Female Investors and Crypto: 80% are familiar, Ripple is more popular than Bitcoin
New data suggests that the crypto markets may not be as male-dominated as once perceived. Trading platform Etoro and patenting discussion forum Mumsnet conducted a survey with over 1,000 female participants asking about their approach towards investing.
The results show that 47% of respondents were moderate to significantly informed about investing, and 55% wanted to take control of their own investing decisions.
The primary motivation was to generate long-term wealth, with 71% stating that they wanted to save for their children’s future.
Perhaps most surprising was the extent to which females were informed about cryptocurrencies. About 80% were familiar with the term cryptocurrency, and 42% were either already investing in crypto or would consider it in the future.
Etoro’s investing demographic show that 90% of registered women on the platform are invested in crypto assets. It also reveals that the top crypto assets chosen by women were: Ripple (56%), Bitcoin (15%), Ethereum (10%), Litecoin (6%), Stellar (3%).
Are women more likely to be HODLers?
One thing the data suggests is that woman, who tend to put more effort into planning for their long-term future as they have childcare to consider, may be more likely to hold on to their crypto investments, as opposed to day trade for short-term gains. It would be no surprise that day trading is an activity primarily occupied by men, as it most closely resembles gambling, which is also an activity most occupied by high-risk takers (i.e. men).
It would be fascinating to conduct a study 5-10 years from now to determine what percentage of female investors held on to their crypto assets for five years or more, versus what percentage of male investors frequently traded their assets to capture short-term gains. The same questions could be posed for different races, ethnicities or socioeconomic classes. The answers to these questions may give us some great insight into the different types of risk-taking behavior amongst key demographic groups of retail investors.
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