Cryptocurrency has traditionally been a market dominated by men, but over the years, women have been showing more interest in the opportunities it offers. The number of women investing in cryptocurrency has been steadily increasing, and more women are becoming aware of the potential of digital assets.
If you’re a woman thinking about diving into cryptocurrency, it may seem like a daunting task at first. To help guide you, we’ve gathered insights from several women leaders in the crypto space. They’ve shared valuable information on the resources available for female investors and the steps you should take to get started with cryptocurrency.
Key Takeaways
- Women make up around one-third of crypto investors in the U.S.
- The male dominance in crypto comes from its strong links to the finance and technology sectors, but women are showing more interest in joining the market.
- Many online communities are dedicated to women in cryptocurrency, and these can play an important role in overcoming gender-related challenges and building confidence.
- It’s crucial to understand the basics of cryptocurrency and learn how to securely buy and store coins before jumping into investing.
Overcoming Challenges and Building Confidence
A 2024 report by Gemini on the global state of cryptocurrency revealed that only 31% of crypto investors in the United States are women, down from 47% in 2022. This trend is largely seen in developed countries, though women in developing nations invest in crypto at higher rates. It’s no surprise that women are underrepresented in cryptocurrency, which intersects with two traditionally male-dominated industries: finance and technology.
“Women face the same biases as they do in the tech and financial sectors, such as skepticism about their technical knowledge and financial skills,” says Lisa Carmen Wang, founder and general partner of Bad Bitch Empire, a community helping women build wealth through investing.
Historically, women have faced structural and even legal barriers to participating in these fields. As of now, they make up a smaller portion of the workforce in both finance and technology—about 25% of STEM workers in the U.S. and 46% in finance, with only 15% of leadership positions. “There’s a lack of female role models and leaders in the cryptocurrency space, which affects confidence and discourages women from participating,” says Wang. “Also, cryptocurrency and blockchain thrive on community and network effects, and men often have more established networks, which can be a barrier for women looking to enter.”
Despite these challenges, it’s important to note that many women are still interested in cryptocurrency. According to a 2024 survey by Investopedia and REAL SIMPLE, cryptocurrency is the third most popular investment type among younger women, particularly millennials. Overall, 8% of invested women said they hold cryptocurrency.
Interestingly, some women find cryptocurrency to be more welcoming than traditional finance. Its decentralized nature removes many of the gatekeepers that have historically prevented women from accessing power and wealth.
“Despite the hurdles, the crypto space is meritocratic,” explains Marissa Kim, head of asset management at Abra Capital Management. “People with knowledge and skill are welcomed, regardless of their gender. Unlike traditional hierarchical systems, the crypto industry tends to embrace newcomers who show expertise and capability.”
Benefits of Joining Crypto Communities as a Woman
One common theme that came up in discussions with women in the crypto space was the importance of community. Unlike traditional finance, which is more centralized, cryptocurrency has a shorter history and fewer established institutions, which means people tend to learn from each other.
However, many of the early crypto communities were founded by men, which sometimes made women feel isolated or unwelcome. Elaine Asher, co-founder and chief strategy officer of EVE Wealth, recalls her initial experiences with crypto meetups, where she was often the only woman and the only one not wearing a hoodie.
For Asher, attending an event designed specifically for women in cryptocurrency was a game-changer. It was the first time she felt part of the crypto space.
“Women tend to learn better in groups, especially when dealing with something as complex as cryptocurrency,” says Asher. “We don’t want to feel like we’re on our own, trying to figure it out by ourselves.”
She adds, “Women enjoy learning with and from their peers in a supportive environment, where no question is too basic. Studies have shown that being part of a community boosts confidence and enhances problem-solving skills—both of which are crucial when making investment decisions.”
