BlockFi Survey Reveals Extent of Gender Gap in Cryptocurrency Investing
JERSEY CITY, N.J., Sept. 21, 2021 (GLOBE NEWSWIRE) -- BlockFi, a financial services company building a bridge between cryptocurrencies and traditional financial products, today published Real Talk: Women x Crypto, its inaugural survey on crypto assets. This edition focuses on the motivations, behaviors, and dispositions of female Americans to cryptocurrencies and investing more broadly.
According to the survey results, 94% of women have heard of cryptocurrency, but only 9% feel they know a fair amount about the asset class - illustrating a sizable gender gap in terms of industry participants. BlockFi’s research shows that the gender gap in cryptocurrency exceeds similar gaps in traditional investments such as equities, exchange-traded funds, mutual funds or real estate.
Only 29% of women surveyed say they are likely to purchase cryptocurrencies in the next year, despite 50% believing Bitcoin prices will go up in the next 5 years. Similarly, BlockFi’s survey found that there is a major hesitancy among women to take investment risks; less than one in four women are willing to take on more than a small amount of risk when investing.
In terms of evaluating various investment options, the survey showed that half of women (50%) rely on conversations with their family and friends to inform their financial decisions, which was more popular than engaging a professional advisor for financial counsel (39%). More than half (57%) of women reported waiting to adopt new technology until most others have. The survey also found that only 23% of women knew how to purchase cryptocurrency if they wanted to do so, and nearly 40% of women find cryptocurrency to be confusing.
Flori Marquez, SVP of Operations and Founder of BlockFi said, “I have witnessed firsthand a hesitation around women discussing their financial health. I’m making it my personal mission to change the figures we’re sharing today.”
Ms. Marquez added, “In order for more women to be empowered with knowledge on what crypto is and how it works, BlockFi is working diligently to provide crypto-curious women with an in-depth look on the inner workings of cryptocurrencies - from blockchain technology, the history and purpose of altcoins, to the benefits of alternative investing.”
BlockFi’s survey revealed that cryptocurrency curiosity amongst women outweighed the percentage of women who feel that it is too risky to invest in. 46% of women respondents indicated they are interested to learn more about cryptocurrency investing and 23% of respondents disagreed that it’s “too late” to profit in cryptocurrency investing.
The survey, the first in a quarterly series evaluating womens’ investment patterns, was conducted by a third-party survey panel between August 6th to August 12th, 2021. 1,023 female Americans between the ages of 18 and 65 were surveyed.
BlockFi is a new breed of financial services company. Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is building a bridge between cryptocurrencies and traditional financial and wealth management products to advance the overall digital asset ecosystem for individual and institutional investors.
Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. The information provided in this announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person’s nationality, residence or otherwise.
Neither BlockFi nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Digital currency is not legal tender, is not backed by the government, and crypto interest accounts are not subject to FDIC or SIPC protections. Learn more at BlockFi.com.
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