Why Cryptocurrency is Important for Women

When it comes to the financial services industry, women have been systematically excluded for a long time. While they make up nearly half the world’s population, they are also massively underrepresented in the financial services industry.

Cryptocurrencies are a natural fit for women. Not only are they inherently digital and decentralized, but they’re also about democratizing financial services and giving everyone a fair chance to participate in the economy.

Cryptocurrencies allow women to take financial power back from the big banks, governments, and other male-dominated institutions. Women can now use a cryptocurrency to gain the same advantages as men, whether it’s access to credit, savings, investments, or other financial services. Here’s a look at why women should care about cryptocurrency.

Cryptocurrency (sometimes simply called ‘crypto’) is a digital currency that doesn’t depend on a centralized institution to monitor, create and distribute it. Instead, digital currencies are created through a process called “mining.” Mining involves solving mathematical problems to get coins. Unlike traditional forms of currency, cryptocurrency can be sent and received by anyone, anywhere. Some popular cryptocurrencies you might know are Bitcoin and Etherium.

Women make many financial decisions, from managing money to paying bills and everything in between. However, severe biases in the financial services industry limit women’s access to credit, savings, and other financial services. As a result, women are massively underrepresented in the banking system.

But cryptocurrencies can change this by giving women the same access to finance as men. These currencies have equal opportunity for everyone: no one is excluded just because they're female or based on their race or social class. With cryptocurrencies, your gender doesn’t matter; only your willingness to invest in yourself counts. So when you invest in cryptocurrency, it gives you better access to all sorts of financial services - not just those offered by cryptocurrency issuers.

The associated extras with cryptocurrency (such as: how do you pay tax on this sort of investment?) can seem at first to be hard to understand. But cryptocurrency, being as profitable as it has been, has seen significant interest from companies and financial individuals. It’s easier than ever to find a crypto tax CPA, someone who can give you the knowledge you need to feel completely independent. 

Women have had a difficult time getting access to investments for centuries. In the U.S., it wasn’t until the last 30 years that women could open their own retirement accounts without a husband or father’s signature. Even then, those accounts were limited to IRAs and other savings vehicles rather than stocks, bonds, or any of the higher-returning instruments that would have better served them.

In the meantime, men could participate in almost all investment opportunities. Now, women can use cryptocurrency as an investment vehicle that is not only affordable but accessible to anyone with internet access. You also don’t need a bank account or credit card to get started because you can acquire cryptocurrency through mining or trading.

This means that women can now take part in high-risk investments simply by owning cryptocurrency and putting forth a little effort into mining coins at home. However, when you place your money into stocks and bonds, you need more capital to invest, and the risk is much higher than when investing in cryptocurrency.

For example, if you wanted to invest $1,000 USD of Bitcoin in 2013 and sold it at its peak price ($19,000), you would have made $18,000! So imagine what kind of return on investment you could make if you invested more than $1,000?

What’s the point of having money if you can’t spend it? Women are uniquely in need of a safe and secure way to store their savings.

Cryptocurrencies allow women to take control of their finances and become more financially independent.

They offer access to financial products and services that have traditionally been difficult or impossible for women to access. In addition, the blockchain is decentralized, meaning there is no central authority controlling the transactions, which means women don’t have to go through any gatekeepers like a bank or a financial institution to send money or make investments.

This level of empowerment and freedom has significant consequences for the future of women in the economy. It could mean more economic stability, better opportunities for women-owned small businesses, more social mobility, healthier families, and greater peace of mind for millions of people worldwide.

A depressingly large proportion of women will find themselves in a dangerous relationship at some point in their life. Economists have stressed the power of cryptocurrency as a form of currency suited for those in domestically abusive situations due to its discreet nature. Cryptocurrency can empower women at the top of their game and those in troubling situations. 

Women need to feel safe and secure with their money. They have to take care of themselves, their families, and the people around them. This means women are often stressed about money and may be susceptible to financial scams. Cryptocurrencies provide a safe haven for stressed-out women.

Cryptocurrencies operate outside of the traditional banking system and on a global scale. They protect from interest rates that are too high, from people who cheat or steal your money, or from those who will rob you blind by giving you loans for ridiculous amounts of interest. Cryptocurrencies allow you to keep control of your money no matter what life throws at you – even if it’s something like an economic recession or a natural disaster where there’s an interruption in the power supply.

Cryptocurrency is digital cash that you can manage through an app on your phone. It gives you complete control over your finances and doesn’t require you to disclose any personal information beyond your wallet ID (which is only a string of numbers).

These features make cryptocurrency a great option for independent women who want more control over their finances without fear of being exploited by institutions and individuals.

In many cultures, women are often denied the right to own property or have a bank account. Women are also less likely to be able to provide for their families. In addition, women are more likely to earn substantially less than men in the same position. So even when they’re on equal footing, they’ll often be paid less just because of their gender.

That goes against everything cryptocurrencies stand for. They’re about financial independence and fairness for all people. Cryptocurrencies necessarily don’t cost more for one than another. Nor do they determine their return by your gender. As such, cryptocurrencies should matter to women everywhere – especially on Equal Pay Day.

Women make up nearly half the world’s population, but they are massively underrepresented in the financial services industry. Women are also the most vulnerable population regarding poverty, which is a major reason they need access to financial services. But this isn’t just an issue for women - all people who have been excluded from the traditional financial system can benefit from cryptocurrencies.

For example, many people in developing countries have limited access to a bank account or even a local bank branch. These people simply don’t have the option of opening a bank account or borrowing money from a conventional institution like banks and credit card companies. But with cryptocurrency, anyone can participate in our global economy and receive fair treatment from participating businesses.

Similarly, cryptocurrencies provide women with more options for investments and other financial products traditionally only made available to men by traditional banks and institutions. For example, over 65% of total hedge fund investors globally are male – so women can now bypass these investors entirely by using cryptocurrencies as an investment vehicle.

Women’s financial positions are vital to understanding their broader role in society. If women are kept financially dependent, we can see that really; they aren’t free in our capitalistic society. On the other hand, women’s financial independence can represent a growing level of freedom for women. 

For this reason, the existence of digital currencies is a good sign of women’s independence. But is this freedom sustainable, and will it continue on into the future? After all, women’s liberation shouldn’t just be a phase - it should be forever.

Cryptocurrencies are such a new currency. With this comes issues - a big topic at the moment is the damage cryptocurrencies are making to the environment. But cryptocurrency’s youth also gives it great benefits: it is still responsive and evolving concerning the problems it creates. Creators have been working to make them more environmentally friendly and have been finding success so far. 

In this, we can see that cryptocurrency (unlike traditional, established forms of finance) is receptive to change. This quality is essential for any financial element related to women, as women’s role is constantly evolving in a world that is starting to be receptive to feminism and women’s empowerment.