Cryptocurrency has experienced many ups and downs since it first launched with Bitcoin in 2009. Its position as a decentralized alternative to fiat currencies has given it lots of consumer support, and the business world is starting to wake up to it.
Despite its accessibility, female crypto ownership is only around 30%, and making it a more attractive proposition to more female investors can help to improve the market.
Inclusion is essential in all walks of life, and Fintech equality should be promoted to provide greater financial independence for all users. One way to do this is by keeping up with the latest crypto market news. A better understanding of the technologies being used and how different cryptocurrencies should encourage more diverse investment demographics.
Women in Crypto
While 30% of crypto investors are women, this represents just 10% of the female population. This contrasts significantly with figures that show approximately 17% of the total population has invested in crypto.
Of the women involved in crypto investment, the largest percentage are between 18 and 29 years of age with 16%. This far outweighs the 5% of women 50 and over who have crypto investments.
Getting Started in Crypto
Statistics that show younger generations’ acceptance of cryptocurrencies make sense, as they will have grown up with online services and products as a part of day-to-day life. This includes digital banking and payment technology.
In order to get more women into crypto investment, more light needs to be shed on how it works and its benefits. This will help to transform it from a confusing and intimidating industry to one that is more welcoming.
How Crypto Works
Cryptocurrencies are decentralized digital assets that can be transferred securely using cryptography. A computer network is used to move crypto so it does not need to rely on a central bank or government.
Blockchain technology is used as a distributed ledger to record transactions and makes it difficult for cybercriminals to hack or tamper with.
Crypto Exchanges
Cryptocurrency exchanges facilitate the purchase or sale of crypto, and consumers will create accounts to do this. There are a variety of crypto exchanges to choose from so consumers must take the time to find reputable options.
Crypto Wallets
Crypto wallets differ from traditional wallets in that they don’t hold your cryptocurrencies like a regular wallet would hold cash. Instead, crypto wallets are used to store the private key used to access your crypto.
Users can choose from online crypto wallets or offline options that can be stored on hard drives for greater security.
Crypto Advice for Women
Crypto investments can be a fun way to explore digital assets. Starting slowly can help investors get a better understanding of how the market works and can also help to diversify portfolios.
While many will wish they could have put all of their seed money into Bitcoin during its infancy, the risk of putting all of your eggs in one basket can make similar investments in emerging crypto unwise.
Starting slowly with basic investments in already established cryptocurrencies will carry the least risk. Many new crypto projects fail so diversification provides the best security net.
Crypto Investment Strategies
While crypto is the most obvious investment opportunity in the digital asset field, it is not the only one. Diversifying your investments in crypto is one thing, but you can also invest in crypto companies or those involved in the industry.
Crypto Security
The use of cryptography and blockchain ledgers makes crypto investment one of the more secure options on the market and its transparency makes it easier for third-party auditing.
The best way to ensure your crypto investments are secure is by thoroughly researching the crypto exchange. Search online for independent reviews and trust scores before signing up.
Try to avoid using passwords you use on other sites. While this can make it significantly easier for users, strong passwords provide a great deterrent to cybercriminals. Two-factor authentication will also provide you with an additional layer of security.
Key security is essential for keeping your crypto secure, and offline facilities can protect against cybercriminals’ sophisticated techniques. However, this option means the user then has a physical asset they must keep secure, and keeping it in a safe is recommended.
Female Crypto Communities
Cryptocurrency is a relatively new financial asset and does not have the same level of official organizations as traditional investment opportunities. This has resulted in communities growing where crypto investors can share valuable information and investment techniques.
Many of these communities are male-dominated, but there are a growing number of women-only spaces that make the learning experience more appealing.
Financial Autonomy
Financial autonomy and independence are important to more than 80% of women and cryptocurrency facilitates this. Cryptocurrencies can play a big part in helping women around the world achieve this.
Crypto can be an option for women living in “traditional” societies where they don’t have as much financial freedom. Access to bank accounts and ways to earn money can be restricted, but crypto can provide an alternative.
This is also important in, so-called, developed nations where high levels of domestic abuse can make easy access to finances challenging for some women.
Conclusion
The gender imbalance in crypto investment is something that can also be seen in tech industries. Just 29% of those working in IT, design, and testing roles are female, and this number drops to 20% for software engineering.
One reason for this is that women are less likely to invest in general with fears over risks and a lack of trust in the market. One way to
assuage these fears by providing women with the tools necessary to learn about the market.
A better understanding of the industry, startups, and potential risks can help potential investors make informed decisions that could give them greater financial freedom.
Cryptocurrency has weathered the storm and proved itself to be a valuable financial asset, and getting more women involved in its development will further solidify its position.
