One in 10 people in America invests in cryptocurrency

Men Investors in Cryptocurrency Twice as Women

Gender disparity has plagued the financial services industry for decades.

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From the source

A poll conducted by the American "CNBC" news network showed that the number of men investing in cryptocurrency is twice the number of women investors. The survey indicated that 16% of the men who participated in the survey are investors in the cryptocurrency market, compared to 7% of the women who participated.

The survey was conducted from August 4-9, 2021, among more than 5,530 people in the United States, of whom 2,980 have investments in stocks, bonds, mutual funds, ETFs, or cryptocurrencies.

The survey revealed that women's investment rates in cryptocurrency are lower than men's, despite women's historical struggle to keep up with men in more traditional investment sectors. The data showed the same gender disparity in cryptocurrencies as in the ownership of exchange-traded funds (14% of men vs. 7% of women), individual stocks (40% of men vs. 24% of women), and mutual funds (30% of men vs. 20% of women), plus real estate (36% of men vs. 30% of women), and bonds (14% of men vs. 11% of women).

He noted that gender disparity has plagued the financial services industry for decades, but cryptocurrencies (such as Bitcoin, Ethereum and Dogecoin) have been promoted as a way to democratize a field traditionally reserved for men and welcome new female investors. He pointed out that one in 10 people in the United States (11%) invests in cryptocurrencies, but so far this sector has not been able to attract women's investments.

The cryptocurrency market is the only financial sector with a higher participation rate among younger adults than older adults. The survey showed that 15% of those aged 18-34 own cryptocurrency, compared to 11% of those aged 35-64, and 4% of those 65 or older. People of all races are equally likely to own cryptocurrency: 11% of whites, 11% of blacks, 10% of Hispanics, 14% of Asians, and 13% of people of other races have an investment in cryptocurrency. Although cryptocurrencies have broken down barriers in investing by race, they have not been able to do the same by gender.

Women in the United States suffered financial marginalization, as the financial world in general excluded women and people of color for decades, and women could not get a loan, sign a mortgage, or even own a credit card, without a male partner who could sign with them.

People of color have also faced investment discrimination.

The survey showed that black women own real estate estimated at half what black men own, a third of white women, and a quarter of white men.

Similarly, only 51% of black women say they have a bank account, compared to 63% of black men, 71% of white women, and 78% of white men.

Being a still nascent industry, the cryptocurrency market is well positioned to avoid many of the discriminatory challenges that the traditional investing world has inculcated over the years.

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