Modern-day women believe that financial independence is of importance to them. However, women make up a small percentage of the crypto industry. According to research, women make up 15% of the industry, and what could be the cause of such a low number?
Why Women Stayed Away from Crypto?
When crypto started making the rounds, it was mostly men that were involved and it stayed that way for a while because cryptocurrency was viewed from the angle of tech and finance. Women at that time were not fully represented in tech so this may have been the reason why women stayed away from crypto.
Another reason is that women are wary of risk when it comes to investments and since cryptocurrency is known for Volatility, women would rather stick to other means of investment they understand.
The main reason according to female investors is that they lacked the familiarity of the asset class and because they’re not exposed to its system, they would rather not invest. While no one is stopping women from investing in crypto, little has been done to encourage them to partake until recently.
Change in Investment Trend
2020 was the year that changed everything for the crypto space. After the asset class was clarified in some certain regions, the market noticed a sudden increase in women investors in the industry. Many cryptocurrency platforms witnessed a whopping 1000% increase in the number of their women users.
According to a Crypto Engine, more women are willing to make an investment based on the recent education provided to them concerning the asset class. Interestingly, 93% of women have stated that they would be more open to investing in cryptocurrency if they were better educated on the subject.
What this recent trend proves is that cryptocurrency is not for men. Many crypto investors recently spoke about their experience and what they have achieved by making their investments. These testimonials stand as proof that more modern women are open to exploring cryptocurrencies nowadays. While it’s true that women still form a small percentage of the crypto community, women have been putting up a tough fight in the market.
Enabling Factor for Women in Crypto World
Two factors enable women to succeed in the cryptocurrency world. The factors are;
Women are savers. According to Fidelity Investment, women hold around 8.3% of their income in their savings with men holding about 7.9%. With more savings, women can diversify their investments into high-return assets.
Women are more successful investors. Women can evaluate the risks of every business idea and mitigate them in the best possible way. According to Merrill Lynch research, female investors tend to weigh risks before investing in an asset class. Hence, female investors can be more analytical with their investments. While investing in a volatile market such as crypto, their cautiousness nudges them into making the right decision.
Can People Bet on Crypto for Financial Inclusion?
Women are denied access to equal financial services in nearly 40% of the countries. Without the ability to open bank accounts and transact money, women lose opportunities to grow and succeed. The world is moving towards better financial inclusion but some parts still witness low participation by women.
Cryptocurrency can be the answer to liberating women from those shackles. Since cryptocurrency has no barriers to entry, you only need a smartphone with a good internet connection to handle your investments.
Considering that it does not require anyone to seek approval from a third party, crypto can be a powerful tool to help the world move towards financial inclusion and closing the gender gap. With easy access to various investment platforms, the number of women in the crypto industry can increase.