Digital Currencies and Women in Crypto
Digital currencies and crypto made their debut appearance back in the day when traditional monetary transactions faced severe contests globally. Just when the anomaly of transactions was hitting the economy hard, digital currencies made a royal debut. It gained momentum in no time as it helped to streamline financial transactions of all genres. Moreover, digital currencies welcomed women users, striking off gender bias in the financial space.
The enhanced security and ease of transaction made women more keen towards investment in this space. Women started getting engaged in more wealth accumulation through cryptos as compared to the traditional methods. A recent study revealed that almost 43% of individuals who are interested in Bitcoin investments are women. Well, that is a promising number! This indicates a brighter and better future, with more women investing and enjoying economic freedom.
There is a predominant understanding that technology will have a positive impact on the global financial system in the next 10 years. A survey conducted in the USA and the UK showcases that almost 93% of college-educated women believe that crypto will impact the financial space 10 years down the line. This indicates that the domain of fintech has promising momentum and outcomes. Many surveys reveal that a large section of young women believe that crypto has a major role to play in boosting their financial independence in the future.
Surveys have also revealed the fact that the current financial systems have clear signs of gender bias. Almost 39 percent of millennial women in the USA and UK showed interest in favour of investing and using cryptocurrency if it can make finance more accessible. Crypto certainly lowers and nullifies gender-based barriers, giving equal access to men and women to use and transact their finances.
In specific countries where access to bank accounts is limited only to men, crypto plays a phenomenal role. Access to technology can elevate women and make them comfortable dealing with their money. The World Bank survey report says that mobile money plays a generous role in bridging this gender-based gap.
In Lagos, Nigeria, women have access to bank accounts, but their cultural and traditional norms have held them back in dealing with their money. Crypto has stepped in powerfully to change the scenario. In such countries, womenfolk are breaking social taboos and have started using cryptocurrencies and managing their financial status.
The world of cryptocurrency brings in a plethora of affirmations through positive changes, the most prominent one being inclusiveness. Women have started experiencing breaking stereotypes and barriers in a male-dominated financial space with crypto. Independent financial transactions, involvement in investment, and prioritizing investment as a prime financial endeavour look supremely promising and phenomenal.
