Rise of women investing in Cryptocurrency.
For the longest time the world of cryptocurrency has been lead predominantly by men. We witness a clear gender gap in cryptocurrency investments since the very beginning. Women now in all arenas of life take charge and make their presence felt and valued. Yet when it comes to cryptocurrency, we comprise a small percentage in this space. But, we can see a gradual transition over the last 3-4 years. The number of women acquiring financial independence and security has increased. There is a visible rise of women investing in cryptocurrency.
Social psychology postulates, women are less of risk takers as compared to men. They assess and are prone to weighing all the risks before taking action. Another reason why women stayed away from cryptocurrency could be it’s purely technical and financial base. Keeping in mind the volatility of this sphere. Most stuck to traditional investments like gold and property. Today many refer to cryptocurrency as digital gold due to it’s investment and return value.
Sudden spike of female crypto investors.
There is nothing stopping a woman from doing as she pleases. Provided she is given ample education and encouragement. A study reveals that female investors lack familiarity of the new asset class. According to Grayscale Bitcoin Trust 93% women wish to invest if only they were properly educated on it. Ergo, women have been averse to investing in cryptocurrency and/or stock market. Overtime we have seen investors coming not just from metropolitan’s but also tier II, III and IV cities.
Ever since the 2018 RBI crypto ban was lifted, clearing the legalities of dealing within crypto. Coupled with the pandemic and repetitive lock down situations. Many have had the opportunity to enlighten themselves upon this subject. e Various app’s like waWazirX and CoinSwitch Kuber have made several attempts to simplify cryptocurrency for all. It’s become so easy that anyone with an internet enabled device can start investing without much hassle. There is a remarkable increase in the number of women in the user base data provided by these crypto exchanges. At WazirX the number of female users has grown by 9000%. Over 15-20% of the investments are being done by women.
Encouraging women to dabble into Crypto
Most women have two qualities any avid investor must possess. Women are innate savers. Studies have revealed that women hold more of their income in savings as compared to men. Larger saving means ample amount available for investment. Women can be more analytical when it comes to making investment decisions. They assess the risks beforehand and proceed with caution. Something everyone should do while dealing in a highly volatile market.
Bridging the Gender Gap
Women have usually sought guidance from the men in their lives when it comes to money matters. I believe if we have the ability to earn money we should be the one’s deciding where to put it. The entire idea behind cryptocurrency is decentralization. Just how cryptocurrency aim’s at eliminating the third party, we must do the same to liberate ourselves. With over 7,000 coins to choose from and plenty of easy exchange platforms. The involvement of women in this sphere can increase furthermore. Initiatives must be made in order to bridge the gender gap and make it a more inclusive space.
This can be done individually through broadening our research and knowledge of the asset class. Seeking the help of professional experts in the field. By interacting with fellow investors. Learning from them and their experiences. This is a constantly growing community. We have at our disposal various crypto organizations, forums and platforms that readily provide us with all the matter one might need prior to investment.
Historically speaking when it comes to investments, women have selected an asset class that has strong fundamentals and promising returns. Stats tell us that apart from everyone’s favorite Bitcoin. Women have also invested in Ethereum, Ripple, Tether and Cardano. Within the last 4 years India witnessed a 1040% rise in the number of female investors. In 2021 a quintuple spike in this number has been predicted. If this continues we might soon see a gender equality draft in the cryptocurrency world as well.