRX is approximately equal to Rs 2.4 crore at current exchange rate).

According to WazirX, Indians are starting to recognise cryptos as an alternative asset class; the platform saw an increase of over 700 percent in signups from smaller cities in India.

With the government’s efforts to regulate the crypto market, India can soon be placed admirably on the map alongside other countries that deal in crypto. Many Indian institutional investors are looking forward to the crypto market bringing forward new applications for alternative coins such as Ethereum, Solana, Cardano, among many others. As metaverse is becoming increasingly common, WazirX expects an inflow in application in Decentralised Financing, NFTs, and GameFi.

First Published: Dec 16, 2021, 09:57 PMIST