Why do women shy away from crypto?

Cryptocurrencies and blockchain technology are new technologies changing the scope of our world, and although the space is still relatively new, it's important to focus early on improving inclusiveness for the members of the community - especially women. Women are underrepresented in crypto-related and blockchain-related fields despite making up half of the population.

The reason for this lies in various factors, including a lack of education and awareness of digital finance, as well as unconscious bias against women. In this article, we'll discuss how we can work together to improve gender equality in crypto and create a more inclusive space for everyone involved.

Is the finance space the men’s club?

Throughout history, finance has been known to be a field for men. There have been misrepresentations at all levels of finance since time immemorial. Silicon Valley and Wall street, the two most popular finance institutions in the world, have been led by men until 2020 when the first female CEO of an american bank, Jane Fraser, stepped forward. This ended a decade-long history of having men lead banks, and we can only expect that it has broken the veil for many women to hold positions in finance.

Apart from the discrimination against women holding positions of repute in the finance space, assault, both physical and sexual, has been both subtly and boldly shown. For instance, a Bitcoin Conference held in North America fixed a part of the meeting to a strip club down in Miami. Apparently, it was a means to objectify women. Although the organizers apologized, the deed had already been done, and there was nothing that could be done to clean their tainted image.

Cryptocurrencies are believed to change a lot of things, from creating transparency in the financial space to offering better means of earning passively, its effects are largely understated, and the fact that there is no best crypto exchange makes the playing field more even . While the advantages are glaring, there is a lot of work to be done to allow it gat mainstream acceptance. From fixing the flaws with malicious actors, there is the need to avoid going the way of traditional finance, by increasing female inclusiveness.

Unsurprisingly, this segregation is not personnel-based. There are many, not just skilled, but highly competent women in the crypto space, but for reasons unknown, most crypto audiences target male audiences. A recent example was from the 2021’s list of world’s top 50 crypto figures released by CryptoHead. All 50 appreciated people were men, raising further suspicion as to the ingrained level of women underrepresentation.

Comparison with other financial instruments.

A CNBC-led research of the men and women involved in the cryptocurrency space, compared with other investment means, reveals a shocking discovery. The research looked majorly at three races living in the US; whites, blacks and hispanics.

First, Real estate is the most invested asset class amongst white people. The difference between the white men and women in this space is not as glaring as the distance between whites and other races like hispanics and blacks. Black women are the most underrepresented here, and there is equal representation between male and female hispanics.

Moving to bonds, there seems to be little interest across all groups in company-issued debts. Less than 20% of people from all the races analyzed invest in bonds with the least interests coming from blacks. Hispanics are equally represented here although interests still linger short of 10%.

All races showed an interest in stocks with lower prices and more volatile markets. Black investors were most likely to invest their money solely into these types of investments, while white people preferred having a bulk of their investments in stable assets like bonds or housing

The data shows that not only do certain demographics have different risk appetites; but also what they're looking for when investing varies significantly depending on race as well!

Cryptocurrencies are making waves in the investing world and it’s changing how we look at investment opportunities. With more people from all walks of life earning money through cryptocurrency investments, there is finally an even split between males who have been traditionally dominant as well hispanic or black investors when considering overall demographics on Wall Street. Although women are not as largely represented here, the ratio is much better than the traditional 3:1 which favored men.

Conclusion

Seeing as crypto is believed to be a way to bank the unbanked, it is strange that we have many women being excluded, since they account for over 54% of the world’s unbanked or 1billion women. Crypto is a way to create this balance, since it does not segregate by age or any demographic status.

There are a number of ways to improve gender equality in crypto. One way is to increase education and awareness about digital finance among women.

This can be done through events, meetups, and online resources that focus on teaching women about cryptocurrencies and blockchain technology. Additionally, it's important to create more opportunities for women to get involved in the industry.

This includes things like providing mentorship and networking opportunities, as well as promoting diversity within companies and organizations. By working together to improve inclusiveness for all members of the community, we can help build a strong foundation for the future of crypto.

Ultimately, it's important to remember that gender equality is a two-way street. Men need to be allies and advocates for women in the crypto community, and vice versa. By working together, we can create a more inclusive space where everyone can participate and thrive. Let's make crypto empowerment a reality!

Do you have any suggestions for how we can improve gender equality in crypto? Let us know in the comments below! We would love to hear from you! Thank you for reading. Until next time, be sure to follow us on social media and stay up-to-date with all things from Redot.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes