A study conducted by research firm BDC Consulting revealed significant data about women in the crypto space. The study 'Bitcoin under Female Thumb' analyses influencing factors to determine how women users make decisions about cryptocurrencies.
Women in crypto is a growing movement, with a growing base of female traders, top-level workers, and retail investors, who contribute to the total number of crypto users worldwide. Nonetheless, the number of women in crypto pales in comparison to male users.
The crypto world’s gender imbalance reflects the imbalance of women in fintech, an area that is still overwhelmingly dominated by men. Nonetheless, women are making moves in crypto, and the study provided by BDC Consulting goes into the reasons that drive women to participate in this nascent industry.
One of the leading factors that motivate women to engage with crypto were revealed to be influence from personal networks that inspired or infirmed them about cryptocurrencies, including partners, family members, and colleagues. Chloe White, the National Blockchain Roadmap Lead brought up the significance of personal networks as an influencing factor in women’s role in blockchain:
“Men often ask me why more women aren’t interested in Bitcoin and digital assets. I tend to ask them this question in response: who first told you about Bitcoin, and, in your daily life, who do you find yourself discussing crypto with? Answers often reveal that men tend to raise this subject matter with other men, far more than they do with women, and I believe that this tendency makes a significant difference to the gender balance at community meetups, in online forums, and to the shape of the industry as a whole.”
The study noted that every third woman in the study acknowledged that the main reason for their interactions with cryptocurrency was influence from a personal network. And that the second main factor, was the ‘abundance of news about crypto’.
“The second most important factor is the abundance of news about cryptocurrencies (17.7%). It is not surprising: after such high-profile media stories as Bitcoin overcoming several historical records and saga about Tesla, Musk and Bitcoin, many people want to invest in cryptocurrencies themselves.”
Finally, the study noted that gaining employment in crypto was the third most popular reason women are engaging in the industry, with 15.7% of participants citing this as their influencing factor.
Gender imbalance in crypto needs to be addressed, as it does in other industries around the globe. Studies such as the one listed, provide insight into the factors that can lead to further inclusivity, and can be used by organizations to attract more women to the crypto space.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.