Finance is developing. With the internet’s appearance, there are various occasional attempts around the world to create digital currencies. Meanwhile, nobody trusted the projects, and they were not popular.
Cryptocurrency is here for the conventional threatening and banking to upend the norm.
Banks adapt the services they offer and shifts their gaze more towards the digital audience.
While some treat cryptocurrency with suspicion and choose only to watch it, others getting rich by earning thousands of dollars.
The cryptocurrency world is grossly influenced by men. These cryptocurrencies now becoming a serious competitor with traditional financial system.
The modern money issued by central banks is not supported by gold or other valuable metals.
Initially, people considered digital currency as a closed men’s club. It’s covered by stereotypes that women can break.
In past years, the Blockchain world has seen rapid growth in female audiences.
Among them are experts, investors, consultants, analysts, etc. Before diving in, why women should learn about cryptocurrency, let’s know first what actually cryptocurrency is.
What is Cryptocurrency?
Some people equate cryptocurrency with bitcoin, but it isn’t. There are many digital currencies where you can invest.
Hence, cryptocurrency is virtual money which paid in a segregated system. Basically, the system which is not controlled by the authorities.
Central banks can influence the amount of money in circulation and others but can’t control the rate of national currencies.
In comparison with usual currencies, cryptocurrency is transparent, and its quantity limited by mathematical formulas instead of interest of the states.
Most Popular Cryptocurrencies
Currently, there is a large selection of the most different digital money in the financial market, which is growing rapidly every year. Interest in digital currency is growing daily among all groups of population.
Most people are investing all their money in the cryptocurrency. The most popular ones are:
- Bitcoin (BTC)
- Litecoin (LTC)
- Ethereum (ETH)
- Monero (XMR)
Created in late 2008 and early 2009, the most popular cryptocurrency.
It acts as the main object of interest from the prospective investors and trading subject in several cryptocurrency exchanges.
The idea of selling cryptocurrency was talked since the beginning of the cryptoshpere.
In 2009, the bitcoin price worth few cents, but by 2011, it is trading at tens of thousands of dollars.
In 2013, its price increased to over $1,000 and since then, we have been moving in that direction.
A so-called virtual silver or bitcoin fork, that appeared in 2011, rapidly gaining capitalization and popularity.
It was launched in mid-2015 and in a shorter time, it gained much popularity. It confidently competes with Bitcoin now.
The main feature of cryptocurrency is the highest level of anonymity of the payment systems available today.
Monero is based on the original CryptoNote protocol created in the 2014 spring.
Why Women Stay Away from Cryptocurrency?
There are several speculations why cryptocurrency remains predominately male.
- It is generally looked from two aspects -finance and tech. Women in finance and technology are mostly under-represent and overlooked. Some believe that these two fields are predominately male.
- Another reason that women are cautious when it comes to investments As cryptocurrency is known for volatile market, women stick to traditional investments.
Woman takes interests in financial products that makes sense to them.
Benefits of Cryptocurrency
There are numerous benefits that are important for women on learning about cryptocurrency.
Cryptocurrency is a greater way to increase your income. Along with it, you will have numerous opportunities to start a successful business.
These are the most relevant opportunities for making money. Furthermore, most exchanges are easy to go with.
The dynamism of the market and the emergence of new cryptocurrencies are constant development of digital money.
There are several pluses here. Payments are low commissions, no bans, no intermediaries, full confidentiality.
Stereotypes About Cryptocurrency and Women Worth Forgetting
1. Digital Currency is Hard to Understand:
The current approach for positioning and marketing makes the crypto sphere less understood to beginners.
And that’s why people, specifically women, should learn about cryptocurrency and how to invest in cryptocurrency for beginners.
This influences the disclosure of the stereotype that women can’t figure out, as they mostly recognize that tech industry is ruled by men.
Furthermore, there are numerous complex terms that can confuse anyone.
Besides, the crypto ads delineate men, which is a direct hint that women shouldn’t be here.
2. Lack of time:
There’s no doubt over the fact that women always have no time.
It takes many independent works to learn about cryptoshpere before digital currencies begin to make a profit and satisfaction from work with them.
The cryptoshpere has dubious projects and is full of scammers.
