It seems that male dominance in the cryptocurrency industry may soon be over. The coronavirus outbreak has triggered a massive influx of female investors.
According to data from cryptocurrency exchange Bitstamp, the number of female cryptocurrency investors increased by 198% in the first three quarters of 2021 compared to the same period in 2020. With such a rapid pace, women could finally create a gender balance in the industry that was considered to be dominated by men.
The largest percentage of new investors are women between the ages of 30-35. Curiously, the most successful female investors and traders are between 55 and 60 years old. They tend to invest larger amounts and earn higher profits.
The main reason for such an influx is probably the rapidly spreading awareness of cryptocurrencies. The COVID-19 pandemic forced many countries to go on lockdowns, forcing citizens to stay indoors. Of course, they were forced to look for new income opportunities as many of them were unemployed. Also, more free time means more educational opportunities.
Still, it will likely take some time to reach equilibrium. According to the Financial Tribes You Need to Know report, 66% of investors in the cryptocurrency industry are still male, with about 55% of them under the age of 35.
Nevertheless, progress is evident. In 2018, men made up 91% of the bitcoin community, as reported by CoinDance. Moreover, women are entering the cryptocurrency industry not only as investors and traders, but also as employees. According to CoinMarketCap, the number of female employees in the blockchain and cryptocurrency industry increased by 43% in 2020.
The main reason for such an influx is the increase in online educational opportunities, which ensure the availability of knowledge and allow common barriers to be avoided. As Leah Jonas, head of partnerships at Celsius Network, told Business Insider, a large portion of women declined education because they felt uncomfortable attending offline events and workshops where most attendees were male.
Nevertheless, prominent female players in the cryptocurrency industry believe that women have great potential to disrupt, revolutionize innovation and determine the direction of further growth. All they need to do is overcome fears and hesitations.