Gender is linked to both psychological and demographic factors when it comes to crypto investingreveals new scientific research.
A new study has shed light on and revealed the differences between men and women in various aspects of cryptocurrency trading and investing 60% of women have very limited or no knowledge of crypto assets, a critical element affecting investing, while two-thirds of men have medium to high understanding of cryptocurrencies.
Better general knowledge leads to more risk-taking, as men follow their investments more often than women and do not avoid taking more risks, the study found. The tendency of women to try different investment vehicles is due to their lower income and level of knowledge about cryptocurrencies.
The study accepted by the journal Journal of Business, Economics and Finance on December 24, argues that gender is a factor influencing individuals’ financial investment decisions. The researchers Ã??aÄ??la GÃ¼l Å??enkardeÅ?? and Ozan Akadur analyzed data obtained through a computer-assisted survey in Turkey to uncover gender, behavioral and psychological differences in the crypto space.
Å??enkardeÅ?? works as an interdisciplinary academic researcher with a focus on technology and gender. An active participant in the cryptocurrency ecosystem for over five years, she has explored the exclusion of women from the cryptocurrency industry using personal observations and specific data collected for research purposes. Commenting on the study, he told Cointelegraph:
“The male-dominated culture that has been built in the cryptocurrency industry is evident in both the demographic and psychological factors influencing financial investment decisions.”
Å??enkardeÅ?? He also shared his personal observations Women have less knowledge about cryptocurrencies, which among other things leads to a decrease in the share of investments.
But there is hope. Å??enkardeÅ?? pointed out there are activist platforms around the world aiming to increase women’s participation in the cryptocurrency industry, both as traders and developers. He said:
“I believe that along with the growing awareness of a genderless digital style, the gap between female and male crypto investors will disappear.”
As Cointelegraph’s Keira Wright noted: The current figures need to be significantly improved to achieve a level playing field. That’s according to a CNBC poll Women are still less than half as likely to invest in cryptocurrencies as men: 16% of men invest versus 7% of women.
but The cryptocurrency sector has the potential to empower women and give them more control over their finances, concluded Wright and added Traditional barriers between women and financial freedom have already begun to crumble as mainstream adoption gains momentum.