Men still outnumber women in crypto ownership and investment. The Motley Fool Ascent's 2024 Cryptocurrency Investor Trends Survey found that 46% of women are "very unlikely" to invest in crypto, while 23% are "somewhat unlikely". Even though the crypto market has recovered and new Bitcoin investment products have been released.
So what's up? We might easily say "women invest differently than men," but let's look at the data. After 15 years, the gender disparity in crypto shouldn't be the same.
"I don't know what to do with it" Skeptical women worry, "I don't know what to do with it." More over a third (35%) of women respondents called this a serious cryptocurrency investment issue. That may explain why the new spot Bitcoin ETFs aren't making a big impact. People are still confused about its uses.
That's unfortunate because women are among the most vocal Bitcoin advocates. Cathie Wood of Ark Invest has been promoting it as a great long-term investment for over two years. In addition, she has been explaining its prospective uses.
While Bitcoin is best known as a long-term store of wealth (like gold), did you know that sending cross-border remittances to friends and relatives is a common use? Or that it's getting increasingly popular as a payment method in developing countries?
Lightning Labs CEO Elizabeth Stark is another prominent voice describing the digital currency's possible uses. Her organization is building and expanding the Bitcoin Lightning Network, a fast payment mechanism based on the Bitcoin blockchain. Stark calls the Lightning Network a "programmable financial layer for the internet." You can do more with Bitcoin by programming this financial layer.
"I don't understand how to buy it" Women in the survey are worried about cryptocurrency buying difficulties. Before the advent of Bitcoin ETFs, you required a basic understanding of crypto to buy it. But all that changed. You can now buy it like your favorite tech stock. The new spot ETFs should level the crypto playing field for women and other underrepresented groups.
These ETFs were formed by huge corporations like Fidelity Investments, so you no longer have to trust Sam Bankman-Fried. Security, another important concern for women, should improve. Although Bitcoin's price is fluctuating, your investment won't disappear overnight!
Men from Bitcoin, women from Ethereum? If you still believe "men are from Mars, and women are from Venus," consider exploring the crypto industry beyond Bitcoin. Thousands of digital currencies have blockchain ecosystems with committed investors, developers, and consumers.
Ethereum (CRYPTO: ETH) is more than a "coin" or "token." Your investment covers its ecology. Decentralized finance (DeFi), blockchain-based apps, NFTs, and many niche blockchain projects driven by smart contracts are included.
If you don't like Ethereum, try Cardano, Solana, or Avalanche. Crypto isn't just for young white men, as you may believe. Something for everyone. If you're still undecided about crypto investing, consider exploring the unique ecosystems behind each major cryptocurrency.
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