Women in Crypto: Why it's Important to be a Part of the Conversation

Blockchain technology is often referred to as the next internet, and with good reason. It creates an open platform on which people can transact online without the need for a middleman, meaning that they don’t have to worry about things like inflated prices or slow transactions. The result is a more equitable market with less fraud. One of the most important aspects of blockchain technology is cryptocurrency, and one of the most popular forms of cryptocurrency is bitcoin.

Crypto seeks to equalize the traditional ‘boy’s club’ of investing and wealth generation by making investing and trading more accessible. However, women have been sidelined in this immense surge of wealth creation. This is unsurprising, given the history of male dominance in the finance sector. There have been improvements since the advent of this technology; women are playing an increasingly large role in the burgeoning industry of blockchain technology and their contributions are not just limited to coding and investing. But the playing field is far from even, and the lack of female involvement in current crypto trading spheres shouldn’t discourage women from capitalising on this opportunity to make their money work for them. This article will explore how women are shaping blockchain technology as well as some of the obstacles that they still face as they fight for gender equality in this growing new economy.

Blockchain has proven to be a valuable resource for many companies, but it’s not just men who are behind the technology. Women have been instrumental in shaping blockchain and cryptocurrency, which is why it’s important to be part of the conversation. One of the most prominent aspects that women contribute to this industry is coding.  In fact, 60% of Silicon Valley tech startups with female founders had at least one woman out of their founding team. Another major aspect that women have contributed to blockchain technology is investing. Women make up a significant part of the cryptocurrency market, with 46% of bitcoin users being female. It’s important for women to be involved in this new economy because they are creating value as well as benefiting from its potential growth.

Women have long been pioneers in the fields of STEM and finance, so it’s no surprise that they are starting to make waves in the world of blockchain technology as well. In fact, a 2016 study found that women have an important role to play in this industry. The study analyzed over 20,000 bitcoin wallets and found that women were responsible for 39 percent of them. Additionally, 20 percent of the people who attended bitcoin conferences were women.

Although numbers like these are promising, there is still room for improvement when it comes to gender equality in this industry. Women often feel marginalized or ignored when it comes to blockchain technology, which is why it’s important that we all work together to ensure that there are more women in the conversation. If we want to see change happen, we need all hands on deck!

There is evidence to suggest that women tend to make better traders. With a tendency to be more patient, save more, and have a generally more safe, conservative approach to investing, women generally avoid the volatile ‘lottery style’ of investing, opting instead for a slow-but-steady approach to wealth creation. This reliable wealth creation is crucial to the fostering and growth of female entrepreneurs and more socially conscious businesses, particularly for women with little capital to begin with. Microlending, using cryptocurrency, is a life-changing way for women - with otherwise very little access to loans through traditional banking institutions -  to take the necessary step in starting a business and supporting themselves. This benefits women in developing countries where there are gendered financial restrictions rooted in culture.

There are many different ways to include women in the crypto conversation. One way would be to include women in the blockchain and cryptocurrency discourse. As we all know, discussions about bitcoin and other cryptocurrencies often take place on social media sites like Reddit or YouTube. There are many avenues through which women can contribute to these conversations, such as by commenting on threads or making their own posts. Another way that women can be included in the discussion is by simply talking about the topic - however, this is only helpful advice when it applies to women who are already knowledgeable about the sector. The financial sector has long since been gate-kept by men; financial literacy is a must-have skill for a professional these days, and many women have been socialised not to discuss money. Companies such as SheFi have created learning opportunities for women to meet and discuss not only the history of women in finance but the possible futures for women in cryptocurrency.

If you’re a woman confident in your knowledge about cryptocurrency, and passionate about expanding the field of other female investors, talk to your friends who would be interested in getting involved. The more we talk about it, the more women will feel empowered and confident in learning more about it!

The accessibility that a digital currency cannot be downplayed; things like checking BTC price to keep a track of your investment can be done in a matter of clicks. The first step to getting started with cryptocurrency is to purchase your first coins. You'll need a cryptocurrency wallet, which serves as a personal online bank account. You can buy bitcoins with fiat money (i.e., US dollars) and then use them to acquire other cryptocurrencies, like Litecoin and Ethereum.

There are many bitcoin exchanges where you can buy bitcoins; you can also use an ATM to buy bitcoins, but the process may be more time-consuming and the fees will be higher than most exchanges. Another option is mining bitcoins, but this process usually takes months before you generate anything worth being called "money.” The more we spread the information and demystify the male-dominated sphere of cryptocurrency, the closer we get to gender quality in this new economy!