The Male-Dominated World of Crypto
When you look at the makeup of cryptocurrency and blockchain companies and their founders, it wouldn’t surprise you to know that only 10% of women have used cryptocurrency, just 15% of Bitcoin investors are women, and a mere 16% of NFT artists are women. Men in this industry far outnumber women, why is that? The same can be said for the digital finance industry as a whole, a world that has become quite popular.
So, what exactly is crypto?
As defined by Investopedia, “cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.” Cryptocurrency isn’t new, but recently, there has been a huge push towards creating a digital world, one where people can fully interact - a metaverse. This digital world includes buying and selling, which of course creates a demand for digital currency. Decentralized banking is confusing to some, but enticing to others, as it creates accessibility to online currencies from anywhere in the world. Plus, the value of cryptocurrency is not regulated by any one central authority.
“You can use crypto to buy regular goods and services, although most people invest in cryptocurrencies as they would in other assets, like stocks or precious metals. While cryptocurrency is a novel and exciting asset class, purchasing it can be risky as you must take on a fair amount of research to fully understand how each system works.”- Forbes, “What Is Cryptocurrency?”
When did the Gender Gap in Crypto Begin?
Major players in today’s cryptocurrency and blockchain companies were born from other male-dominated industries, like Finance and Tech. This gap can be traced back decades, to the days when women weren’t legally allowed to manage their own finances without male supervision. While men were gaining financial literacy, women were left out of the conversation.It is no surprise that those who were welcomed into the finance and technology industries would be at the forefront of these emerging digital trends. Advancements within the digital industry, such as the rise in popularity of cryptocurrency, the metaverse, and NFTS have seen the same gender involvement issues as in traditional finance. So why, even in 2022, are women feeling excluded and being left behind in the conversation?
Crypto is more Racially Diverse than Gender Inclusive
Interestingly, even though FinTech has been dominated by males, it has managed to stay racially diverse - which could be in part due to its global nature. People of all races are about equally likely to own cryptocurrency: “11% of whites, 11% of Blacks, 10% of Hispanics, 14% of Asians, and 13% of people of another race all have crypto investments. Even though cryptocurrency has broken down barriers in investing by race, it hasn’t managed to do the same by gender.”
How Can We Correct the Gender Gap?
With over twice the amount of men as women investing in crypto, we’ve got a huge problem: gender inequality within the crypto space. But why are women opting out? After years of being overlooked in the finance world, it could be that women feel hesitant or less motivated to participate; however, with women making up half the world’s population, their involvement is vital. Including women in the conversation is so important. Influential players in the crypto and blockchain space can begin by hosting events that bring both men and women into the fold, or by hosting panels that give female leaders in this space a platform. We recently attended the Skimm’s panel on The Crypto Gender Gap. Their advice? Venture Investor Mags Kala said, “Start. Just get started. Join communities that resonate with you. Be involved on a social level, not just financially.”
You Haven’t Missed The Boat
Not only has the rise in crypto created communities of like-minded people, but it has also created an entirely new market of jobs for those interested in the finance, crypto, and blockchain industries. Between 2020 and 2021, career opportunities in crypto rose by almost 400 percent. The time to get your foot in the door is now. It’s easy to feel like the crypto boat has left the dock, but it is never too late to start learning something new!
“Because of how new the crypto industry is, and how complex the technology has become, very few people feel they have a strong understanding of this asset. So, the time is now for women to invest in themselves by learning about crypto.” - Worth.com, “How We Can Equalize The Crypto Gender Gap”
Top Jobs in Cryptocurrency and Blockchain Industries
At Career Group Companies, we are experienced in staffing within the tech, finance, crypto, and blockchain industries. No matter your field or discipline, we have recruiting teams able to advise on relevant opportunities and offer hiring managers strategic guidance on how to grow and scale their startup's team. We’re currently recruiting for a number of positions within the Crypto and Blockchain Industries:
- Executive Assistants
- Project Managers
- Technical Recruiters
- Product Designers
- Community Managers
- Data Analysts
- and more!
Trying to make the pivot from your current industry to tech? If you’re hoping to work in tech, we have tips for you. It’s a very exciting time for women to join the tech and crypto game. Browse our current openings for more!