Since Satoshi invented Bitcoin in 2009, the cryptocurrency space has been thrilling, exemplified by a meteoric growth in the underlying technology — blockchain, surpassing a myriad of milestones to transform lives for better.
Today, there are more than 17 million Bitcoins in circulation, with thousands of tokens available to trade and transact with — and there are over 2,000 cryptocurrencies on the market.
ICOs have become the means through which startups raise funds, with the first quarter of 2018 recording a staggering $6.3 billion U.S., approximately 118% of all the funds raised in 2017.
At the other end, the crypto ATM market is poised to grow from $16.3 million in 2018 to an astonishing $144.5 million by 2023. This gives strong credence to the fact that blockchain is set to revolutionize money markets, finance, governance and so much more.
The massive opportunities offered by this technology cannot be ignored by women. After reaching such heights in the past decade, there’s a good probability that crypto will offer even greater potential for the future.
Few women buying cryptocurrency
Despite the impressive figures and growing popularity of virtual currencies and blockchain technology, there’s an obvious shortage of women participating in these spheres. Backing this revelation is a report recently published by CoinDesk, which showed that women make up a meager 4% of the entire crypto trading community.
Although it is quite tricky determining the exact number of female coin enthusiasts represented in this field given the anonymity on some of these platforms, various statistics prove the significantly low participation of women.
In January 2018, women owned a mere 5% of the total $550 billion market capitalization for the crypto industry. Currently, about 5% of the crypto fanatics are women and this includes owners, founders, developers and the casually interested folks.
According to a Coin.dance report at the end of June 2018, 91.22% of cryptocurrency enthusiasts participating in the Bitcoin community were men and only 8.78% women.
Another study by Quartz shows that in the past 6 years, only 8.5% of people sitting on the founding teams of thousands of blockchain companies were women. All of these statistics give testament to the fact that it’s time for women to consider buying digital assets.
Now is the Time For Women to Start Buying Digital Assets
Keeping in mind that achieving financial independence is not an instant outcome, but rather a journey where particular behaviours and decisions propel an individual forward, it’s critical for women in the 21st century to understand exactly what needs to be done in order to maximize their financial potential, and that includes addressing any possible pitfalls and taking shortcomings head on.
There are many reasons why women should care about crypto. 2018 is almost coming to an end and thanks to blockchain technology and digital currencies, global economies are set to experience a sea change.
This unprecedented revolution can potentially sweep away the existing conventional financial institutions and power-bases and usher in people power and real diversity, enabling access to data, technology, and control, irrespective of identity, gender, or location.
Currently, crypto is an industry dominated by men and it’s here to stay. It is therefore vital for women to get involved while the clay is still wet and play a major part in shaping this industry by making the most of this financial opportunity.
According to Mogul CEO Tiffany Pham, “Gender disparity in crypto is dangerous because the early days of an industry are often when fortunes are made — and those big winners then choose whom to invest in and what to build next, launching a cascade of consequences for women”.
Even though the numbers of women present in this field are small right now, there’s never been a better time for women to be involved in virtual currency.
Globally, more women are leveraging the opportunities that come with buying cryptocurrency.
Recently, Cointelegraph reported that the number of women considering buying cryptocurrencies has more than doubled from 6% to 13% within the past six months.
Notably, female cryptocurrency purchasers are also warming up to blockchain technology as a genuine solution to beating the fundraising hurdles that most women in startups face. Initial Coin Offerings are now a prime means through which new startups are raising funds. To confirm this, one of the biggest ICOs led in part by a woman saw Tezos raise $232 million.
What’s in it for women?
Despite the high volatility of cryptocurrencies, tokens and digital assets are the main priorities for most retail customers. Minimal costs, huge transaction bandwidth and mind-boggling returns from speculative operations are increasingly making crypto attractive. In addition, the ability to use cryptocurrency as a hedging tool allows customers to avoid engagement with banks and payment of fees on services rendered.
But why are few millennial women buying digital assets when they portray such confidence in traditional budgeting and financial management? We must understand that crypto needs us and there are crucial roles women will play.
Alison Norris, a renowned CFP and Advice Strategist at SoFi also concurs. “Instead of shying away from the topic with others, women should be confident discussing it at the dinner table with peers, asking their parents how they are paying for retirement, and initiating a salary conversation with their manager. When they open it up and start talking in a human way about money, the shackles fall off.”
But how do we get there?
During my talks with women interested in crypto, I often hear questions like, “what cryptocurrencies should I buy?” What is the “best crypto for women?” “Is there a platform that supports cryptocurrency for women only?”.
Truly, most women know that reliable platforms with a low-risk diversified portfolio could jumpstart their cryptocurrency ventures. And they’re right.
Without clear strategies, the financial disparity for women buying digital assets versus their male counterparts could cost them untold fortunes.
The best approach for women would be to consider the support of reputable crypto currency platforms specially designed to make buying cryptocurrency as easy as pie while giving them the confidence to trade in cryptocurrency.
While the market is awash with platforms, Dacxi is my favourite, a proven platform and easy way for women to leverage themselves into crypto. That sounds cool, right? What is even more exciting to me is that the platform offers women different cryptos in one Dacxi bundle, so they can buy and profit from some of the biggest crypto assets. At the baseline, the platform makes it easy for retail customers to engage at the forefront of this industry and start their crypto buying adventure in unprecedented ways and, wait for it — with zero trading fees. What more could we ask for?
Arming yourself with a proven cryptocurrency strategy for women can help you choose good coins and viable cryptocurrency projects — putting you a step ahead on the road toward financial freedom and success.
Millennial women are expected to become the most financially independent and successful generation in history. And while people dash for “The Future Is Female” T-shirts, this slogan could become true for the crypto space if more women can embrace emerging cryptocurrency opportunities to grow their wealth and gain financial power.