Cryptocurrencies Are Slowly Finding Favour With Women Investors, Finds Study

Crypto tokens such as Bitcoin, Dogecoin and Ethereum are the most popular among women investors, according to a BlockiFI report

Outlook Money Team

Updated on: 9 March 2022 11:12 am

Women investors are getting attracted to invest in cryptocurrencies.

More women investors are getting attracted to cryptocurrencies, finds a recent survey by US-based crypto trading platform BlockFi. Of the women who participated in the study, one-third said they plan to buy cryptocurrencies in 2022. Of them, 60 per cent said they plan on buying digital assets within the next few months.

The survey was conducted by a third-party survey panel at the end of January and consisted of 1,031 American women between the ages of 18 and 65.

According to other studies, in India, too, the situation is similar. While India ranks second in crypto adoption, and young investors constitute a larger section of crypto investors, women form only a small part of this growing group. Data from some of the Indian crypto exchanges shows that 10-15 per cent of the crypto investors are women. And they are mostly based in metro cities like Delhi, Bengaluru, Hyderabad, Pune, and Lucknow.

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“There’s no better way to learn about something new than by doing — especially when diving into the seemingly complex world of crypto,” said Flori Marquez, founder and senior vice-president of operations of BlockFi in a statement.

The report further noted that about one in four women participants already owns crypto assets, and of that group, most have never sold what they’ve bought.

Among the most popular cryptocurrencies among women, investors are Bitcoin (BTC; 71 per cent), Dogecoin (DOGE; 42 per cent), and Ethereum (ETH; 18 per cent). However, other subsectors in this space remain largely untapped by women, as only 5 per cent have bought a non-fungible token (NFT) or participated in crypto mining.

The crypto sector remains a heavily male-dominated industry. Out of the 121 leading crypto companies, only five, or 4.13 per cent, have women founders, according to research by Crypto Head. But those companies have men founders as well.

The number of women in the industry is set to grow, though. The BlockFi survey found that 15 per cent of the women respondents said they were interested in working in crypto, but only 10 per cent said they planned on working at crypto or blockchain-focused companies within the next year.