Can Cryptocurrency Help Bridge the Gender Wealth Gap?
The gender wealth gap refers to the difference in the net worth and total assets between women and men.
Income is a critical factor when determining the gender wealth gap. When comparing their median salaries, a 2021 report represents that women make 82 cents for every dollar earned by men. Other factors affecting the gender wealth gap include investments, savings, business ownership, student loan debt, credit card debt, and real estate.
Gender wealth inequality has become more common than income inequality, especially after the pandemic. Income inequality is the uneven distribution of income throughout a population. As gender roles are being reinforced more than ever, women are losing their jobs more than men.
Common reasons behind the gender wealth gap include employment segregation, women having less financial knowledge than men, caregiving responsibilities for women, and greater numbers of low-income women.
According to reports, women in the United States account for nearly two-thirds of student loan debtors, which makes it difficult for them to build wealth. Cryptocurrency investment offers a good way to bridge the gender wealth gap. Here's how.
Women Investors in Cryptocurrency
Cryptocurrency was typically considered a male-dominated platform. According to research in 2021, only 15% of Bitcoin traders are female. The trend is changing, and cryptocurrency platforms have experienced an overall surge in demand for crypto assets to female investors.
Investing in cryptocurrency can bridge the gender wealth gap and help women achieve their financial goals.
How Cryptocurrency can Help Create Wealth
Though cryptocurrency is a highly volatile asset, it can help investors build wealth. Since the portfolio play has gained power in recent months, it’s catching up to stock trading (something that Americans consider growing wealth). According to a recent survey, almost 13% of Americans purchased and traded cryptocurrencies in 2021.
Studies demonstrate that women perform as equals at generating returns on investments, if not better than their male peers. With more people learning about cryptocurrencies, women must consider these assets as part of their investment because they’re more protective of their disposable income.
You don’t need to buy a whole Bitcoin as you can invest any amount you're comfortable with via fractional shares. You can make a Bitcoin investment starting at $1, as starting small can also help you build your wealth.
Since there are risks involved with investing in cryptocurrencies, women must weigh their risk appetite.
Gender Agnostic USP of Cryptocurrencies
Investing in cryptocurrencies comes with its share of risks and requires awareness about the market and a certain level of knowledge. However, the ease of access in trading allows cryptocurrencies to bypass social and cultural obstacles for women.
Typically, it’s a gender agnostic, level playing field.
Since the processes are based on computer networks, cultural, sociological, and societal issues have taken a back seat. Though women have had less autonomy over their finances, crypto investments allow them to opt out of a financial system they find difficult to work in. They can choose to participate in a trading system existing outside their current workplace.
With Visa, PayPal, Tesla, and other modern-day giants encouraging cryptocurrency transactions, crypto-trading has gained more credibility. As a result, this has opened virtual doors for women to take control of their finances.
In today’s world, one can think actively about rights and inclusion in the technological and financial sectors, which has empowered more women by familiarizing them with crypto. As cryptocurrency promotes more female investors, it offers them more capital than ever before.
At Urban Crypto, women can now learn to buy, sell and exchange crypto to excel in the world of cryptocurrency and bridge the gender wealth gap.
You can read simplified crypto and Bitcoin guides at Urban Crypto to start with Coinbase. Their online platform and the highly-qualified team help you make money online with Bitcoin.
Moreover, you can also go through the crypto news and industry info and beginner's guide to buying cryptocurrency to begin your Bitcoin journey! Visit our website to get all the Bitcoin tax questions answered!
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