Dispelling Women-Related Stereotypes around Cryptocurrency Investment
Gender disparities have been a rampant issue in the financial industry for generations, with men accessing more opportunities and financial products than women. However, early cryptocurrency developers and investors hoped that the crypto industry would usher in a new era of inclusivity and diversity to eliminate these gender disparity issues by providing everyone equal access to financial products and investment opportunities. Despite this goal, there has been a long-lasting notion that all crypto investors are nearly men, with some reports terming the industry as a “boys club” and “a man’s world.”
Despite this popular belief that cryptocurrency is a male-dominated sector, recent research has shown significant growth in women’s involvement in the industry. One major reason for the shift is the unbiased and inclusive nature of crypto that allows all people worldwide to invest regardless of their gender, race, age, sexuality or disability status.
Anyone with access to technology and necessary knowledge on crypto trading, including women, can invest and achieve financial freedom.
Breaking Stereotypes
Although the cryptocurrency sector has been male-centric, that status is changing in recent years as women seek alternative ways of achieving financial independence. Even though the traditional economic structure is opening more to women, systematic barriers still exist that bar women from succeeding. Thus, emerging tech-based industries such as crypto are seen as alternative opportunities to empower women to achieve their financial goals since they are structured to accommodate everyone right from the start.
Reports have projected that the gap between women and men crypto investors will close soon, arguing that they are catching up and even outpacing men in crypto investments. For instance, 2021 saw a significant increase in women investors than men investors, with platforms reporting up to 175% increase in women users compared to an 80% increase in men users. According to a study published in July 2021 by NORC at the University of Chicago, women make up 41% of crypto traders and 38% of traders in stock investments. Such statistics indicate that modern female investors are diverting their assets toward cryptocurrencies rather than conventional investment opportunities.
Women use a structured trading strategy compared to men, which may have different financial outcomes in the long run. In 2021, the average initial deposit for women was $2,381 compared to $2,060 by their male counterparts, indicating that they were investing larger amounts. However, while male investors traded approximately five times daily, women traded twice, implying that they are more likely to take a smaller range of focused positions than men. This strategy is often used as a risk management strategy to lower investment risks in the crypto markets by limiting trades and sticking to a plan comparable to a budget.
Women Are Not Only Investing In Cryptocurrencies But Also Switching To Careers in Tech
Many women today are taking over important roles in the building of the digital finance world as developers and entrepreneurs. Many women worldwide have discovered that tech skills give them status and guarantee a professional future that does not include scrabbling for work in restrictive office jobs. Examples of careers they pursue include programming, cybersecurity, data engineering, and software development.
The growing number of women in tech leads to a higher female representation in technology that brings new dimensions to the scope of work. Besides increasing the pool of talented workers, it also allows breakthroughs in previously overlooked problems, including lack of diversity, unequal pay, and gender-based discrimination in job promotions.
In relation to the cryptocurrency industry, this increase in women in tech suggests that more women have the knowledge and skills required to develop blockchain technology as well as invest in different digital coins. In this case, women are more empowered to be part of the growing crypto sector worldwide. Examples of these women paving the way and empowering others to be part of the crypto industry include Meltem Demirors, Joyce Kim, Laura Shin, Michelle Phan, Kelly Loeffler, and Ani Itireleng.
IXFI understands that education and access to resources are important in breaking the stereotype and inspiring more women to succeed in crypto. You may want to read the series ‘Women in Crypto’ on our Medium blog. Subscribe and register to access these educational resources and begin your trading journey with Your Friendly Crypto Exchange towards a financially independent future.
Disclaimer: The content of this article is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial and fiscal circumstances.
Although the material contained in this article was prepared based on information from public and private sources that IXFI believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and IXFI expressly disclaims any liability for the accuracy and completeness of the information contained in this article.
Investment involves risk; any ideas or strategies discussed herein should therefore not be undertaken by any individual without prior consultation with a financial professional for the purpose of assessing whether the ideas or strategies that are discussed are suitable to you based on your own personal financial and fiscal objectives, needs and risk tolerance. IXFI expressly disclaims any liability or loss incurred by any person who acts on the information, ideas or strategies discussed herein.
