A new academic study has revealed that gender is linked to psychological and demographic factors when it comes to investing in cryptocurrencies.
The new study sheds light on the differences between men and women in various aspects of cryptocurrency trading and investing, as 60% of women are either very limited or fully knowledgeable about crypto assets, a major factor affecting investment. They were revealed not to have it, but two-thirds of the men had moderate to advanced knowledge of cryptography.
Studies have found that better public knowledge leads to more risk, with men pursuing investments more than women and inevitably taking on more risks. The main drivers behind women’s tendency to experiment with different investment tools are low income and low levels of knowledge of cryptocurrencies.
Studies accepted Journal of Business, Economics and Finance On December 24, gender was claimed to be a factor influencing an individual’s financial investment decisions. Researchers Çağla GülŞenkardeş and Ozan Akadur discussed the data obtained through a computer-assisted survey conducted in Turkey to reveal behavioral and psychological gender-related differences in cryptocurrencies.
Shenkardash has worked as an interdisciplinary academic researcher with a focus on technology and gender. She has been actively involved in the crypto ecosystem for over five years and has been studying the exclusion of women from the crypto industry using specific data collected for personal monitoring and research. Commenting on the study, she told Cointelegraph:
“The culture of male dominance built into the cryptocurrency industry is evident in both the demographic and psychological factors that influence financial investment decisions.”
Shenkardash also shared her personal observations that women have a low level of knowledge about crypto, which leads to low investment ratios, among other reasons.
Related: 10 women who made a difference with cryptocurrency in 2021
But there is hope. Shenkardash said there are platforms active around the world that aim to increase women’s participation in the cryptocurrency industry as both traders and developers. She said:
“I believe that with the growing awareness of digital poetry that is not related to gender, the gap between female and male crypto investors will close.”
As Cointelegraph’s Kyra Wright points out, the current numbers need to be greatly improved to achieve an even playing field. Women are still less likely than men to invest in cryptocurrency, with 16% of men investing in 7% of women, according to a CNBC study.
However, Wright concluded that the cryptocurrency industry has the potential to empower women and enhance their financial control, a tradition between women and financial freedom as mainstream adoption begins. He added that the barriers are already beginning to collapse.