Women in crypto are making themselves known. Women’s workforce participation in finance is growing faster than ever. Yet, the industry remains one of the worst offenders regarding female representation. Crypto can change this and offer an equal playing field for everyone interested in the financial world.
Across finance verticals, just 11.8% of women worldwide manage money professionally. It’s a vicious cycle. Systemic obstacles mean there are few female role models in finance leadership positions. Women are more likely than men to balance work with caregiving responsibilities. They frequently report feeling alienated by an absence of work-life balance. They feel a lack of manager support in many male-dominated workplaces.
Some efforts to balance the scales have backfired. Government initiatives have attempted to funnel more women into STEM roles. However, a Georgetown University study found these efforts to be counterproductive. Researchers suggest that these measures have led women to believe men hold a fictitious “natural ability advantage” regarding finance roles.
Crypto – the new arena
Crypto is a relatively new dimension of the finance industry. But it’s not immune to historical gender disparities in the sphere. Men seem to dominate the crypto industry and the culture that surrounds it. Women may find it intimidating to try to break through. Networking events are often designed for insiders rather than offering tools for aspiring professionals to enter and grow in the field. It can be tricky to find inclusive spaces and resources to learn what crypto means for the future of finance and how to get involved. But the scales are already starting to tip.
The explosive growth of the crypto world means new opportunities for women to claim leadership roles. They can shape the future of the asset class. According to Business Insider, female participation in the industry increased by 43% this year. Cryptocurrency exchange platform Gemini reports that women make up 53% of the “crypto curious". My own experience as a woman in crypto rings true here. When I first started mining crypto five years ago, it felt like I was elbowing my way into a boys’ club. But today, as my own company grows, I’m coming into contact with more and more women every day - at all levels of the industry. Our network is growing, which means many new opportunities for us to form alliances and lift each other.
Level playing field
Unlike deeply entrenched traditional finance verticals, crypto presents an opening for women to get in on the ground floor. They can play key roles in the development of the field. As crypto enters the mainstream, scores of new jobs are emerging. And you don’t have to be a developer or a blockchain specialist to snag one. In the past three years, crypto has created thousands of jobs. These range from intelligence and software engineering to accounting and sales. Countless other jobs are sure to manifest in the next five years, especially considering that the crypto market is now worth more than $3 trillion and growing.
So, where should women start to overcome the intimidation factor and enter this dynamic field? First things first, let’s acknowledge one important fact. Crypto needs women as much as women need crypto. Women hold more wealth today than ever in history. Decentralized Finance (DeFi) can’t become a global phenomenon without 50% of the world’s population on board. As diversity, equity and inclusion continue to shape the zeitgeist, women across demographics gain bargaining power. More and more companies have recognized the deep value of building a workforce representing the broader population. Executives are actively seeking to diversify their leadership teams. This means women are becoming a coveted group in finance - not just in support roles but at the top.
Female entrepreneurs
As opportunities expand, many female entrepreneurs have already noted that crypto is an ideal field for working mothers. It operates on a 24-hour market. Women who work in crypto are more likely to be empowered to create their own schedule, as compared to other finance verticals. Plus, women around the globe can use crypto to collect income, make payments, and transfer funds. This is all without engaging with exclusive or alienating financial institutions. All told, the crypto field is more than ready for more women to jump in. If you’ve never dabbled in the blockchain, though, you may still be just as intimidated about where to start.
The truth is, there’s no big secret to entering the crypto world. The best thing you can do is just to start where you can. Read up on the wide variety of tokens that are available. Research the numerous centralized and decentralized wallets you can use to buy them. Start with a manageable investment into an asset you deeply believe in. As you watch your first investment grow, shape up your crypto vocabulary on YouTube. Follow savvy investors and crypto accounts on Twitter. Read everything you can on the assets you’re invested in (it can’t hurt to keep your eye on a few others, too). Before you know it, you’ll be ready to contribute your insights and shape the future of this rapidly growing industry.
