The cryptocurrency space has for a long time been dominated by men — but that is rapidly changing. The London Block Exchange has conducted a study that reveals the number of women in cryptocurrency to be on the rise.
Interest among female crypto-investors double
The study by the London Block Exchange shows that the number of women interested in cryptocurrency investment has doubled in the past six months. A similar study was conducted last year, which showed that only 6% of women surveyed seriously considered investing some of their money into cryptocurrency projects. Six months later, the figure has jumped up to 12.5%. The number amongst Millennial women is even higher than the average. One out of five Millennial women is interested in crypto-investments.
Interest among male crypto-investors remain stagnant
Whilst there has been a substantial growth amongst female cryptocurrency enthusiasts, their male counterparts have not seen a similar growth in interest. Some are even speculating that if the current trends continue at this rate, the cryptocurrency industry might achieve gender parity by this time next year. This would provide a breath of fresh air to the finance industry, which has been male-dominated for what seems like forever. However, trends like these seldom continue at the same rapid pace. Rather, it is likely that it will slow down gradually.
Feminist academics like the new trend
Feminist scholars claim that the finance industry has discriminated against women for a long time. According to Aubrey Hansen, women have been paid 40% less than their male counterparts in finance. Hansen compares this to the ‘usual average of 20%’, a myth that has been debunked many times over by economists. The fact that Hansen cites this figure of 20%, which is false, makes the claim of women being paid 40% less than men in finance seem very unlikely. Nevertheless, Hansen is very positive over the fact that there is a renewed interest in finance from women.
Women in cryptocurrency still have a long way to go
Despite the rise in interest in cryptocurrency among women, not many are actually taking action and actively engaging with the industry. Currently, 91.22% of all cryptocurrency investors are men, compared to 8.78% of them who are women. This has led to the cryptocurrency industry as a whole to be criticized for having a male-dominated culture. A certain “Blockchain Bros” mentality has dominated the space, but the new influx of women might challenge that.
Plenty of female role models to look up to
Despite the relatively low number of women in cryptocurrency, there are still many role models that female investors can draw inspiration from. Glamour Magazine recently featured the profiles of nine prominent women in cryptocurrency. Elizabeth Rossiello, the founder of BitPesa, was featured in the magazine, as was Elizabeth Stark (from Lightning Labs), Connie Gallippo (The BitGive Foundation), and Kathleen Breitman (Tezos).
Women can benefit from the cryptocurrency space
One the of the factors that have traditionally held women back has been the lack of funding opportunities. Out of all the venture capitalist funding granted to new companies, only 2% of it has been granted to companies founded by women. In the cryptocurrency world, however, the picture looks different. Rather than having to rely on a big venture capital firm, female founders of ICOs can appeal to the public for crowdfunding. This will greatly increase their chances of getting the funding they need.