The age of the ‘crypto bro’ could be coming to an end according to new data.
Women are diving into the male-dominated crypto space in increasing numbers with exchange Bitstamp registering a 198 per cent increase in female investors on its platform this year.
In the first three quarters of 2021 trade volume generated by female investors increased by 58 per cent over the same period last year, with women aged 30-35 found to be the most likely to trade on Bitstamp while the greatest volume generated came from women aged between 55 and 60.
Commenting on the figures, Bitstamp’s Chief Commercial Officer Mel Tsiaprazis, said, “it is a great step forward to see increasing numbers of women participating both as individual investors, and founding their own trading firms.
“This is but another indicator that cryptocurrencies are becoming increasingly mainstream and they are here to stay, with more and more people wanting to access the benefits of crypto,” she continued.
While the sharp uptick in female users suggests that women are increasingly confident participants in the space women only accounted for 17 per cent of total site users. Far from being alone in attracting predominantly male traders, the latest available data from crypto exchange giant Binance indicated that 95 per cent of crypto holders are men.
“We still have a lot of work to do to get gender equity in the space, but the increase in investing matches the increase of women working in the space, which all points in the right direction.” said Bridget Greenwood, founder of The Bigger Pie, an organisation which supports women in blockchain and tech.
“While women only comprise 17 per cent of Bitstamp’s customers, we’re seeing that percentage rise each year,” she added.
Dr Maxine Room, a diversity and inclusion activist who was the first black principal of a further education college in Wales and the second in the UK, also commented on the skew towards male investors in the space putting it down to prejudice in education.
“Girls are still not encouraged enough through their compulsory school years to take and develop their STEM interests. There is a prejudice at play in careers advice,” she said.
“Crypto is here to stay. The girls of today are the women of tomorrow and they need to be equipped,” she added, pointing out that little will change without a concerted effort from the education sector and employers.