Digital currencies are among the most mainstream and popular trends of the modern era. In other words, we can say that cryptocurrencies are re-shaping the world through its unlimited potential and outsized returns which already attracted millions of digital participants to invest, in cryptos like Bitcoin and Ethereum etc. But, some recent surveys shed some light on the engagement of female crypto users in the crypto communities. Even if you look around, you will notice that majority of participants in the crypto world are men.
According to Coin.dance, as of May 2018, only 5.27 percent of women actively participated, however, 94.73 percent of men were already active. This is of Bitcoin community engagement where the huge difference in the percentages clearly indicates the big difference between the involvement of men and women. In a survey conducted by MyEtherWallet, it was found that 84 percent of their holders were male.
Strange isn’t it?
The question is, “How come very low percentage of women involved in cryptocurrency?”
Well, there are multiple reasons for having the very low engagement of women in the crypto community. So, let’s discuss each one of them one-by-one.
It is a fact that the online community presence of female is comparatively low to men online community presence. It is because of in past some women have experienced some sexual harassment and also there aren’t many women in the same community.
It is possible that the volatility in cryptocurrency market affects the involvement of men and women in the crypto market. Plus, in a study named, “Risk and Reward Are Processed Differently in Decisions Made Under Stress”, it was found that the risk tolerance of men and women are different. And men are more capable of taking risky decisions under stress as compared to women. Since finance and banking lines require to take risky decisions under certain circumstances. Unfortunately, men are more than capable of doing this in comparison with women.
That’s not all.
In another study, cited by Financial Times, it was found that 64 percent chance that a random man is willing to take more risks than a random woman. When you are dealing in cryptocurrency like Bitcoin, your work must have some sort of secrecy to manage your investment. Moreover, cryptos are not regulated by central bank which made it more riskier investment for anybody.
Apart from this, there are still many studies and surveys which come to the same conclusion that women take far fewer risks.
Final Thoughts: –
Overall, we can say that whatever the reason is, we need more women to involved in the cryptocurrency industry so that the industry can really advance and be what it can possibly be. Moreover, women insights and presence will generate more values to develop a medium which do not fall under the government category and give the freedom you always desired of. If it is possible to achieve, then we will get more perspectives and angles by all sorts of people for better development.
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