Feminists have long protested the fact that in our society, it has always seemed to be one rule for men and another for women. When a man does something, it’s alright, but when it’s a woman, the double standard negatively paints her.
Money is something that definitely falls into this category. Women have long suffered the effects of the gender pay gap and bearing the brunt of caring responsibilities, but the fact of the matter is that women are not supposed to enjoy money in the same way that men do. While men are free to brag about their success and flaunt their wealth, women are expected to remain modest.
Crypto is gaining traction
Crypto has been on our radar for some time now. Starting out as a niche insiders club over ten years ago now, it has edged further and further into the mainstream towards widespread acceptance. The vast majority of people have now heard of crypto and major coins like Bitcoin, Ethereum, Litecoin and Tether. Signing up to the main exchanges and making basic transactions is no longer seen as controversial or out of the ordinary. True aficionados, such as early adopters and tech enthusiasts, might branch out to other coins, platforms and products, but most people will stick to the basics, making an initial investment and seeing how it grows.
The gender divide in crypto
Typically, women are seen as more risk-averse than men; receiving lower pay and often having more dependents means many women simply don’t feel able to take risks with the disposable income they do have. Historically, women have had less access to start-up capital and investment opportunities than men. As a result, these elements have created yet another space that is dominated by men. Wherever you turn, men far outnumber women when it comes to investing in crypto and NFTs. The question is how to overcome this gender divide: get those on the periphery to test the waters, and encourage those who are already on board to take things to the next level?
Crypto is still seen as uncharted territory
The same as in any fledgling industry, especially when a degree of risk is involved, advertising, endorsements and partnerships. In order to gain consumers’ trust, coins and exchanges are beginning to seek celebrity endorsements and partnerships as a form of advertising their new product, currency or feature. As we all know, investment in crypto is not backed or moderated by any government authority, assets or cash flow. There’s a reason why people draw comparisons between crypto and the Wild West. The uncharted territory of cryptocurrencies means they remain unregulated, with a small minority of users falling victim to scams and fraud.
Female celebrities are speaking out about the possibilities crypto offers
Through celebrity endorsement, many investors have latched on to the idea of investing in certain exchanges or coins. Endorsement from female celebrities in particular has led to a surge in the purchase of NFTs. Do NFTs appeal more to creative, female personalities, or is this due to a romanticized view of supporting a struggling female or minority artist, drawing women in by playing on their emotions and further marginalizing them from male-dominated spaces with bigger market potential. Much like the tendency for “greenwashing” in recent years, many people are now questioning whether the glossy optimism of these well-known female celebrities is a form of exploitation?
Can they be trusted?
It’s a gray area, as can often be found in the business area. Maybe these prominent figures do have their fans’ best interests at heart and simply want to share their methods for success. It’s important to remember that these celebrities are far more affluent than a majority of their fan base, and while they may mean well, they are not qualified financial advisors and have no formal education or training.
With this in mind, make sure you consider your sources carefully when learning about crypto.
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Although the material contained in this article was prepared based on information from public and private sources that IXFI believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and IXFI expressly disclaims any liability for the accuracy and completeness of the information contained in this article.
Investment involves risk; any ideas or strategies discussed herein should therefore not be undertaken by any individual without prior consultation with a financial professional for the purpose of assessing whether the ideas or strategies that are discussed are suitable to you based on your own personal financial and fiscal objectives, needs and risk tolerance. IXFI expressly disclaims any liability or loss incurred by any person who acts on the information, ideas or strategies discussed herein.