Here are a few examples of women-focused cryptocurrency communities:
- Association for Women in Cryptocurrency
- Crypto Girls Club
- Crypto Tech Women
- EVE Wealth
- Global Women in Blockchain
- she265
- SheFi
- UnicornDAO
- Unstoppable Women of Web3
- Women in Blockchain
- Women of Web3
- World of Women
How to Get Started with Cryptocurrency
Here’s a summary of the steps you can take to start investing in cryptocurrency, no matter your gender:
- Understand How Cryptocurrency Works Cryptocurrency is a type of digital asset, often referred to as digital currency. Unlike fiat currencies like the U.S. dollar, cryptocurrencies aren’t controlled by any government. Their value is not determined by underlying assets but by what investors are willing to pay for them. There are over 17,000 cryptocurrencies in circulation, but not all are valuable. The most well-known ones are Bitcoin, Ethereum, XRP, and Tether USDt.
- Choose a Cryptocurrency Exchange To buy cryptocurrency, you’ll need to set up an account with a cryptocurrency exchange. These exchanges function similarly to brokerage accounts, allowing you to buy various cryptocurrencies.”Choose a reputable exchange with strong security measures, good user reviews, and reliable customer support,” advises Wang.Different exchanges cater to different needs, so take time to research which one fits your goals best.
- Prioritize Security Security is crucial when investing in cryptocurrency. There are risks like online attacks and unstable projects.”Anyone can create and distribute a cryptocurrency or NFT, so it’s important to invest in projects that have been properly vetted,” says Shirin Bucknam, founder of Crypto Witch Club. “Exchanges can collapse, and projects can fail. Stay protected by doing your research.”
- Set Up a Crypto Wallet A crypto wallet is essential to store your cryptocurrency. Unlike a physical wallet that holds cash, your crypto wallet holds the private key that allows you to access your cryptocurrency.”Transfer your funds from the exchange to a compatible Web3 wallet as soon as possible,” says Bucknam. “Your crypto should never sit on an exchange. If it’s not in a wallet, you don’t truly own it.”
- Start Small Don’t feel pressured to dive in headfirst. Experts recommend starting small and allocating only a small portion of your portfolio to cryptocurrency.”I recommend starting with Bitcoin and Ethereum, as they are the largest and most liquid cryptocurrencies,” says Kim.Asher of EVE Wealth suggests investing no more than 1-5% of your total portfolio in crypto to begin with. Think of it like venture capital—most projects fail, so take your time and spread your investments across multiple cryptocurrencies.
- Consider Alternative Investment Options You can gain exposure to crypto without directly purchasing it. Consider investing in cryptocurrency companies like Coinbase, Block Inc., or Riot Platforms. Alternatively, you can invest in cryptocurrency funds, including mutual funds and ETFs, that offer exposure to cryptocurrency-related assets.
Advice for Women Investing in Crypto
Once you’ve grasped the basics, there’s still much to learn about investing in cryptocurrency. Finding a supportive community will help you feel confident, and never be afraid to ask questions. “The key is to focus on education and find a community that feels like a safe space,” says Bucknam.
It’s also essential to understand the risks of investing in cryptocurrency. According to a 2024 survey, 22% of women who have not yet invested in cryptocurrency say they don’t trust the market, and 29% are afraid of losing money. Keep in mind that cryptocurrency is volatile, and downturns are part of investing. Think of crypto as a long-term investment and be prepared to weather any market storms.
Lastly, stay informed and look for learning opportunities. With new coins and advancements in decentralized finance technologies, there are always fresh opportunities in the crypto space.
How Many Women Are Investing in Crypto?
A 2024 survey by Pew Research found that 10% of women have invested in cryptocurrency, compared to 17% of the overall population. Among women aged 18-29, 16% have invested in cryptocurrency, while only 5% of women aged 50 and older have done so.
Conclusion
Cryptocurrency is an exciting and dynamic space that offers plenty of opportunities for women. With its decentralized nature, cryptocurrency allows women to break into areas traditionally dominated by men.
If you’re considering entering the world of crypto, look for educational resources and communities designed specifically for women. And remember, cryptocurrency should be part of a diversified portfolio, so don’t put all your eggs in one basket.
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