A recent study appointed by crypto-finance firm, Circle, has revealed that there exists a gender gap within the crypto sphere, noting that the majority of investors are men. The study consisted of 3,000 participants, whom are randomly chosen from different generations. In conclusion, men, especially Millennials are twice as likely to get involved with crypto than women in the future.
In finding a solution that would lure in diverse investors, Circle realized that the first step should be to educate said target markets. As clearly explained by Circle’s Head of Product, Divya Agarwalla, the problem is that “a lot of the apps that exist on the market are geared towards folks that understand the market already,” adding that said folks are typically men.
Since Circle’s proposal, the crypto firm has implemented a plan that seems fit in luring in more investors. In particular, the firm has added a new feature into its investing app, Circle Invest, which breaks down the cryptocurrency world in simple to understand terms.
The study’s findings are not of surprise, as they also coincide with that of Coin.dance, which has since found that 95 percent of the bitcoin “community engagement” consists of men, mentions Tech Crunch.
The idea is an interesting one, as it reassures consumers of their position and what they are about to get themselves into prior to investing large amounts. However, getting consumers to download the app should have been addressed as well. If interest within the crypto market doesn’t exist, then seeing such educational information will be highly unlikely.
It is also important to consider that the aforementioned problem might not exist given the popularity of Circle for its “consumer-facing payments app”, not to mention big interest coming from firms like IDG Capital, Accel, Digital Currency Group, Pantera, Goldman Sachs, Breyer Capital and many others.
What are your thoughts on the gender disparity within the crypto sphere? Is this problem associated with one’s comfort levels with risk, that is, are men more likely to be risk-takers than women? Let us know in the comments below.