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WazirX Report: Women Prefer Bitcoin While Men Prefer Shiba Inu. Select

The sentiments and trading patterns of crypto investors in India have the potential to shake the world market, as the country’s last encounter with crypto ban rumors showed the world. With FUD still brewing in the distance and inflation rising, the WazirX crypto exchange report reveals valuable insights into Indians and their crypto assets.

Wake up with WazirX?

In the newly published report “Highlights and Observations of 2021”, one of the most famous crypto exchanges in India found that it had more than 10 million users and a trading volume of over 43 billion US dollars as of November 30th.

Additionally, WazirX announced that 82% of users had seen their crypto portfolio grow. However, this was true for the period up to November 30th. It’s worth noting that the December 4th crash would have drastically changed many users’ portfolios.

WazirX 2021:

82% of our users made a profit

$ 43 billion + trading volume

51% got into crypto because of friends and family

1009% more registrations from women

66% users under 35

44% of users invested 10% of the portfolio in crypto

Women bought #BTC while men bought #SHIB

– Nischal (WazirX) ⚡️ (isNischalShetty) December 16, 2021

While Bitcoin was the most traded crypto on the exchange that year, Tether was one of the high-ranking alts [USDT], Shiba Inu [SHIB], Dogecoin [DOGE], WazirX token [WRX], and Matic [MATIC].

The report found that Bitcoin’s share of the exchange’s total trading volume had decreased and suggested that

“It seems that more and more people and institutions are realizing that crypto is more than just bitcoin. This will pave the way for innovations in applications of popular altcoins such as Ethereum, Solana, Cardano and even Layer 2 solutions. “

In terms of user behavior, the report calculated that registrations from women had increased by 1009%. However, male registrations increased 829%. Interestingly, men mainly traded in Shiba Inu [SHIB], Women seemed to prefer Bitcoin.

More seriously, however, the report observed that the majority of WazirX users were under the age of 35. Research has also shown that the number of registrations in India’s smaller cities has increased by more than 700%. WazirX stated,

“It shows growing crypto adoption in semi-urban and rural India.”

Taking these findings into account, a bill on crypto regulation sounds like the next logical step. So what is happening on the legal front?

A surprising ‘India’ kator

While Indian crypto investors were expecting to see a law regulating crypto this month, the chances are it is no longer. A local journalist tweeted that the highly anticipated bill may not see the light of day after the winter session of parliament.

Changes expected in the #CryptoBill

The new crypto law may not come before this session of parliament

– Sonal MehrotraKapoor (@Sonal_MK) December 15, 2021

However, investors pointed out that India’s budget meeting is set to take place early next year and expressed hopes of seeing crypto on Parliament’s agenda in a few months’ time.

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