For long, Bitcoin investors and other digital coins have majorly been men. However, over the years, women have started picking up and going by the statistics, the number of women in this industry is poised to go up considerably in the future.
Africa is taking time to catch up with the others in the crypto world; investors there are still skeptical about the new wave and are still treating it with caution. However, unlike other African states, South Africa has come a long way, and more people there have accepted and adopted digital currencies compared to other African countries.
For a long time now, men majorly undertook trading activities. However, now more than ever, women are showing interest in cryptocurrencies. Altcoin Trader, one of South Africa’s most prominent exchanges, carried out a little research and the results tabled point to an increase in uptake of cryptocurrencies by women, therefore, the stereotype that men dominate the industry is slowly becoming false. From the data published by the exchange, women are coming up quicker than expected, and they now make up to 30% of all traders, an unprecedented feat to state the least.
Apart from women, millennials are also quickly joining the bandwagon. Understandably, millennials want to be part of something big, they want to be associated with something trendy, and crypto trading gives them a platform of identity; this is according to a report by the exchange, Altcoin trader.
Apart from the identity, the harsh economic times are pushing people to cheaper and convenient ways of banking, and crypto trading offers them this and more as it is a lot cheaper and secure.
What does the Future Hold?
However, men still dominate in the crypto market; men are still running significant exchanges in the world. Men make the most rules in the industry, and according to statics, up to 60 % of all trades made come from men. The report still indicates that women still entrust men to handle their portfolios; therefore, more women are trading behind the curtain. The research, however, paints a 50/50 picture in the years to come in matters trading, as more women will ply their trade in the crypto industry.
According to the laws in place, crypto exchanges are obliged to collect the know-your-customer information. Further; required also are personal details when a client is making transactions; thus, information regarding gender is collected this way. Anonymity arises only when the customer deposits their money in individual wallets.