Talking crypto at the cosmetics conference in NZ yesterday. Our man, Andy, gave a fabulous intro into the world of crypto to a captivated audience of predominantly women and brought the house down. Interesting chats afterwards with many ladies who wanted to find out more about crypto and how they could start investing. Dacxi of course is a great place to start and I am hoping that many of them come and join us at Crypto Chicks at Dacxi where we can help each other on the journey. Love, peace and crypto! 😍
Whether you’re a would-be woman in the Blockchain sector or have spent some years in the industry. You could be worse-off than to read the short profiles of women in Blockchain who’ve been through the journey before.
A new demographic analysis of people trading in cryptocurrencies has brought up some intriguing results such as that only very few are female, most have little to no previous experience, and many are students or working in sales and marketing roles.
Understanding Trading Demographics
Market analysts for the social investing network and multi-asset brokerage, Etoro, have conducted a research of their vast user base to help the company better understand exactly who are bitcoin and cryptocurrency investors. Looking at data from March 2017 to February 2018, they surveyed the public profiles of those investing in cryptocurrencies using their systems, and extracted demographic insights from age to gender to job sector.
One interesting point emerging from the data is that an absolute majority of traders are new in the business with regards to having any investing experience. A whopping 81.96% are at the Novice level, 10.66% are defined as Intermediate level, and just 7.38% qualify as having an Advanced level of experience in the market.
Looking at the breakdown by occupation, it’s not surprising to see people working in the computer and IT services strongly represented at 15.05%, as well as the finance industry at 8.48%. Less expected is the high share of people working at sales and marketing involved in cryptocurrency trading at 14.49%. Additionally, about 30% of cryptocurrency traders are currently out of the job market, with 13.85% being students, 2.06% retired, and 14.74% just having no job.
Crypto Gender Imbalance
One demographic issue that keeps coming up with relation to cryptocurrency developers is the lack of female representation, and the same statistics seem to be true for traders. In fact, the data shows that less than a tenth of crypto traders are women, with just 8.5% market share compared with men’s 91.5%. While there could be other factors at play, bitcoin is located at the intersection of technology and finance, both fields that suffer from a severe gender imbalance, so the results are not all that surprising in that context.
Interestingly, the research also revealed that there are differences between the cryptocurrencies men and women prefer to trade, other than BTC which has 0% gender difference. It appears that Ripple’s XRP skews strongly into the female side, while ETC, BCH and LTC are firmly in male territory. In a note to investors, Senior Market Analyst at Etoro Mati Greenspan, summarized it all with a clear “Women Love ripple.”
Earlier this year, Etoro was among seven leading cryptocurrency companies operating in the UK that formed an independent trade body tasked with developing self-regulatory standards for the cryptocurrency industry and engaging policymakers. The other founding members of Crypto UK are Coinbase, Cex.io, Blockex, Commerceblock, Coinshares, and Cryptocompare.
The percentage of women invested and involved in cryptocurrency is far lower than that of men. This could be confirmed by numerous surveys and research studies. Moreover, incidents like the North American Bitcoin Conference, where only 3 of the 88 speakers were women and the conference after party was held at a strip club, show a disparity trend present in the industry.
There is no specific reason why women shouldn't invest their energy, time, interest and money on cryptocurrency. They have everything to be as successful as men in this field and are pointed to be better investors for two reasons: First, women save more. A research from Fidelity Investments showed that while men save 7.9% of their income, women save 8.3%. That may not sound very significant, but it adds up to hundreds of dollars a year and a lot of money over a lifetime of saving.Second, women are more successful investors. Another research on this subject showed that women outperform men annually by about 1 percentage point. A study from Betterment explains why: Looking at the accounts of around 60,000 investors, about one-quarter of them being women showed that female investors signed into their accounts 45% less frequently and changed their asset allocation 20% less frequently than male investors did. Concluding that when women invest, they do better. The only problem is that too many of them don't do it in Crypto. The people at Dacxi are 100% committed to supporting the education and support of women who want to know more about crypto investing. Let the good times roll!