Cryptocurrency adoption on the rise among women
A recent report revealed that cryptocurrency adoption among female retail investors is on the rise.
Crypto is the second most widely owned asset class among women
The Retail Investor Beat Q4 2022 report surveyed 10,000 retail investors across 13 countries and 3 continents and found that 34% of women now own cryptocurrency, up from 29% in the previous quarter. This makes digital assets the most widely owned asset class for women after cash.
The report was released by eToro, a popular social trading platform. It provides insight into the mindset of retail investors. The report found that among cryptocurrency investors, the most popular reason for doing so is the opportunity to make high returns.
However, many also believe in the power of blockchain tech and think cryptocurrencies are a transformative asset class.
The rise in cryptocurrency adoption among women is significant because it suggests that crypto is succeeding where traditional financial markets have sometimes failed to bring more women to the table.
The report by eToro is just the latest in the research that supports the growing adoption of digital assets among the female population.
A survey released by BlockFi, a popular crypto lender, in October 2022 found that women were still bullish on crypto despite the challenges plaguing the market at the time.
The survey showed that women still see crypto as a good investment vehicle, with 22% of respondents stating that they were still open to buy bitcoin and altcoins in 2023, and one in 10 women having chosen crypto as their first investment.
As the industry continues to evolve and mature, it will be important for companies in the space to continue to make the asset class more accessible and appealing to women, an endeavor that has been taken up by many players in the space.
Crypto adoption on the rise among retail all investors
According to eToro’s report, cryptocurrency adoption among retail investors is rising. The report found that despite unfavorable market conditions, the number of retail investors who own crypto rose from 36% to 39% in the last quarter of 2022.
Back in December 2022, a report by blockchain data provider, IntoTheBlock, also highlighted this trend.
According to the report, the number of daily active addresses on the Bitcoin and Ethereum networks has increased steadily and surpassed the levels seen in previous bull runs, indicating that cryptocurrency adoption is moving forward.
Despite the growing adoption, eToro found that most investors still avoid crypto due to perceived risk and a lack of robust regulation. These deterrents will hopefully subside as the crypto industry matures, allowing this new asset class to become truly mainstream.