Research shows the first six months of 2018 experienced an increase in women considering cryptocurrency investments, from 6 percent to 13 percent.
Females are Financially Informed
While demand and interest in cryptocurrencies have fallen over the year, cryptocurrencies have gained more popularity with women. Approximately 20 percent of female millennials are now keen to invest in cryptocurrencies.
There was however not much growth when it came to cryptocurrency investments for men in 2018, which was a surprising shift in the growth audience from men to women. The research also suggested that women were more likely to be strategic when it came to cryptocurrency investments.
Agnes de Royere, a senior business analyst at the London Block Exchange (LBX), said:
“There’s still a common misconception that cryptocurrency is a game for men, but we’ve seen hundreds of women sign up for our exchange in the last few months and some of the most inspiring and knowledgeable investors, leading the way in the industry are female.”
The study observed men are not as open to collaboration as women when it came to purchasing digital assets. Women were twice as likely to discuss and talk to family and friends before making decisions. On the other hand, men preferred to invest alone.
The research was conducted by the London Block Exchange, a U.K.-based cryptocurrency exchange.
Women in the Cryptocurrency Industry
While the numbers appear small, many women are leading the way.
In 2016, Meltem Demirors, a founding team member of the Digital Currency Group (DCG) published several statistics concerning the number of females in the cryptocurrency industry.
Of the 944 people in DCG’s portfolio companies, only 163 people were women, which make up 17 percent. Surprisingly, 23 in 67 companies did not employ a woman at all.
The data suggested that women are not often involved in the early stages of a startup since the most common role for women is an executive assistant, office manager, PR, Marketing, Communications, Regulatory, Compliance, and Finance. There were also only four female engineers in the sample.
“There’s a massive opportunity here to change the global financial structure, to change a lot of ways that society interacts with technology,” said Elizabeth Stark, the CEO of Lightning Labs, “And it is crucially important that women participate.”
All-Women Panels at Cryptocurrency Conferences
While many people are trying to increase participation of women in the blockchain and cryptocurrency sector, Anastasia Shvetsova, the managing partner at M&A PR Agency, mentioned a summit where there was a Pink Room, a place designed specifically for women.
“This was a rather offensive, yet telling sign of the industry,” said Shvetsova to Forbes. “We should be using emerging industries like blockchain to end the stigmas of gender in technology, not to bolster it.”
Arianna Simpson, the managing director at Autonomous partners, has been a part of all-women panels:
“What really gets me is that the majority of the time the women on these gender-specific panels aren’t talking about the most important topics.This isn’t the right approach.”
Researchers Seek Answers to Gender Gap in Cryptocurrency Investing
A study called “Risk and Reward Are Processed Differently in Decisions Made Under Stress stated:
“Stress amplified gender differences in strategies during risky decisions, with males taking more risk and females less risk under stress.”
Cryptocurrencies and blockchain are relatively new and emerging technologies. Careers in these sectors can involve making many new and risky decisions that can cause higher stress.
However, Perianne Boring, the founder of the Chamber of Digital Commerce, a DC-based trade association for the blockchain industry, believes regardless of the underlying reasons “women are naturally better communicators, and on a mass scale, people [largely] don’t understand what Bitcoin is.”