Almost Half of Women Know How to Buy Crypto, But Majority Can’t Justify the Risk

Red-haired woman holds bitcoin gold coin in her hand stock photo
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The gender gap in knowledge concerning all things related to cryptocurrency investment is nothing new — however, there are encouraging signs that women are increasingly participating in the space, according to a new survey.

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A new BlockFi survey, “Real Talk: Women x Crypto 2.0,” found that while many women view crypto as a means to achieve financial goals, an education gap persists — and while crypto curiosity is increasingly translating into practical intent and investment, some skepticism remains.

Indeed, the survey found that while 45% of women polled say they understand how to buy crypto, 80% say it’s still confusing and a whopping 72% say it’s too risky to invest in.

Dawn Newton, co-founder and COO of Netki, told GOBankingRates that the increase in women who feel they understand crypto is a sign of growth for the industry, and one of the most important things about crypto is that it is equally accessible to anyone, regardless of gender, race, or geographical location.

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“While 72% of women may feel like it’s too risky to invest, I think that as they discover this space in greater numbers and see how much more room this sector has to grow, they in turn will likely come around to investing in crypto in much greater numbers,” Newton said.

In terms of which cryptos they buy the most, bitcoin is by far the favored one. A full 71% of respondents who owned crypto held bitcoin, followed by dogecoin at 42% and ether at 18%.

In addition, one in three women surveyed are planning on purchasing crypto in 2022 — and one in five women believe crypto can help them reach their financial goals.

Rebekah Keida, director of marketing at global cryptofinance firm XBTO, told GOBankingRates that it “doesn’t shock me that one out of three women plan to buy crypto in 2022. Bitcoin has a proven track record — it continues to exist and evolve, while presenting an intriguing opportunity for economic transformation.”

“In fact, I know a surprising number of women who bet early on crypto ‘alt coins’ (mostly ethereum) and now never need to work again. Although that’s not the norm, the opportunity for economic transformation is widely intriguing,” she said.

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Another interesting finding suggested by the survey is that women’s interest in crypto extends beyond investing to include careers. With crypto-related job postings up nearly 400% in the past year alone, about 10% of women surveyed believe crypto is the most promising career sector — twice the number of respondents who said fintech.

In addition, 15% of women polled said they are interested in a career in crypto, with approximately 10% planning to apply to a role at a crypto- or blockchain-focused company in the next year.

Elizabeth Kukka, chief operating officer of Masa Finance, told GOBankingRates that while it’s exciting to see women becoming crypto-curious as well as pursuing careers in the blockchain space, they are still behind men in the race to “win big” in the new digital economy.

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“If the industry can close the digital asset education gap and make financial tools widely accessible to all, women will have a more even playing field to achieve their financial goals,” Kukka said.  “In addition to enabling them to become their own bank, as the industry motto goes, crypto gives women the opportunity to build substantial wealth and catch up to their male counterparts. My hope is that crypto will usher in a new era of financial inclusion in which all have access to the tools needed to find financial freedom.”

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About the Author

Yaël Bizouati-Kennedy is a full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She also worked as a vice president/senior content writer for major NYC-based financial companies, including New York Life and MSCI. Yaël is now freelancing and most recently, she co-authored  the book “Blockchain for Medical Research: Accelerating Trust in Healthcare,” with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in Journalism from New York University and one in Russian Studies from Université Toulouse-Jean Jaurès, France.
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