- Experts have said that a lack of technical knowledge related to cryptocurrency could keep female investors away.
- They said more inclusive bitcoin promotional materials and better financial education were needed.
- Investment platform eToro said only 15% of bitcoin traders were women, up 5 points from a year ago.
Women may not be investing in cryptocurrencies due to a lack of technical knowledge, attendees at a meeting organized by Coinmotion for International Women’s Day by women in the crypto industry suggested .
New investment platform data eToro said only 15% of bitcoin traders were women, up 5 points from a year ago.
However, the platform reported that women were joining at a faster rate than men in December, with a 366% increase in signups compared to 248% for men.
Coinmotion Oy CEO and Board Member Heidi Hurskainen said women often want includes everything on an asset before investing and it was therefore important to deepen one’s technical knowledge.
“The number of women investing has increased over the past few years,” she said. “I think the problem here is a fear of overly technical questions.”
Cryptographic solutions and inclusivity
Observatorio Blockchain director Covadonga Fernández highlighted the importance of including women in blockchain-related photos, which were typically dominated by Men.
“In Spain, men and women do not have a particularly developed financial education at the individual level,” explained Fernández. “I think there is no awareness that we lack financial education. We should start in schools.”
Meeting attendees also highlighted the power of cryptocurrency in countries where a large portion of the population did not have bank accounts.
CSO and founder of EthicHub, Gabriela Chang, said half of Mexico’s population did not have a bank account, which dramatically increased the amount of interest they had to pay if they wanted to use the banks.
“We need to stop viewing economic inclusion as charity,” Chang said. “We’re talking about huge potential for mutual benefit.” She said that in countries like Venezuela where the value of the local currency depreciated, access to an “alternative economic system” was essential.
Musician Grimes made $5.8 million in less than 20 minutes selling crypto-based artwork.
Jason Kempin/Getty Images
Alastria Blockchain Ecosystem CEO Montse Guardia said it was important for women to be able to write code and highlighted the misogyny still rampant in the industry.
“It’s an area where there is still an unbalanced majority, there is no mix,” she said.
The women offered solutions for women’s empowerment within the industry, with Chang suggesting that women’s projects be prioritized while Hurskinaen stressed the importance of women’s networking and mutual support.
The Growing Cryptocurrency Industry
Hurskinaen said interest in tokens was growing rapidly and that there was “a shift in that direction” with many companies entering the industry.
However, she said the change was more pronounced in the United States than in Europe.
From crypto albums at digital artwork, the trend is upward. Musician Grimes, whose boyfriend is bitcoin fanatic Elon Musk, made $5.8 million in less than 20 minutes by selling crypto-based artwork.
Large companies including Tesla and Mastercard said earlier this year that they would support bitcoin as a form of payment, causing its price to rise.
“Regulation is really at the root of the problems,” added Hurskinaen, suggesting that a lack of clear regulation made it difficult for businesses to work with banks.
