Although cryptocurrency culture is built upon the principles of democratizing money and leveling the financial playing field, women often hesitate to invest in crypto. Men invest in cryptocurrencies at a rate twice as high as women.
According to information provided by Abide Gülel, co-founder of the cryptocurrency education and consulting platform Lexcio, globally, only 15% of women invest in crypto, while the rate for men is slightly over 38%.
So, what holds women back? Abide Gülel shared the following insights:
MOST WOMEN DON’T UNDERSTAND CRYPTO
“Both men and women who avoid crypto are likely doing so because they don’t understand it. However, they don’t really need to understand it. It’s not that difficult. It’s new, and people will always be resistant to something new.
THEY LACK CONFIDENCE IN SECURITY
Women are half as likely as men to avoid cryptocurrency. This is because they shy away from the notorious volatility of cryptocurrencies.
One in four women, compared to about 30% of men, lacks confidence in crypto security. In theory, blockchain is the most secure technology that exists. Security vulnerabilities lie in wallets and exchange platforms.
WOMEN ARE CAUTIOUS ABOUT UNREGULATED INVESTMENTS
Both men and women (around 17% and 19%, respectively) avoid crypto investments because they are not regulated. Investor protection laws related to cryptocurrencies need to be enacted.
The recent collapse of the cryptocurrency market understandably made investors cautious.
Legal frameworks for the crypto space will help make it more widespread.
IS CRYPTO JUST A FAD?
About one in five women and similarly 18% of men don’t believe in the long-term future of cryptocurrency. However, the crypto market is here to stay.
IN AUSTRALIA, WOMEN INVEST IN CRYPTO AT A HIGHER RATE THAN MEN
On the other hand, women in Australia invest more and at a higher rate in the cryptocurrency exchange market than men.
Last year saw a 175% increase in female users, overshadowing the 80% increase seen in male users. Currently, in Australia, women make up 27% of the cryptocurrency investors in the sector. This year, 43% of prospective cryptocurrency investors in Australia are women.
In Australia, the U.S., and Europe, almost half of those who plan to buy cryptocurrency in the next 12 months, but currently don’t own any, are women.”
For detailed information:
Abide Gülel, Esq.
0212 465 08 48
Huzur Mah. Azerbaycan Cad.
Skyland Sky Office B Block Floor: 32 No: 456-457-458
Seyrantepe Sarıyer / İstanbul