Is there an imbalance between males and females in the cryptocurrency industry? Yes — but what’s causing it, and can it be changed? That’s what Silicon Valley entrepreneur Britt Morin is asking investors to consider, as the arena is currently dominated by men.
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Women Aren’t Trying Enough
According to one source, only 30 percent of cryptocurrency investors are women. As the founder and CEO of lifestyle brand Brit + Co, Morin recently held a blockchain event designed to educate women on the subject.
The young entrepreneur has repeatedly expressed her concern over the lagging female presence in digital currency, saying women aren’t doing enough to learn more or push beyond the limits set by males.
“It’s a cycle that continues just like the VC world, where a lot of women aren’t participating because they’re not socializing,” she explained. “The culture of men I see in Silicon Valley investing in crypto – they’re in Telegram groups, WhatsApp groups, tweeting about it, texting about it, and therefore, there are similar-minded people to help you get involved.”
Learn Everything You Can
Morin’s seminar consisted of eight speakers, six of whom were women. Numerous topics were discussed – everything from “HODL-ing” to the science of cryptography.
Interestingly, present studies show that women are more likely than men to invest in “work savings plans” like 401Ks and IRAs, and female customers make up most of these investing platforms.
But crypto is a different story. Arianna Simpson, founder of the crypto investment fund Autonomous Partners and one of Morin’s speakers, mentioned:
“There’s this kind of unspoken expectation for women that you need to be taught something or need to be an expert before you can do anything, whereas men are like, ‘Oh yeah, it’s fine. I just invested my life savings in KuCoin, and I’m going to be a billionaire tomorrow.”
Don’t Believe Everything You Hear
Since first entering the Bitcoin space in 2013, Simpson said all she’s heard about bitcoin is that “it’s a bubble”, and a scam to be dismissed outright. She believes most women are being fed the same information, and are not researching the subject further before making a final decision.
Speakers at the event acknowledged that most attendees were beginners, or new to crypto-trading. Thus, they kept their advice simple: buy a little bitcoin to see what happens. Experiment with different wallets, and eventually learn to invest long-term. Listeners were advised to read everything they could, listen to podcasts, gather information accordingly and above all, network. Get to know people who could advise them on where to go and which routes to take.
“Think, obviously, about the risk of what you’re putting in,” Simpson explained to her audience, acknowledging that crypto wasn’t a surefire investment and could be a little scary. “But really think about what is the risk of not investing, and not learning and not participating. I think, over a period of decades, if you invest the time, invest the money and really start participating, you will do well.”
Can we expect more women to be involved in cryptocurrency in the future? Post your thoughts below.
Images via Wikipedia, ChipIn