Who hasn't been thinking of allocating some of their savings for investment in cryptocurrencies or blockchain?
Over the last few months, as Bitcoin continues to surge to unprecedented highs, people from all over the world have been contemplating whether they should risk some of their money into this new asset, but does this include women?
The number of women trading Bitcoin on @etoro has doubled compared with the last bull run in 2017...— Edward Robinson (@EddieRob235) December 11, 2020
Interesting datapoint in this story I wrote with @BenStupples for @wealth... https://t.co/tmvgpNJ7Jg via @business
At the start of 2020 and before the novel coronavirus outbreak has spread fear and instability across the globe, women made up about 10% of Bitcoin traders only, which is considered quite a low figure.
Whether it is because of the novelty of cryptocurrencies and the lack of information on its source, mechanism, or safety as an investment, women have been noticeably taking fewer risks in the crypto world, when compared to men.
However, the changes that have followed the pandemic, including trading almost entirely online, in addition to cryptocurrencies finally becoming amongst the world's "safest havens" amid an acute financial crisis, have all contributed to an increase of interest on women's part.
During the first few months of quarantine in the first quarter of 2020, the number of women in the crypto world had increased by 3.24%.
Similarly, the online trading platform eToro reported a 366% jump in the number of women signing up since December 2020, compared to 248% for men.
These increases can be explained by not only women's interest in a safe investment, as more and more billion-worth businesses have started using cryptocurrencies, but also by how the digital-based practices, we have been using extensively since the pandemic, have enabled more and more women to have their own digital wallets and have full control over their finances.
One of the perks of 2020 has been how investing in the crypto world has been expanded to more than just elite businesspeople and investors, and has become an interest of average people, who want to make sure their assets are safe, and can be double or triple in no time.
In the Arab world, the conversation over cryptocurrencies has been making its way to women in recent weeks, especially that many experts are increasingly warning of the volatility of the market, advising individuals of only investing amounts of money they don't fear losing, such as the Lebanese business executive Danielle Hatem, known for her Instagram channel.
At Al Bawaba Business, we have our own super-expert on cryptocurrencies, Areej Salem. Writing Al Bawaba's comprehensive and cutting edge weekly crypto recaps, Areej has an extensive background on the different cryptocurrencies, the world is watching closely these days.
Areej's interest in the crypto world began back in 2016 when Bitcoin started making news headlines and that developed following her decision to join the editorial team of Arabbit crypto news and educational website in 2017.
I started to get familiar with the terminology of cryptocurrencies and exploring the underlying technology behind them which is the blockchain. It wasn’t until 2018 that I made my first personal investment in bitcoin as I tried to practice what I learned about trading, the atmosphere and the cycle of the crypto market. - Areej Salem
She also explains that her immense interest in blockchain and crypto led her to continue working with many crypto firms like Coinmena, Pukkamex, ICO Box, and Jordan Bitcoin Trading Group (JBTG).
Areej also highlights that her interest has only gotten stronger out of her "belief that cryptocurrencies are the new game-changing revolution that will transform our lives, change the way we perceive money, reshape businesses, and the world; it’s definitely the new internet."
Finally, Areej addresses Al Bawaba Business readers saying;
"Just remember: If you are reading this article, congrats; you are early to Bitcoin because it’s still an uncharted territory to most of the earth's population. And if someone told you Bitcoin is a bubble and has no value just say it’s as real as any fiat bill in your wallet but at least Bitcoin can’t be printed endlessly!"
Do you think women will show more interest in cryptocurrencies as their prices continue to rise? Which digital currency do you think will be the most popular amongst women and why?
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