New Study Reveals Interesting Gender Trends for Cryptocurrency
The Journal of Business, Economics and Finance (JBEF ) Volume 10, Issue 4 is titled “A RESEARCH ON THE FACTORS AFFECTING CRYPTOCURRENCY INVESTMENTS WITHIN THE GENDER CONTEXT” by Çağla Gül Şenkardeş and Ozan Akadur. This study examined the factors effecting cryptocurrency in the context of gender.
While Coindesk highlights a low number of women with knowledge about crypto assets in its article “Men Check Bitcoin Price More Frequently Than Women, New Study Reveals,” the study actually brings light to results that show more women are likely more comfortable with cryptocurrency as an investment instrument.
After reading the study, a few additional conclusions shed a positive light on how women can lead in cryptocurrency.
The study showed that most cryptocurrency investors are age 30–40. Even among ages 40–50, more women than men are cryptocurrency investors.
Even more interesting is women’s investment preferences. While stocks are least preferred amongst men and women, more women prefer cryptocurrency over individual pensions and company stock.
What We Know About The Study?
JBEF is a double blind peer-reviewed open-access online journal first published in 2012 on issues of business and finance. Researchers concluded, amongst other things that “women’s labor force participation and low incomes cause them to direct their investment preferences to less risky products.”
I tend to disagree.
Still, We Need More Women In Crypto
It’s true, we need more women in tech. We need more women in crypto. We need more women in web3. Period.
Although researchers stated, “the inability of women to take a sufficient place in working life and thus not earning income is one of the biggest barriers to investment,” women worldwide are contributing to economic production, and this number is rising.
Even researchers need to be keen in promoting women, just as much as they highlight the gender bias. This study was based on quantitative research with 399 participants, 230 women and 169 men. Of these 230 women surveyed, 78% of women surveyed were unemployed. U.S. journalists should be particularly mindful of the studies and data they are reporting to ensure they are not perpetuating a narrative that does not advance opportunity for women.
Although this study was done in Turkey where labor participation among women is approximately 35%, in the United States, over 57% of women are employed. The more women contributing to cryptocurrency will allow web3 technology to emerge into leading technology across industries. But still, with the gender-based discrimination in employment, we all have to be aware of how inclusion can create a better digital ecosystem.
Let’s Study More!
The study makes an important contribution to the relevant literature of gender within the framework of cryptocurrency investments. Still only 11% of people in the United States invest in cryptocurrency. I’d like to contribute more resources to data analysis and surveying in hopes of bringing 20% of Americans to crypto by 2030.
I’d like to conduct another double blind study on 20–70 year old Americans to determine trends in behavior while learning and engaging on topics of digital and financial literacy. Once we understand how people are getting and processing information, we can welcome a new group of people to cryptocurrency.
Join the Charge!
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