The share of women owning cryptocurrency in Australia has been steadily increasing, according to the 2021 Independent Reserve Cryptocurrency Index (IRCI) survey.
The survey found that the percentage of female owners of crypto increased from 10.3% in 2020 to 20% in 2021.
The number of female Bitcoin (BTC) owners rose from 8.3% in 2020 to 14.8% in 2021.
Independent Reserve is an independent crypto exchange that has been operating since 2013 with the company’s headquarters in Australia.
Board of Blockchain Australian deputy chair Karen Cohen confirmed to Cointelegraph that more women are entering crypto space. Cohen also said that the crypto space is less risky than is generally believed.
Independent Reserve co-founder Adrian Przelozny argued that cryptocurrencies are becoming a more mainstream and broadly accepted asset, allowing different consumers to explore it. As the risk of investing in cryptocurrency has been falling, so has female participation in the sector increased.
Women are traditionally more risk-averse, as per a study released by Grayscale back in 2019. However, according to IRI, they are far more likely to listen to advice from friends and family when deciding about crypto. Some 56.7% are inclined to follow up on advice. Just 42.2% of male consumers are likely to follow up on advice.
Cohen believes that for more female crypto investors to be involved in the sector, more women need to be seen on an industry level. As she puts it, “we are what we see”. While cryptocurrency investment still has a gender problem this inequality seems to be directly associated with the risk involved with crypto.
Women are more likely to join assets that are established and are based on good investment practices rather than pure speculation.