Crypto-Powered. The Next Generation of Tech and Finance Is Ready for Women
05.07.2022 | 4 min read
At first glance, the crypto sector appears to be an equal playing field, yet there is unmistakable male dominance inside it. There are two male investors for every female investor, which seems like a holdover from a time when men were in charge in the areas of finance and technology. But things are getting better for women, and more and more doors are opening.
Despite multiple all-time highs and spectacular drops, people’s interest in crypto has been skyrocketing for a long time since. The industry went a long way from a niche concept for tech zealots to consumers’, investors’ and institutional darling.
Today people can purchase regular products and services with crypto. Also, the majority of investors use cryptocurrencies in the same way they would conventional assets, like stocks or gold. When it comes to investing in cryptocurrencies, it might be risky due to the extensive amount of research required in order to properly comprehend how each system operates
Using cryptocurrency on a daily basis has become a common thing, but in recent times there has been a focus on creating a digital environment where individuals can participate completely by having digital currency as a necessary means of payment — in a Metaverse.
How Diverse Is Crypto?
Although the crypto sector appears to be a land of endless possibilities, one thing seems like a relic of the past. Crypto is getting male-dominated.
According to the Pew Research Center, only 19% of women in the 18-29 age group have invested in, traded in, or utilized a cryptocurrency compared to 43% of men in the same age group.
Also, Women's employment in technology has grown gradually but steadily, and they now account for roughly 20% of all positions. 17% of IT company founders are women. There has been a lack of female participation in the field of blockchain technology, though. Fewer than 5% of cryptocurrency investors, developers, and entrepreneurs are women. Males, on the other hand, have a greater interest in blockchain technology.
First off, male-dominated areas like finance and technology have produced many of today's leading bitcoin and blockchain startups. Second, even in the blockchain and crypto businesses, there aren't as many women as their male counterparts.
According to a survey from 2019, women make up between 4% and 6% of persons in the development, investment, and casually interested industries.
It’s Now or Never
Nonetheless, many people claim that things are starting to change and now is the perfect moment for women to leave their mark on the future of the crypto industry.
“If you think about crypto, we are combining finance, which is dominated by men, with computers. It sounds very technical and perhaps less aimed at women. But, having said that, it is beginning to turn. Blockchain technology is not just about cryptocurrencies and tokens. There are lots of other areas of blockchain that can be more appealing to women," said Soledad Contreras, Director Of Partnerships at CoinDesk.
What Attracts Women to Crypto?
The most common purpose is to gain more money (57%). In third place is the want to try something new (50%), followed by the desire to become financially secure (25%).
One of the most appealing aspects of the crypto sector for women is the freedom it provides. As a result, they have the freedom to make their own decisions and manage their finances, as well as a wide range of assets for investment/trading, a variety of ways to produce money, etc.
The crypto industry provides plenty of opportunities for women. There is an increasing number of artists, programmers, entrepreneurs, and investors that are sure that cryptocurrency is here to stay, and that women can't afford to procrastinate learning about it and determining whether it matches their financial strategy and risk tolerance.
“If you think of the Metaverse, for example, we've barely scratched the surface because many people think of it as being about gaming, but this is not just gaming. It presents a huge opportunity for consumer companies. There will be lots of opportunities for women to purchase clothes, accessories, and jewellery. There are some incredible jewellery collections that women can wear in the Metaverse," said Soledad Contreras.
Job Opportunities inside Crypto
The rise of crypto has also spawned a completely new market of jobs in the finance, crypto, and blockchain industries. The number of job openings in the crypto industry is expected to increase by about 400% between 2020 and 2021.
“Slowly but surely, companies are changing the way they recruit. There is a massive movement underway. We are attempting to change the language that we use when we are hiring, and the way we write ads or look for talent. It is something that is on the minds of many recruiters. One can find that there are a lot of support networks for women in crypto and web3," said Soledad.
How to get more women involved in the industry? First, it’s also important to talk openly about crypto. A friend, coworker, or other close family member is the most common source of inspiration for women interested in crypto. According to a third of respondents, this is true.