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Indias crypto trading volume surges 17 times Men prefer Bitcoi

Date:2024-06-03 18:01:04 Channel:Crypto Read:

In the fierce competition in the digital currency market, coins and Bitcoin have always been the two most watched stars. As a traditional digital currency, coins have stable value and convenient use, and are favored by investors. Bitcoin, on the other hand, attracts many speculators and venture capitalists with its extremely high value volatility and potential risk-return ratio. In India, a dynamic and potential digital currency market, the surge in crypto trading volume has triggered people's thinking about gender preferences.

First, let's take a look at why men prefer coins, a traditional digital currency. According to market research data, men prefer a stable investment strategy and pay more attention to the growth of long-term returns. They prefer to choose coins with relatively stable value, invest their funds in them, and enjoy the satisfaction brought by stable appreciation. For example, Rahul, a young male investor in India, said: "I prefer coins because it gives me a sense of security and will not allow me to evaporate a large amount of money in a short period of time." This preference for steady investment is common among male investors.

In contrast, women are more inclined to choose high-risk and high-return digital currencies such as Bitcoin. Studies show that women are more willing to try new things, more adventurous, and more interested in high-risk and high-return investment methods. For example, Priya, a female investor in India, said: "The fluctuation of Bitcoin's value makes me excited. I am willing to take certain risks and pursue higher returns." This pursuit of adventure and excitement makes female investors more inclined to choose challenging digital currencies such as Bitcoin.

In addition to gender factors, the surge in India's crypto trading volume also reflects the rapid development and popularity of the digital currency market. With the continuous maturity of blockchain technology and the gradual improvement of government supervision, the status of digital currency in India has become increasingly prominent. More and more investors have begun to pay attention to the digital currency market and try to profit from it. This craze for digital currencies has also led to a surge in crypto trading volume, forming a strong market momentum.

In this vibrant era of digital currencies, the competition between coins and Bitcoin will continue to inspire people to think about investment strategies and risk management. Whether choosing a stable coin or pursuing high returns in Bitcoin, every investor should make a wise choice based on their own risk preferences and investment goals. The digital currency market is full of opportunities and challenges. Only by investing carefully can we remain stable in the market fluctuations.

Finally, let us look forward to the future of the digital currency market together. We believe that in the near future, digital currency will become the mainstream of the financial market, bringing more opportunities and challenges to investors. The competition between coins and Bitcoin is only a small part of the digital currency market, and more exciting stories are waiting for us to explore. Let us seize the opportunity, move forward bravely, and witness the prosperity and development of the digital currency market together!

The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

According to foreign media reports, WazirX released a latest report on the 16th showing that the transaction volume in 2021 alone exceeded US$43 billion, an increase of 1,735% over 2020.

WazirX, headquartered in Mumbai, is the largest subsidiary of the world's largest cryptocurrency exchange. In the report titled "Highlights and Observations of the Year of Cryptocurrency in 2021", it was pointed out that the number of registered people in many small cities, including Guwahati in the northeastern state of Assam, Karnal, one of the 20 cleanest northern cities in India, and Bareilly in Uttar Pradesh, increased by more than 700%, proving that more and more areas in small cities and rural areas in India are adopting cryptocurrencies.

Among them, Bitcoin is still the most traded cryptocurrency, followed by Tether, Dogecoin, Shiba Inu Coin, and exchange tokens WRX and Polygon's MATIC.

Indian retail investors tend to invest in relatively cheap and more volatile cryptocurrencies, such as Dogecoin and Shiba Inu Coin, to make more profits with relatively small investments. This pattern can also be seen in Turkey, which is plagued by inflation. Retail investors doubled down on these cryptocurrencies ahead of the Indian festival of lights in November.

The report noted that in the volatile meme coins, men dominated, while female investors were mainly focused on Bitcoin. The number of new female users grew by 1,009%, outpacing the 829% of new male registrations, reflecting not only a demographic shift in the cryptocurrency market, but also the growing popularity of cryptocurrencies among the younger generation.

The report noted that WazirX user registrations grew significantly, with the number of users exceeding 10 million.

"Only 11% of respondents in the 51 and above age group said they had allocated more than 50% of their total portfolio to cryptocurrencies, while 29% of respondents in the 18 to 24 age group did so. 66% of WazirX users are under 35 years old."

According to WazirX analysis, during the COVID-19 epidemic, which added a lot of uncertainty, cryptocurrencies not only gave ordinary people a new way to make money online, but also helped the middle and lower classes face the epidemic.

Even though cryptocurrencies are booming across India, judging by local media, it is unlikely that cryptocurrency-related bills will be heard and passed during this year's parliament, according to local reports. The Reserve Bank of India remains against cryptocurrencies, and central bank governor Shaktikanta Das recently said that even without digital currencies, the decade-old blockchain technology can thrive.

However, WazirX believes that the government will move towards regulation rather than prohibition. WazirX CEO Nischal Shetty said that India's approach to cryptocurrency regulation will help put India on the world map with developed countries and help pave the way for India's future in crypto assets to become a self-reliant India (Atmanirbhar Bharat Abhiyaan).

The self-reliant India movement is the new India vision proposed by Prime Minister Modi on May 12, 2020, announcing a special economic and comprehensive plan of 200,000 rupees to fight the epidemic in India. Its goal is to make the country and its citizens independent and self-reliant. Self-reliant India includes five indicators: economy, infrastructure, system, vibrant population and demand.
In the world of digital currency, the battle between coins and Bitcoin has always attracted much attention. Recent data shows that India's crypto trading volume has soared 17 times! What's more interesting is that men seem to prefer coins, while women prefer Bitcoin. What kind of story is hidden behind this gender preference? Let's unveil the mystery of this digital currency together.


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