New Data Shows Women are Interested in Cryptocurrencies Too
New data reveals that more women are joining the cryptocurrency space. This shows that crypto is far from a man’s game, and holds universal appeal.
Data gathered by CoinMarketCap, a subsidiary of Binance and one of the world’s biggest crypto market data providers, shows that women are jumping into the cryptocurrency space as well. The number of female users from January to March of this year increased by a massive 40 percent.
From September to December of 2019, women only made up 15.5% of CoinMarketCap’s crypto users database. From January to March of this year, the percentage of women in the database moved up to 21%.
Using Google Analytics to hone in on their users according to continent, CoinMarketCap surmised that the biggest growth in female users were found in Europe, followed by America. These two are followed by Oceania, Asia, and then Africa.
The most notable increase in female users per country was found in Romania and Greece; the percentage of their growth was over one hundred percent.
Finally, the increase in CoinMarketCap data revealed that there was a 65% increase in female crypto users between the ages of 18 to 24 years.
There is no definite answer as to what causes the gender disparity in the financial industry as a whole. Historically, men have been more likely to take positions as investors and the same trend can now be observed for cryptocurrencies. One reason most people attribute this trend to is because investments can come with significant risk, and not a lot of women are willing to take it. These risks are heightened when considering something as volatile as digital currencies.
This aversion to risk is reflected in the response that CoinMarketCap received in a survey. As expected, women were more cautious of the risks; when asked to pick between wealth and financial security, over 60% chose to go for the latter.
Another possible reason is that there could be a gap in the educational opportunities that are available between men and women.
The year 2020 is a difficult year for many industries and people. However, cryptocurrencies appear to be less affected. The number of women entering the cryptocurrency space is steadily rising and awareness is spreading across a variety of channels. In addition, organisations that are geared toward providing education on cryptocurrency and blockchain technology also exist, such as the London Women In Bitcoin.
You go girls!