A huge aspect in women’s proclivity to experiment with new financial instruments is their lesser income and lack of information about cryptocurrency.
Gender has been shown to be connected with both psychological and demographic characteristics in relation to cryptocurrency investing, according to a recent study.
A new study sheds light on the disparities between men and women in various aspects of cryptocurrency trading and investment, revealing that 60% of women have very limited or no knowledge of crypto assets, a critical factor affecting investments, whereas two-thirds of men have a medium or high level of understanding of crypto.
The study discovered that more overall knowledge results in males taking more risks since men monitor their assets more frequently than women do and do not resist taking more risks. A significant factor in women’s proclivity to experiment with new financial instruments is their lesser income and lack of information about cryptocurrency.
The study, which was approved for publication in the Journal of Business, Economics, and Finance on Dec. 24, suggests that gender influences individuals’ financial investing decisions. The researchers ala Gül enkardeş and Ozan Akadur examined data from a computer-aided survey done in Turkey in order to uncover gender-related behavioral and psychological variations in crypto.
enkardeş is a multidisciplinary academic researcher specializing in technology and gender. As a long-term member in the crypto ecosystem, she examined the exclusion of women from the business using personal observations and data collected specifically for the project. In response to the study, she stated,
“The male-dominated culture built within the crypto industry becomes visible in both the demographic and psychological factors that affect financial investment decisions.”
Şenkardeş also offered her own findings that women have a lesser degree of awareness about cryptocurrency, which results in a lower investment ratio, among other things.
However, there is hope. Enkardeş added that activist forums exist around the world with the purpose of increasing women’s engagement in the cryptocurrency business as traders and developers. As she put it:
“I do believe together with the increasing awareness on a gender-free digital verse, the gap between the female and male crypto investors will disappear.”
