Crypto world, exclusive “boys club”? It must be admitted that, as in the world of finance in general, the vast majority of investors here are men. But the lines are starting to shift in earnest, and more and more women are interested in cryptocurrencies.
Proof of this is the study “Women and Investments” published this year by neobank N26. Conducted in five European countries (Austria, Germany, France, Spain, Italy) with 16,030 respondents (men and women), it confirms that women invest 29% less than their male counterparts. However, almost 2 out of 3 say they want to invest more in 2022.
Cryptocurrencies, the preferred investment of young Europeans
And if, in general, female investors prefer banking products, it is impossible not to notice that the interest shown in cryptocurrencies continues to grow. Cryptocurrencies have now become the third most popular investment vehicle across all countries, with a third of women saying they have invested in cryptocurrencies. Moreover, they rank first among the most popular investment products among Spanish and European women aged 18 to 24.
What is driving more and more women to invest in cryptocurrencies? According to the “Global Study of Women in Crypto” survey published in May 2021 by BDC Consulting among 443 women from 28 different countries (including the US, UK, Germany, Israel, India, Indonesia), there are several answers.
But at the head of the factors explaining the increasingly pronounced attraction of women to crypto is the desire to “increase their financial well-being” (57% of respondents). In second place is the desire to “try something new” (50%). Finally, on the third step of the pedestal, we find “gaining financial independence.” The answer that can be approached from what is in fifth place is “to feel free” (27.2%).
The pursuit of freedom
The concept of “freedom” is also one of the main reasons most often mentioned by respondents for investing in cryptocurrencies. The system’s decentralization, ease of use, and the fact that it makes it easy to manage your finances on your own are viewed by women as important assets. As Valentina Drofa, CEO of Drofa Comms, a public relations agency for financial companies, notes, “Women are increasingly taking their place in the use of blockchain technologies and cryptocurrencies. It’s about taking control of your finances and therefore your life.”
And although not everyone can get rich, in recent years there have been more cases of women making a fortune by investing in cryptocurrencies. An illustration with American Rachel Siegel, a former substitute school teacher in the United States, now a millionaire, who, thanks to various platforms, has become a well-known influencer in the field of cryptography. Moreover, he is not the only one. The Influencer Marketing Hub has identified at least six influencers on a list of 39 crypto influencers to follow on Instagram (some of whom have yet to reveal their true identities).
We see it. In addition to being increasingly invested in cryptocurrencies, women have also become important figures in the crypto and blockchain community. Obviously, the time of the “boys’ club” has indeed passed.
If you want to invest in cryptocurrencies like Bitcoin and Ethereum, you can shop on the LiteBit platform. French clients receive a €20 welcome fee for purchasing their first cryptocurrency on our platform after verification. LiteBit is registered with Autorité des Marchés financiers as a service provider for digital assets. LiteBit offers a fast, simple and secure service with French support to buy, sell and manage over 75 cryptocurrencies.
Perspectives mentioned on this site are subject to change. They are in no way a commitment or guarantee on the part of LiteBit and should not be construed as investment advice or recommendation.