- According to a Gemini survey, over 40 percent of cryptocurrency investors in the United Kingdom are women
- The survey marks a significant shift in the involvement of females in the crypto industry
- 13.5 percent of the respondent are current or previous cryptocurrency investors
For a long time, the predominant narrative has been that men are more attuned to cryptos and blockchain technology than their female counterparts. We had earlier reported that although women contribute almost half of the world’s population, only 14% of them are involved in Bitcoin.
The question, “are women afraid of Bitcoin?” has been asked more times than necessary. There seems to be an answer to the question as a recent survey in the U.K. conducted by Gemini strikes a spark of hope for the rest of the world.
Female Involvement in Cryptos is Growing
A survey conducted by crypto exchange, Gemini, shows that the involvement of U.K. based women in the crypto industry is growing. On Friday, Gemini published a report that covered a total of 2,000 random respondents in the United Kingdom.
According to the survey which was performed in Q4 of 2020, 41.6 percent of the respondents who had a crypto investment were women. This marks a significant shift from the narrative that women are afraid of investing in cryptocurrencies.
According to Gemini, earlier findings had suggested that women in the U.K. make up around 21 – 22 percent of crypto investors.
In 2020, Grayscale noted that although both men and women share similar perceptions of bitcoin they invest differently. Although women hold one-third of the world’s wealth, only 14% of them hold digital currencies.
Although the number of female investors is on the rise, men tended to hold more cryptocurrency than women. For over £10,000, men represented 65.8 percent of investors. For investments between £1,000–£5,000, women made up 53.4% of the category.
Crypto Investors are Growing
Another important point in the report is the growing number of crypto investors. According to the report, 13.5 percent of the 2,000 respondents were current or previous cryptocurrency investors.
In 2019, research carried out by the Financial Conduct Authority, a U.K. regulator, showed much lower figures from 2020. The 13.5 percent of investors who are current or previous investors represent a 152 increase in the number of people involved in cryptos.
On the Flipside
- A man in California loses $27,000 in bitcoin after falling prey to crypto scammers
- The 48-year-old claimed the scammers tricked him into giving them the keys to his wallet
- The scammers placed a fake call through to the man, claiming to a Ledger representative, and that his wallet had been hacked
- In trying to ‘fix’ the hack, he provided his wallet key which was used in siphoning his funds
Age Distribution and Crypto Involvement
The younger generation has been known to dominate the crypto investment scene and this recent survey is no different. Cryptocurrency investors aged 18 and 24 represented 27.5 percent of the group.
Those aged 25-34 dominated the investment scene with 33.1 percent. Just like every other survey, there are those who express no desire to invest in cryptocurrencies. 57 percent of the people in this category were over the age of 55.
The largest portion of British cryptocurrency investors, 21.9 percent are situated in Greater London, followed by 14.6 percent from the West Midlands region.