A study conducted by KuCoin, a cryptocurrency exchange, sheds light on gender dynamics within the crypto market, providing insights into the investment habits and attitudes of individuals who engage with digital assets.
Women exhibit a propensity for long-term investment, often adopting a “HODL” strategy. Despite the market’s volatility, the report reveals that 52% of female crypto investors opt for HODLing, a figure surpassing the 38% observed among male investors, as outlined in the Women’s Day Survey Report 2023 by KuCoin. Additionally, 44% of female investors view crypto as a viable avenue for passive income and wealth accumulation, compared to 36% of their male counterparts, indicating a tendency among women to prioritize long-term investment objectives.
The survey offers valuable insights into the participation of women in the crypto sector, with the aim of encouraging greater female involvement. However, it also highlights a trend of cautiousness and lower confidence levels among women in crypto investment. While 35% of female investors express high confidence in crypto investments, a lower proportion than the 47% of confident male investors, nearly half of the women describe themselves as “somewhat confident,” suggesting a more risk-averse approach.
Concerns about the inherent risks and volatility of the crypto market are pronounced among female investors, with 44% expressing apprehension compared to 28% of males. This aligns with their preference for long-term value, indicating a resistance to being swayed by short-term market fluctuations.
Both genders identify the need to continually update their knowledge and skills as a primary challenge in crypto investment, underscoring the necessity for enhanced educational resources.
Furthermore, the survey highlights emerging trends in crypto investment preferences, notably a growing interest among women in decentralized finance (DeFi) and artificial intelligence (AI) projects. Forty-one percent express interest in DeFi, while 38% show interest in AI-related tokens. However, 14% of women indicate uncertainty about which tokens to invest in, reflecting a desire for thorough research before committing funds.
Despite being self-motivated in their investment decisions, women engage less in public and private discussions about crypto. Encouragingly, 58% of women rely on personal research for investment decisions, and 49% are self-motivated to embark on their crypto journey. However, only 24% are influenced by social media trends, and 19% by conversations with friends and family, indicating a need for more inclusive dialogue within these communities.
To foster greater female participation, the survey suggests initiatives such as sharing investment tips and stories of women in crypto. Additionally, recruiting more women in the industry and amplifying narratives of female involvement are seen as effective strategies for creating a more inclusive crypto ecosystem.
The survey, conducted from February 24 to March 3, 2023, involved 577 crypto investors, including 360 males and 217 females, polled through KuCoin’s communities and social media platforms.