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Women and Cryptocurrency

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8 views

Women and Cryptocurrency

Uploaded by

jvynnr
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Is Cryptocurrency a viable option for women?

“Crypto-currency” this word is not an uncommon one today. The advent of this new instrument
in the financial markets shook the financial world to its core. The idea of a decentralised and
unregulated (or self-regulated) currency was one which was practically unheard of before the late
2010’s. Of course like every other new thing in the market, cryptocurrency has its own share of
supporters and dissenters. Here is the thing though, like almost everything else in the financial
markets, these pundits of cryptocurrency are overwhelmingly male. Being a female investor,
however, is different from being a male investor. Women are inherently more instinctual when
making investments and rely more heavily on traditional instruments. So, one can only help but
wonder, is this new torch-bearer in the world of finance a viable option for your common female
investor?

The Hindu reports that the brokerage firm Sharekhan (India) saw a jump in the number of female
traders in the 2020-2021 financial year from 14.75% to 35.68%. This jump, while hopeful, also
signifies the sad fact that women are only now beginning to look at the stock market as viable
trading and investment options. While the reasons and history for this is largely unimportant in
the context of this article, it is important to examine what kind of instruments women
traditionally invested in.

Gold, Fixed Deposits, Savings Schemes and Savings Certificates are all instruments which have
two characteristics in common:
1. They are low risk.
2. They have a lower return on investment.

Someone who has studied the market for long knows that these are inter-related characteristics.
So, does this speak to the nature of women as investors? Are women NOT risk-takers?

The sad and unfortunate answer is YES. And, this is for no fault of their own. Women (especially
in developing countries) have little access to capital and when they do, they are socially
conditioned to take less risks with them. Women constantly think about a metaphorical safety net
when it comes to investing. This hampers their ability to take risks.

So, how does this nature translate to the world of Cryptocurrency?

The Crypto market is a highly volatile one. Many investors and miners lose more than they gain.
Adding to that is the fact that it is unregulated. This means that there is no Central Bank or
Government which will protect you in case you end up losing money. These two things
combined, sets off sirens in the minds of female investors.

A very common argument one hears when discussing Cryptocurrency among female peers is that
“I just don’t know/understand enough about Cryptocurrency to put my money there”. On the
surface, this argument seems easily remediable. But the subtext of the argument suggests a deep
mistrust of the whole system.

The merits and demerits of cryptocurrency are largely discussed and debated all over the internet.
There is nothing much left unsaid in this matter. But, for female investors, the demerits seem
much more daunting compared to the merits.

Yes, cryptocurrency is a safe and anonymous means of exchange. But, hasn’t it been employed
by terrorist organisations? Yes, investing in crypto has made some people millionaires. But,
hasn’t the same trend led to billions of dollars of losses for multiple investors as well?

The fact is that today, more than ever, it has become increasingly important for women to be
financially self-sufficient and independent. Therefore, we have to teach women to invest from a
young age. Personal finance is not something any woman can and should ignore anymore.
Cryptocurrency is something that is here to stay (as long as they are not outright banned by
Governments). The use of cryptocurrencies has withstood even a global pandemic, with its
market share increasing over the 2020-2021 period. So, it is a fact now, that women MUST
consider crypto a viable option for exchange as well as investment. The simple fact is that many
women need the anonymity in purchases and exchange that crypto provides. This is because a lot
of women’s finances even today are controlled and regulated by the male authority figures in
their life. So, crypto provides a way to women to feel secure in their financial investments
without having to surrender their financial autonomy. Unlike traditional banking and financial
services, crypto is easy to set up, has no paperwork and provides anonymity and security to its
investors.

But, on the flip side, like every investor, female investors should also be educated on which
currency is reliable and how much, how and when she should invest, etc.

The nature of cryptocurrencies is antithetical to the investment nature of women. But, it is an


instrument which will safeguard and protect the financial interests of women worldwide. So, a
conscious effort must be made to educate women when it comes to cryptocurrencies.

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