It is true from one part, a bit there are previous proven exchange where you can work safely and anonymously.
4. Financial Literacy
Most women have lack of financial literacy. It is a serious obstacle that comes their way.
There are opinions that women don’t have the same experience in the investments as men. But women analysts, investors, financiers, etc. are doing well in it.
5. Start-ups and Technology are Male Dominated Fields
Gender inequality topic never fades away. It is still a hot topic. Hence, it is mostly noted, but women bravely face these stereotypes, and proving the opposite.
Also Read: Busting 15 Common Myths About Cryptocurrency
Cryptocurrency Tips for Investors
For women who are looking to invest in cryptocurrency, experts said that they should make the decision based on factors in volatile market, sudden market crashes, and smart thinking.
Here are some cryptocurrency tips for women investors to follow:
Understand the Volatility
Experts said that 2022 will be a volatile year fir cryptocurrency and one should see a significant correction in the prices.
They recommend traders to focus more on prominent cryptos that have strong history instead of getting tokens with price movements.
When the bear market gains popularity, these underperforming tokens leaves investors in despair.
Even those that are prominent tokens, it is recommended to only invest that they can afford to lose.
It is important to maintain a strong portfolio that suggest young investors to have up to 10% of their crypto exposure and investors veterans to not expose more than 5%.
Those who chose to trade as their full-time career, they have to acquaint with fast phased developments in the industry and know the difference between new technologies like NFTs and DeFis, etc.
Avoid Using Credit Card and Loan
Don’t use credit card or take a loan for investing in cryptocurrency. Using a credit card or taking a loan will be a bad idea.
Their markets are speculative and no one has obligation for getting these cryptocurrencies from investors in the future.
Invest After Background Check
Before making any financial investment decisions, develop the understanding of the subject by complete research on educating oneself and credible platforms is basic fundamental.
New investors who build their knowledge base can easily invest in popular crypto assets like Ethereum, Bitcoin, etc. with mindset to know the underlying technology.
It is suitable to take such steps for making informed decisions to invest cautiously and safeguarding the investments made in crypto.
The right mindset is to become knowledgeable about the subject and to take a long-term approach.
Stick to Crypto Tokens With High Market Cap
Your approach should be to stick to tokens that have high market cap and creates and ecosystem aware of the risk relevant to it.
Investors should not look at crypto investment as a perspective of get-rich-quick.
Women are Better Crypto investors
Another reason why women should learn about cryptocurrency is because they are better crypto investors.
Women are savers
A study revealed that women hold 8.3 percent of their income into savings, while men only 7.9% of their income.
More savings means that women have more power for diversifying their investments into high-return aids like cryptocurrency.
Women are successful investors
Women evaluate risk in almost everything and alleviate them in the best possible way.
According to research, female investors can weigh risks before making investment in an asset class.
Hence, Women can be more analytical in cryptocurrency investments. While investing in volatile market like cryptocurrency, their cautiousness prompts them to make a right decision.
Cryptocurrency as Way Forward for Financial Inclusion
As per the Global Gender Index, a report by the Women Economic Forum on the overall discrepancy between women and men across 149 countries, found that in around 40% of the countries, women don’t have equal access to financial services.
Without the ability to transact money and open bank accounts, women lose the opportunity to succeed and grow.
That’s the reason they should learn more about cryptocurrency tips for women investments.
India is moving towards better financial inclusion. Still, some parts of rural India witness lower contribution of women in financial activities.
Due to lack of financial facilities and awareness available for these female to be financially independent.
Cryptocurrencies can be really emancipating for women, specially those who doesn’t have bank account.
In addition, since cryptocurrency has low barriers to make entry in it, you just need access to smartphone with internet connection and some cryptocurrency tips for women investors to get started.
Crypto can be a powerful tool to help the world move forward toward financial inclusion, as it doesn’t need anyone’s approval from a third party.
Summarizing why women should learn cryptocurrency investments right row, that the cryptoshpere is perhaps the most attractive opportunity for women.
They can take responsibility of their choices and managing funds, exchange, selection of assets for trading, exchanging, and multiple approach to deal with cash.
You will have an opportunity to try yourself in new field, have increased monetary well-being and most importantly you will gain financial freedom.