NFTs are a ‘fantastic gateway’ for women to break into crypto: Zuckerberg Media CEO

We’re less than a month into the new year, but so far 2022 hasn’t been crypto-friendly.

The price of Bitcoin (BTC-USD), the grandfather of digital currencies, has had its worst start to the year since the dawn of cryptocurrency, dropping nearly 40% from a record high, and analysts say future volatility is ahead. Prepare to improve.

But true believers do not hold back. Cryptocurrency is mainly traded by young people, but research shows that more and more women are turning away and preferring to trade cryptocurrency over stocks.

According to a survey conducted by the University of Chicago NORC in 2021, 41% of cryptocurrency traders are female, while females make up only 38% of stock traders.

“Thank you very much for the crypto sale that you did earlier this year,” Randy Zuckerberg, CEO of Zuckerberg Media, told Yahoo Finance Live.

Zuckerberg, sister of Meta (FB) CEO Mark Zuckerberg, recently joined crypto exchange OKcoin as the first member of the brand’s advisory board. Through her role, Zuckerberg will help OKcoin’s female customer base grow from 24% currently to 50% by 2025.

“I’ve had a tough battle in the tech industry for the past 15 years. In most companies, I’ve been the only woman in this room,” Zuckerberg said. “So when I first started getting excited about cryptocurrency, I thought it was an opportunity for women to enter the ground floor.”

Studies have shown that women are more risk averse than men when it comes to comprehensive investment strategies. How to entice a woman to invest in one of the most volatile assets on Wall Street?

Zuckerberg believes that NFTs (non-fungible tokens) are a “cool gateway” for women to break into cryptocurrency.

“NFTs are a great way to dip your toes into crypto,” says Randy Zuckberg (left), who is with OKcoin CEO Hong Fang (left). Image Provider: OKcoin

“When we think of cryptocurrencies, I think all you can do is buy, sell, and sell, but what really attracted me to cryptocurrencies is naturally our life’s business, our collectibles, our communities. It’s a lot of things, identity, buying art, buying music, and so on. It’s a natural extension of what we already do in our daily lives,” says Zuckerberg. “For anyone new to the cryptocurrency space, NFTs are a great way to step in and learn more about the industry.”

Zuckerberg stated that her collection is unique because she is a “huge” NFT collector and that each NFT is created by an artist.

OKcoin is spending $1 million to get more women into the cryptocurrency market and wants to be role models and leaders. Former Goldman Sachs CEO Hong Fang is part of the 5% of women who currently play a leading role in the crypto space.

Fang told Yahoo Finance Live that the biggest drivers of growth on the OKcoin platform in 2021 are youth, women and developing countries, and for the first time since the crypto exchange launched in 2013, long-term holders of cryptocurrency have been as well. He said it increased. former.

According to OKcoin’s “State of the Cryptoverse” report, in 2021 the number of customers owning Bitcoin increased by 436% and the number of customers owning Ethereum (ETH-USD) increased by 305%.

“If you actually zoom out a bit and look at the history of crypto … when there were bulls and bears markets, that was when many of the newcomers left or stayed locked in,” Fang said. He said. “I think these different cycles in the market are actually creating a small window for people to make quotes without quotes and turn into believers.”

Fang adds that he is working to change the perception that cryptocurrency is a male-dominated industry. “Looking around your team or seeing a lot of friends made with cryptocurrency… There are a lot of female leaders and a lot of important contributions and contributions to this field.” She said [women] More votes to change this perception. “

Alexis Christophoros is a broadcaster and reporter at Yahoo Finance. Follow her on Twitter Tweet embed..

For more information about cryptocurrencies, check out the following:

What is Dogecoin and how to buy it

Ethereum: what is it and how do you invest?

Top 21 Cryptocurrency Leaders to Watch in the Second Half of 2021

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