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Women in Crypto: Why It’s Important To Get More Involved

Men have saturated the crypto consumer base with twice as many men as women investing in cryptocurrency. This is a great time for new investors, especially women, to enter the market because new regulations have slowed its growth and decreased the value of some cryptocurrencies.

Why should women be involved in cryptocurrency?

Although there are fewer women than men involved in cryptocurrency, there are many female success stories. Some have been able to start their own company, others have found a career, and others have built wealth, all thanks to blockchain technology.

Here are three reasons why women should consider getting involved in crypto.

It’s a way to build wealth

Perhaps you have heard about the hundreds, thousands, and sometimes millions of dollars people and businesses have made buying and selling crypto or working in the industry.

Ziprecruiter recently announced that the United States' national average salary for cryptocurrency traders is $94,427 annually. Women should not expect to be making this amount right away, but it is an attainable goal to work towards.

Additionally, women can create financial autonomy. Women typically make less than men, so it can be more difficult to build up the funds needed for opening a brokerage account for the stock market. But purchasing crypto requires fewer funds, so it is more attainable. In fact, investments can start with as little as $10.

Good for career growth

Women can use cryptocurrency to build a career as well as wealth since investing is not the only way you can be involved in the industry. There are many jobs and careers that have emerged in the field.

Opportunities include but are not limited to blockchain accounting, marketing, software engineering, web development, journalism, and more. Careers in this field are plentiful and in demand as the technology is still in its infancy. The field may currently be male-dominated, but women must act now to take advantage of the existing prospects and equalize the number of men and women involved.

Allows you to have an influence

Getting into the industry will give women the chance to have their voices heard and their ideas implemented. This provides a way for women to influence the field and how it will evolve. Furthermore, their advancement into the space will show others that it is possible to enter the industry.

Women currently in crypto & how they are involved

There are many influential women involved in cryptocurrency. Some prominent names include:

Nina Nichols - President and Founder of Global Women In BlockChain
  • Their leadership staff is a full female team
  • The organization aims to empower women to lead in blockchain technologies worldwide
Alakanani Itireleng - Founder and CEO at Satoshi Centre
  • The center provides mentorship, education, and training regarding blockchain technologies
Jinglan Wang - Co-Founder and CEO of Optimism PBC
  • Develops sustainable infrastructure for Ethereum
Erica Kang - Founder of KryptoSeoul
  • Focuses on building communities in Asia
Manju Mohan - CEO and Co-Founder at Ionixx Technologies Inc
  • Software development for mobile blockchain technologies

Barriers to entry

There are various obstacles women must overcome to enter the crypto world, and these barriers often act as deterrents to entry. Understanding what these barriers are is the first step in overcoming them.

The knowledge gap

There is an overwhelming amount of information to learn when it comes to blockchain technology. Those looking to gain access must be familiar with terms, concepts, current events, general operations, and laws/regulations. Women new to the concept must familiarize themselves with the field’s vocabulary.

People are vulnerable when they are unfamiliar with key terms and general operations. This is what makes newcomers more susceptible to malicious attacks like scams or retrieving information from non-reputable sources. Becoming the victim of these attacks can be off-putting and drive women away from crypto trading. Luckily, there are many ways to check a person’s or business’ reputation online.

Another gap in knowledge has to do with getting started and how the technology is used. There are several resources for this information, and they should cover what blockchain is, how to invest or exchange currencies, and common terms. Coinmetro is one resource that covers current events and provides educational materials.

In addition, the industry is experiencing a rapid influx of regulations and rules. On the one hand, it may be easier for newcomers as they can learn as they go rather than having to adjust to new rules. On the other hand, these regulations are rapidly evolving and will need to be monitored with care to ensure compliance.

It’s a male-dominated world

Women may be sparse at networking, training, and blockchain events. This ratio may intimidate many women from attending events that could be pivotal to their careers.

Also, since many women are new to the field, they may be more interested in learning how to grow their careers. However, the topics covered may cater to those who have been in the industry for a while.

Gatekeepers

Niches and communities tend to have gatekeepers. These community members attempt to keep outsiders who may disrupt or corrupt their community out. The intentions of gatekeepers may be to protect the integrity of the space, but their actions can alienate and drive away newcomers. To be accepted, anyone looking to enter a new space should show genuine interest, care, and patience.

Conclusion

Despite the current male dominance within the field of cryptocurrency, there are several ways for women and minorities to enter the space and begin to reap the rewards of the growing sector. Individually, women will be able to gain financial stability, grow their wealth, and start or develop their careers. Moreover, it will diversify the field, reduce barriers to entry, and showcase the capabilities of women. Most of all, those who get involved now will pave the path to the future of cryptocurrency.

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