Increasing Women's Participation in Cryptocurrencies
Cryptocurrencies have revolutionized the world in recent years. Why can this be a great opportunity for women to invest in them?
The Woman Post | Ariel Cipolla
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Bitcoin changed the way people invest money. For a long time, the possibility of buying shares and even "tangible" valuables, such as gold, was used to speculate on their future price. However, since this cryptocurrency appeared, the financial perspective took a 180-degree turn.
When it was launched in 2009, very few would have imagined the price it would have right now. After reaching an all-time high in the first months of this year, Bitcoin stabilized and had a significant decline. However, it can also mean a great opportunity to buy cheap and speculate on the value in the future.
Best of all, there are hundreds of cryptocurrencies. Just as there is Bitcoin, there are also other very important variants, such as Ethereum, Cardano, or XRP. Well, the truth is that this activity (like investments in general) is very much associated with men, but it can represent a great opportunity for women to achieve financial independence. Let's see why.
Cryptocurrencies and Women
The first thing we should say is that there are really favorable signs regarding the insertion of women in traditionally hostile fields. For example, a survey provided by Gemini revealed that, in the UK, more than 40% of professional crypto investors are women.
Another data, provided by CoinCorner, indicates that the number of women who inserted themselves in cryptocurrency investments grew by 43% since the first quarter of 2020. Even, the percentage rose to 65% in the segment corresponding to those between 18 and 24 years old, which demonstrates the generational change. Therefore, it is likely to be the new generations of women who will make this paradigm shift.
Despite all these favorable trends, the truth is that many of these women use it as a "resource" to try, although they have no specific education on financial markets. In other words, they never abandon the nickname of "amateur investors" and can never consolidate to dedicate themselves 100% to crypto trading.
For example, it is very common for advice given to women on organizing finances to focus on spending and not on smart investment strategies. This may be due to the conservative view that women waste money and are not fully capable of choosing the right asset to put their trust in.
Also read: PANDEMIC AND WOMEN'S FINANCES IN LATIN AMERICA AND THE CARIBBEAN
If we think about it in historical terms, in the United States a woman needed her husband's permission to open a bank account until the 1960s. This reveals that the system itself excluded the possibility for women to invest and concentrate on the economy, although the trend has been reversing in recent years.
While not all women are investors, the truth is that the increase in interest is one of the most positive variables going forward. For example, according to a Greyscale investor study, 47% of women consider investing in Bitcoin, which represents a substantial improvement from the same study but occurred in 2019, which resulted in 43%.
For that, 100% female role models are needed. The fact that successful women in cryptocurrency investments will help many others abandon the historical prejudice of "wasting" and use their savings to bet on one of the most promising assets on the planet.
Knowing that there is a multitude of cryptocurrencies, it is not even necessary to focus on Bitcoin. On the contrary, it is possible to speculate on many other cryptocurrencies with a huge future and generate a community that will allow all to acquire real financial education. Women can help each other understand graphs and statistics without any prejudice.
Even if cryptocurrencies are to rise in value, men should encourage women's participation in this industry. The more people interested in these assets, the better overall results there will be. That is why more and more crypto women need to be willing to make financial decisions with full autonomy.