Know how cryptocurrency is helping women all over the world gain financial freedom
Women have historically been underrepresented in the decision-making process for investments, but new reports and statistics indicate that this dynamic has been changing over the last two to three years. Women have battled and worked for financial freedom and stability for many years. While entering employment was a positive step, having control and security over one’s finances is as crucial.
But everything is altering. With cryptocurrency as one of the main financial tools, women are increasingly learning to manage their money better.
Despite fewer women investing in the markets, this is the case. With the introduction of the cryptocurrency market, women are already making between 15 and 20 percent of all investments, and this number is rising.
According to data on usage patterns collected by cryptocurrency exchanges as of March 2021, women were favoring cryptocurrencies like Bitcoin, Ripple, Cardamon, Ethereum, and Tether more and more. The number of women investors has been steadily rising year over year, according to Shivam Thakral, CEO of BuyUcoin. In 2019, 4,327 women invested in the business. In 2020, this number rose to 7,890, and in the first three months of 2021, it reached a staggering 40,225. Shivam theorizes that this change may be the result of a bull run, more instructional content, and the availability of information regarding cryptocurrencies on news and media channels.
They now have more time to study and research cryptocurrency thanks to the Supreme Court of India’s decision to overturn the banking ban and the lockdown that followed the outbreak. They learned about the technology’s potential as well as the promising employment opportunities the sector has to offer as they read more about it. WazirX has also been working on several educational projects to help the general public understand cryptography.
According to research from the tax platform ClearTax, there has been an increase in women investors overall. It claimed that on average, women invest more than 12.7% of their income than men do.
Additionally, Satvik notes that the amount of time spent online by women has increased from 18 to 28 minutes. Women living in nations where financial institutions have failed or are too corrupt to be trusted may find relief thanks to the blockchain. Without interacting with conventional institutions, these different women can access and transfer money to and from friends and family who live abroad using cryptocurrencies.
Women are beginning to use bitcoin trading as a means of avoiding these difficulties. Women in local communities and groups can make tiny but real earnings from these activities thanks to their shared digital knowledge, which they can access and use to augment their incomes without the help of their husbands or conventional banking systems.
Without interacting with conventional institutions, these different women may access and transfer money to and from friends and relatives who live overseas using cryptocurrencies. The potential financial rewards of funding women-owned enterprises are increasingly attracting the attention of blockchain corporations.
Cryptocurrencies have the potential to empower women financially and support their entrepreneurial endeavors. However, the success that the participating women have had is encouraging for the future. To guarantee that women have financial freedom and access to the support they need for their startup initiatives, it is crucial to ensure that they continue to have equal and expanding access to blockchain technology and education.