Cryptocurrency, long thought of as a predominantly male bastion, is quickly moving towards becoming gender-neutral. More and more women are now looking at cryptocurrency as a new investment avenue and are learning the nuances and nitty-gritty of crypto trading and successfully trading and investing in it. The constantly evolving crypto world has plenty of opportunities to offer that is being grabbed by women, thus shrinking the gender diversity.
However, according to research by BlockFi 1 , 92% of women surveyed have heard about cryptocurrency, with almost 1 in 4 (24%) already owning some. Approximately 33% of the respondents said they would buy cryptocurrency in 2022, with around 60% saying they would buy crypto in the next three months.
One in 5 women surveyed believed that crypto would help them achieve their big and small financial goals.
Moreover, globally 21% of crypto owners are women, and that number is growing fast.
According to some statistics in India, over the last year, new women investors on Indian crypto platforms have increased by nearly 1400 per cent compared to new male investors. What’s surprising is that these women investors are not just from tier 1 or metro cities but also tier 2 and 3 cities, indicating that crypto is gaining acceptance with women across all strata of society.
Unquestionably, these figures are very encouraging and indicate that the number of female participants in the crypto market can only increase from hereon.
Many women believe that crypto is not just for immediate returns but is a long-term business venture.
Along with other asset classes such as Fixed Deposits, mutual funds, stock, gold, real estate and more, crypto offers a new and exciting avenue for women to achieve their goal of financial freedom.
Overcoming the hurdles-
Although there are quite a few roadblocks still in the way of crypto gaining more acceptance with women, here are just some of the ways that crypto can become more easily accessible and exciting investment avenue for women in general:
- Digital literacy: Institutions must focus on making crypto education more simplified and practical for women to understand.
- Risk-opportunity payoff – Emphasis should be given to educating them about the risks and opportunities of cryptocurrency.
- Ease of Investment – There should be ease of trading and investing on various platforms with smooth deposit and withdrawal of money.
- Debunking myths- The myths and misconceptions surrounding crypto should be clarified, and all doubts should be addressed.
- Organizing workshops – There should be extra focus and impetus given to the inclusion of more and more women in the world of cryptocurrency by holding seminars, workshops, and education on social media platforms, camps and more.
- Easy to use- It should be promoted as an easy to use financial tool that homemakers and businesswomen can access as a primary or secondary source of income.
Although, there is still work cut out to bridge the gap of gender neutrality in cryptocurrency, but the foundation and ground are all set to reduce this gap in a brief period. It is only a matter of time before we see women as investors and traders and in management roles such as CEOs and founders of emerging crypto trading platforms. The future of crypto is gender inclusive.
Disclaimer
Views expressed above are the author’s own.