Although the crypto world saw a huge gender imbalance in 2020, there has been a steady increase in women who are trading cryptocurrencies ever since. Sure, when cryptocurrency first arrived on our doorstep, it seemed like it was from a science fiction movie.
However, it has become apparent that Bitcoin and other digital currencies are here to stay as they reach new levels of investments and recognition. Early this year, Tesla converted $1.5 billion of its balance into Bitcoin making it the first major automaker to do so. This bold move by the American automotive clean-energy company has given rise to a new wave of female crypto traders.
Meanwhile in Malaysia, more women are leaning towards crypto trading as they look for means to achieve financial independence. Luno marketing and partnerships lead, Scarlett Chai, also revealed that after its launch in 2019, with an average of 12% female users has steadily grown to 20% this year. Indicating that more women are venturing into the ecosystem of cryptocurrencies, with diverse career backgrounds, including education, accounting and healthcare.
This is due to easy-to-use consumer apps that allow individuals to invest with the tap of a button. For instance, apps like Paypal, Cash App, Celsius, and Voyager, allow users to easily invest anywhere from $5 to $50,000 in not just Bitcoin but other upcoming cryptocurrency and blockchain technologies.
In the UK, a research conducted by Dacxi found that women were skeptical about investing because; they lacked the confidence, understanding and the “fear of the unknown” made them less inclined to trust the digital currency.
A poll by Dacxi showed that 41% of women wanted to invest but were afraid to do so because they lacked the necessary knowledge and 97% of women were motivated to invest for the long term financial plans. Hence, the birth of the “Women Who Crypto” movement by Dacxi provided women with the rudimentary knowledge needed to invest by launching a certified crypto-coach programme.
With more women tapping into the world of digital trading, the once, “only boys club” is being empowered by a steady stream of female crypto enthusiasts. Not only is this an opportunity for women to break away from the traditional ways of earning money, but it allows them to have a sense of financial security.
Besides, with more people learning about cryptocurrencies, it’s important that more women use their skills in a market that has the potential to provide them with positive long-term advantages.
Read more: Banking on Bitcoin Against Inflation
