Female representation in traditionally male-dominated industries has been increasing over the past 40 years. While the progress is slow, it’s still important to recognize the development of this polarizing inclusivity issue. However, gender diversity is a problem that needs to be addressed.
When it comes to blockchain and cryptocurrency, men are generally the target demographic for these industries. Because of the lack of exposure, fewer women are involved in them. That said, it’s high time to expand the cryptocurrency and blockchain horizon to reach out to other demographics as well. Inviting women on board could help both industries thrive in adoption.
Women Might be Better Traders than Men
While the trading industry is mostly composed of men, research shows that women now represent roughly 19% of online traders around the world. Apparently, their brains are hardwired to be better at learning, multi-tasking, risk aversion, and many other tasks relevant to trading. Here’s how:
Women are great students
A study finds that girls get higher grades than boys do at all ages, including math and science. Generally, this implies that girls are more attentive and persistent in school. Eventually, they’ll grow up to develop a holistic approach to learning, which can serve them well in their careers.
Perhaps this quality comes in handy when they decide to expand their knowledge about trading, which can take countless hours to learn and requires a lot of research.
Women have strong intuition
We all know that a woman’s intuition is a forceful nature; just ask your mother…
As an example, it was discovered through a series of game matches on BuySellHodl, a cryptocurrency predictor app, that women are crushing men when it comes to predicting the rise and/or fall of Bitcoin.
The data reveals that 58% of the time, women successfully made accurate Bitcoin price predictions, while men’s success rate stands at 51%. The research also revealed that 16% of female users self-identify as an expert when it comes to their knowledge about crypto, compared to just 9% of men.
Bonus fact: the game’s first and highest winner of $1,000 was a woman.
Women are more bullish
Based on the same research, it says 68% of women were more likely to recommend their friends and family to buy Bitcoin, while 61% of men were a bit skeptical about recommending it. Additionally, 61% of women nominate Bitcoin (BTC) as their cryptocurrency of choice, as opposed to only 48% of men.
This implies that women are more confident about their predictions and currency of choice. It also says there’s a significant number of women who are deeply involved in the cryptocurrency landscape, and that they’re working toward leveling the playing field.
Women are more risk-averse
An eye-opening study years ago found that women were better traders than men. The primary reason being they’re less likely to take many risks because they’re not as overconfident as men. It also found that during a financial crisis, men were likely to sell their shares at all-time lows, contributing to bigger losses, than women.
In terms of overconfidence, the same study suggests it boils down to biology. John Coates, a researcher in neuroscience and finance at Cambridge University, tested male trades’ hormone reactions to workplace judgements and found that testosterone increases during winning streaks. This likely drive men’s appetite for taking risks.
Meanwhile, women move assets less frequently and manage less volatile portfolios, thumping men by an average of one percentage point yearly on a risk-adjusted basis. This means that while women call for safe risks, they’re calculated decisions nonetheless.
Changing the Game for Cryptocurrencies
Trading cryptocurrencies is not just a man’s world. While it’s still a heavily subjugated field, a lot of women are starting to change that. There are a few notable women in the blockchain and cryptocurrency industry who are actively playing the field.
Take Amber Baldet, who worked as a blockchain project leader at JP Morgan Chase cryptocurrency wing. Now, she’s spearheading her own company, Clovyr, which focuses on bringing flexibility and intuitiveness of modern application advancement to the blockchain domain. It’s also worth mentioning that she’s dubbed as the “Madonna of blockchain.”
Linda Xie, co-founder of Scalar Capital, and also former Project Manager at CoinBase, is actively sharing her cryptocurrency investment knowledge in a digestible manner with her Twitter and Medium followers. She knows how the ins and outs of alternative coins and is more than willing to educate people who are new to the cryptocurrency field.
Katherine Wu, former Director of Business Development and Community Management for Messari, an NYC-based crypto startup, is passionate about the cryptocurrency industry specifically form a legal perspective. She shares her musings about blockchain and cryptocurrency on various social media channels and on her blog.
These are only three among the many influential women on the crypto space you should keep an eye on for inspiration and knowledge. It’s women like them who are laying the groundwork for even more women to join the cryptocurrency space without fear. Their active participation contributes to making the industry a more dynamic and inclusive one.
Perfectly Balanced, As All Things Should Be
Gender may have less influence on the trading performance, and there may be other factors to consider; but with the marvelous advantages savvy and adaptable women bring to the table, they’re vital to the growth and development of this industry.
This women vs. men angle isn’t a matter of being politically correct. Like in any industry, balance is always the right approach towards creating a dynamic field for both players. So, it’s time to push for greater inclusion and to encourage more women to learn and give cryptocurrency trading a shot.
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