Empowering Women in Business Leadership Through Cryptocurrency: Reimagining Access to Capital can fundamentally reshape the landscape of business ownership and leadership opportunities. In this context, the transformative power of cryptocurrency harbors the potential to create a more equitable playing field for women.
Yet the pivotal question remains: can it genuinely shift the dynamics for women in business?
Many women within the sector are confident that cryptocurrency’s latent potential could significantly benefit those women exploring innovative investment and entrepreneurial opportunities.
“The future of crypto is female,” asserts Lauren Remington Platt, a renowned fashion and beauty entrepreneur who made history as the inaugural head of global luxury partnerships at FTX, a significant cryptocurrency exchange.
Despite the current male dominance within the cryptocurrency sphere, an increasing number of women are breaking barriers, recognizing its potential for investment and career advancement.
Several women have elucidated their commitment to cryptocurrency, not solely for immediate financial gains, but as the bedrock for their burgeoning businesses.
Women’s Engagement in Crypto Gains Momentum: Survey Insights
BlockFi, offering crypto-centric financial services,s including crypto-backed loans and the world’s first crypto rewards credit card, also champions the female perspective on crypto. Led by its female COO, the company recently published its second survey: “Real Talk: Women x Crypto 2.0.”
The survey’s key insights include:
- 24% of women reported owning cryptocurrency, with 70% being “HODLers,” having bought but never sold crypto (compared to the overall market average of 55%).
- Bitcoin (71%), Dogecoin (42%), and Ethereum (18%) are the most popular cryptocurrencies among women.
- Among crypto-owning women, 75% have only traded, yet to explore the broader ecosystem’s benefits, such as earning interest & rewards or participating in mining or staking.
- Crypto is recognized by 92% of women, with nearly a quarter (24%) currently owning it.
- However, 80% still find crypto perplexing, and 72% perceive it as a hazardous investment.
- Roughly one-third of women surveyed plan to buy crypto in 2022, with 60% of those intending to do so within the next three months.
- One in five women surveyed is optimistic that crypto could help them achieve their financial goals, both big and small.
BlockFi’s COO, Deborah Barta, who joined the company following a 15-year tenure at Mastercard, provided additional insights into the surveyed women’s demographic profile.
The surprising increase in women’s knowledge and interest in purchasing crypto was a positive outcome of the survey. According to Barta, there is considerable interest among women to invest in crypto and pursue a career in the crypto industry.
Barta argued that women’s societal conditioning to save rather than invest is the main obstacle in their path to crypto. However, steering clear from crypto could mean missing out on superior returns compared to stocks and precious metals in 2020-2021.
As the perception of cryptocurrency as a legitimate financial instrument continues to gain traction, more women are being enticed into the arena.
Gen Z Women and Crypto: A New Investment Paradigm
Anam Lakhani and Eve Halimi, founders of Alinea Invest, have engineered an investment platform that resonates with Gen Z, enabling this new generation to invest in alignment with their interests and individuality. Given its compatibility with their business model, they aim to incorporate cryptocurrency into their platform.
Female involvement in crypto ownership rose from 7% in 2019 to approximately 15% in 2021. This surge in interest prompted Alinea’s founders to market crypto specifically toward women. They believe that the encouragement of women to delve into crypto revolves around effective messaging, marketing, and community-building.
Cryptocurrency: A Gateway to Wealth Creation
Min Kim, a college student specializing in blockchain technology marketing, launched Blockcultural after gaining invaluable insights from Silicon Valley startup founders and CEOs.
As an Asian woman, Kim believes that her ability to empathize and understand diverse demographics provides her a significant advantage in recognizing the unique aspects of the crypto culture distinct from mainstream finance culture. Kim also encourages women to start learning about crypto, taking incremental steps,s and not being deterred by its technical complexity.
Bridging the Traditional and the Revolutionary
Raina Casbon-Kelts, Chief Experience Officer at Gilded, is one example of a Millennial woman who successfully transitioned from a traditional career path to one rooted in crypto. Gilded enables crypto transactions to be recorded like conventional payments, thus facilitating the integration of revolutionary technology with traditional systems.
Democratizing the Traditional Finance Boys’ Club
While crypto needs to interface with traditional finance, its unique culture makes it more inclusive and appealing to women than established systems.
Valentina Drofa, the CEO and founder of the international finance and fintech PR consultancy Drofa Comms, appreciates the rapid growth and change in the crypto industry, providing ample opportunities for women leaders to flourish and secure funding for innovative ideas.
Drofa encourages women to explore the career possibilities that cryptocurrencies offer. She notes that the technology’s application extends beyond mere investments, enabling women to gain control over their finances and, consequently, their lives. “The possibilities are endless since it is just the beginning,g and the moment is now,” she adds.