Uniting Women In The Crypto Space

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Cryptocurrency is making its way into more and more headlines these days. While it has been around for a while, it hasn’t quite become totally ‘mainstream’ yet. Plus, crypto is about more than just money or currency. There are many facets of getting into crypto, whether that means buying cryptocurrencies, working at companies harnessing their power, or partnering with companies using blockchain. In particular, crypto and blockchain have some interesting ties to women, as shown by some recent surveys. 

Women Investing in Crypto

NORC from the University of Chicago announced the results of their crypto-focused survey in July of 2021. One thing they found is that most people investing in crypto or trading crypto are under age 40. These crypto investors mostly don’t have a degree from a college or university. 

About 44 percent of the crypto traders, according to their survey, are not white. And, just over 40 percent of those traders are female. 

Angela Fontes, a vice president in the Economics, Justice, and Society department at NORC at the University of Chicago was quoted in NORC’s news release, saying, “Cryptocurrencies are opening up investment opportunities for more diverse investors, which is a very good thing. It will be important that these investors have access to sound information as they make decisions related to these often more volatile investments.”

Why People Don’t Buy Crypto

That same survey from the University of Chicago asked people why they didn’t want to trade or invest in crypto. Surprisingly, it’s not necessarily that the survey respondents didn’t have access to funds that would allow them to invest, though that was a reason for 33 percent of participants. 

Rather, about 62 percent of them said they didn’t really get crypto well enough to feel comfortable investing in it. Other worries were about how secure crypto is, not understanding how to invest, and the market swings associated with crypto. 

“Cryptocurrency is a relatively new option for retirement funds. Potential investors are leery of investing their retirement savings into what has been, to date, a fairly volatile investment,” says Mark Lush, a manager in the Economics, Justice, and Society department at NORC (as quoted in their news release). “Cryptocurrencies may have staying power as an investment option, but our hunch is that they will continue to lag behind more traditional investment opportunities for the foreseeable future.”

Can Crypto Boost Women in Business?

Beyond investing in crypto, Techopedia highlights that crypto and initial coin offerings (ICOs) could combine to create some great opportunities for women in business or leadership roles. 

Specifically, they note that ICOs focus more on ideas rather than how people identify. In theory, that could mean that an ICO would be looked at for its own merits, rather than the gender of the person behind it. 

Next, ICOs could help women-founded startups do their own fundraising. That’s thanks to the less expensive and less burdensome regulations that generally surround IPOs. 

Finally, Techopedia says that adding more females to the world of blockchain simultaneously removes obstacles for women wanting to be in leadership roles. Over time, perhaps that could result in an elimination of gender disparities in leadership and the workplace.

Uniting Women in Blockchain

In addition to women trading crypto and using ICOs for business advantage, one organization is dedicated to bringing women in blockchain together. Global Women in Blockchain (GWB) wants to harness the partnerships of women in various industries involving blockchain. They’re a nonprofit organization hoping to bring more diversity to the world of tech. 

The Power of Crypto

As crypto and blockchain continue to gain popularity, it’s worth noting whether the numbers of men and women involved in these technologies keep pace. Crypto holds some potential to give women a boost in business via ICOs, and organizations are already forming to unite women in crypto. 

 

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