For every five cryptocurrency investors in the UK, 2 are women.
The world of cryptocurrency investing has come a long way from when young, single, and tech-savvy finance experts dominated it. Today, more diverse people are turning to cryptocurrencies as new alternatives to traditional investments. And the current global economic climate has only served to fuel this trend.
A recent Gemini State of Crypto Report has revealed that women are increasingly involved in cryptocurrency investing in the UK. While they still represent a smaller proportion of cryptocurrency investors overall, the report suggests that women invest at higher levels than their male counterparts. This is a positive sign that cryptocurrency investing is becoming more diverse and inclusive than ever before.
Women make up more than half of the total crypto investors (53.4%), investing between £1,000- £5,000.
Following the Gemini report, of the 13.5% of current or previous crypto investors, 41.6% are women. Of the 9.0% of those who are planning to invest, 40.0% are women. With previous research suggesting only 21.0% – 22.0% of cryptocurrency investors were female. These new figures demonstrate that more women are actively engaging with digital assets than ever before. They represent a significant shift in the gender dynamics of UK crypto investors, with more women investing in digital assets in 2020.
In addition, the majority (56.9%) of crypto investors are in relationships — either married, in a civil partnership, or living with a partner — compared to 34.5% who are single.
Traditionally, cryptocurrency investors have been in the IT and Telecoms industry. The research indicates that the UK crypto investor works in a wide array of industries, with the top sectors including IT and Telecoms (14.9%), Architecture, Engineering & Construction (14.4%), and Retail (12.9%). Nearly half of investors work across sectors ranging from Advertising to Financial Services to Healthcare.
The data shows a great variety of income, meaning that you don’t need to earn loads to start investing in crypto. Among the crypto investors, 21.4% have an annual income between £45,000-£55,000 and 35.5% a lower average income of £25,000-£35,000.
“There’s been an increasingly diverse range of consumers either currently investing or planning to invest in crypto, in terms of gender, location, and other characteristics. Perhaps unsurprisingly, the data confirms how the COVID-19 pandemic has undoubtedly changed behaviours, from technology usage and content consumption to investment decisions and intentions”, says Blair Halliday, Head of UK, Gemini.
Online platforms attract more women investors
The rapid growth of women investors on online investment platforms such as eToro and RobinHood verifies Gemini’s research data. According to the world’s leading social trading and investing eToro, the company recorded a 366% increase in the number of women enrolled on the platform than the 248% increase in male users in December 2020, in comparison to the same period in 2019.
The commission-free stock trading and investing App RobinHood has also seen a 7-fold increase in the number of women actively investing in cryptocurrencies in the past months.
Statistics published by eToro also showed that although the fast adoption, women represent only 15% of Bitcoin investors, registering a 5% growth over the previous year. Despite the slight increase, it testifies to a growing trend among women investing in digital currencies.
With the expansion of safer online investment platforms, the trend is that this rate will increase steadily over the years.
“Technology is allowing more women to invest,” says Heloise Greef, a researcher at the University of Oxford who has been using eToro since 2016, according to Insider. “Investing has been an option for an elite club, but now with the rise of investment platforms online, anyone can participate.”
More and more women are entering the world of cryptocurrencies, not only to trade but also in previously predominantly male functions, such as developers, business leaders, and analysts. They’re leading the path for more investments opportunities for women worldwide.