A February 2021 analytical report by eToro Ltd, a recognized venue for crypto investments, highlighted the need for more women involvement in the crypto scene. Etoro Ltd has been developing and operating an investment network along with a financial trading platform.
As per the report, there has been an increase from a mere 10 percent of female participation holding bitcoin on its own platform in 2019 to around 15 percent by 2020. Although this is a promising sign, it is more than evident that the increase is minimal. What could be the underlying reasons for less participation by women?
The reality is that the reason why less involvement of women in crypto transactions is multidimensional. Many reasons assume equal importance at some point or other.
According to industry observers, a possible reason for male domination in the cryptocurrency arena is the presumably less risk hostile nature of men. The risk element associated with crypto tends to be on the higher side.
This common perception of crypto being a male-dominated industry has also been a deterrent for many women.
However, with an increasing affinity towards crypto transactions’ lucrative features, this scenario is surely altering and is in for a bigger change in the coming years.
How Can Women Be Integral for Crypto?
Women must bring their skill sets into the crypto sector. The subject matter expertise required for crypto spans across several niches, ranging from computer science, finance, legal matters, or social sciences. Less participation by women clearly means the industry’s inability to utilize an entire group’s skill sets. What the current crypto industry needs is diverse participation across different age groups, skills, expertise or geographical location.
The blockchain industry can only be focused on leveraging its potential to ensure more financial inclusion, highly accessible education, and democratized services with all people’s participation irrespective of trivial aspects such as gender.
In other words, the future of crypto is dependant heavily on how many businesses and individuals opt to integrate them into mainstream day-to-day life. This is where women can play an integral role. Further, this is a great opportunity for women to be a part of the global economy and to earn significant income.
Studies indicate that many women participating in blockchain either intend to start their own ventures or are at top positions in technology start-ups or even established firms. The crypto space can really benefit from technological expertise across diverse niches. As investors, studies confirm women tend to be more judicious at investing and saving money.
Some of the Interesting Trends
Many of the new female entrants to the crypto scene are in search of micro-finance through the use of cryptocurrencies. This appears to be helping women, especially those belonging to underprivileged nations, to begin their own ventures and hold their savings in the form of crypto. For them, crypto eliminates the need for having bank accounts and paying multiple visits to banks.
Several women entering the crypto scene are stay-at-home mothers who intend to use crypto as a means to supplement the income.
Many women involved in the crypto arena play a pivotal role in enhancing awareness of crypto by speaking at technology conferences and events. To conclude, it is certain that the upcoming years would see more and more women across various niches and age groups being involved in the crypto space. It is also promising that a large percentage of women in the crypto space are taking an active interest in leveraging this industry’s benefits fully.
