Statistics show that women make up nearly half of the world’s population. While this is true, women represent only a tiny fraction of the financial industry. The cryptocurrency space is dominated by the male gender (as investors). However, if utilized properly, it could give women the same advantage as men, making both genders active participants in the economy.
The decentralized and digital nature of cryptocurrencies promotes the democratization of financial services, giving both genders a fair shot in the crypto space. Moreover, a solid grasp of cryptocurrencies could help women attain economic power from the government, banks, and other financial institutions, predominantly occupied by men.
How cryptocurrencies could favor women today
- Financial Independence
A typical cryptocurrency environment presents an equal opportunity to both men and women, unlike the biases in some financial institutions, where women are limited to a few services. However, cryptocurrencies have nothing to do with gender and their ability to understand its concepts: what they are, how they work, where to trade, and how to become profitable. This is what determines their cryptocurrency journey in the long run.
- Crypto Empowers Women to Be Digital Money Makers
The blockchain empowers cryptocurrencies, and one of the essential features of the blockchain is decentralization. This feature makes it impossible for crypto transactions to be governed by a single entity. Without a central authority, women can make investments without intermediaries, like financial institutions. This way, women have more control over their finances, giving them the same opportunity to become financially independent as their male counterparts.
- Better Investment Opportunities
Investment has been a challenging venture for women in past centuries. For example, it wasn’t until the last three to four decades that women could have their retirement accounts without having their husbands or fathers as signatories. However, with crypto in the picture, women can now participate in high investment opportunities via trading or mining. For instance, a woman who bought 1 BTC in September 2020 (approx. $11,000) and held it until September 2021 would have made over $30,000 profit. So who says cryptocurrencies are only for men?
- A Safe Space for Financially Worried Women
Women have bills to pay just as much as men, if not more. This could make them worry too much about making money, leaving them vulnerable to internet scams. Cryptocurrencies serve in the interest of women since it doesn’t require one to provide any sensitive information that individuals and financial organizations could otherwise exploit. Moreover, investing in cryptocurrencies protects women from institutions that charge substantial amounts for interests on loans.
- Equal Pay
Gender discrepancies are significant in many cultures, and it makes women less likely to provide for their families. Sometimes, women are paid less than their male colleagues, even for the same position. Cryptocurrencies stand against all of these as it provides the same financial independence and doesn’t determine one’s profit based on gender.
Final Thoughts
Women make up almost half the world’s population but they’re still the most vulnerable, which makes financial empowerment and independence an essential topic for them. As the world continues to become more receptive to the female gender, cryptocurrencies have a significant role in women’s financial freedom. It provides an environment that leaves room for better economic diversity, more opportunities for women-owned businesses, healthier families, improved social mobility, and millions of financially independent people worldwide.
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