Nearly 1 in 3 women are planning to purchase crypto in 2022, and 24% already have it.
The numbers came out of survey results announced by BlockFi, a Jersey City cryptocurrency marketplace and financial services company, on March 2.
They’re part of BlockFi’s third edition of the Real Talks survey, a quarterly series focused on understanding changing consumer sentiment toward crypto, investing and other related topics. Real Talk: Women x Crypto 2.0 asked female Americans about their current motivations, behaviors and dispositions around crypto investing, financial wellness, and career aspirations.
Those planning on purchasing crypto this year largely (60%) plan to buy it within the next three months, and 1 in 5 women believe crypto can help them reach their financial goals, including funding a vacation, retiring on time, or purchasing a home.
While adoption among women is lower than in the market as a whole (70% of women have never bought or sold crypto, compared to 55% of the market), 45% of women surveyed report knowing how to purchase crypto, which is nearly two times the amount of women (23%) who reported knowing how to buy crypto in BlockFi’s initial Real Talk: Women x Crypto survey released in September 2021.
Women who are buying crypto are mostly buying Bitcoin (71%), Dogecoin (42%), and Ethereum (18%), although 75% of crypto-owning women have only traded – meaning they have yet to take advantage of the full ecosystem via earning interest and rewards, or engaging in mining or staking, which are other ways to earn cryptocurrency.
Conversely, 80% still find crypto confusing, and 72% feel it’s too risky to invest in.
The survey also addressed women’s feelings about working in the cryptocurrency sector, given the 400% rise in crypto-relates job postings in the past year, according to BlockFi. One in 10 women believe crypto is “the most” promising career sector, which is double the amount of respondents that dubbed fintech “the most” promising. One in 10 plan to apply to a role in a crypto or blockchain focused company this year, and 15% are interested in a career in crypto at some point.
“There’s no better way to learn about something new than by doing – especially when diving into the seemingly complex world of crypto,” Flori Marquez, founder and senior vice president of operations of BlockFi. “It’s very exciting to know that women are becoming more aware of the benefits of owning crypto and expressing interest in working in the crypto sector. Now it’s our responsibility to continue to close the education gap and provide as many on-ramps as possible, so women can easily gain exposure to crypto markets and get comfortable doing more with their crypto.”
“Looking toward the future, my hope is that crypto will become an essential part of everyone’s financial wellness plan,” Marquez said. “Even more, I look forward to seeing more women consider crypto as the next stop on their career journey.”
The survey, the second in a series evaluating womens’ investment patterns, was conducted by a third-party survey panel on Jan. 28 and surveyed 1,031 female identifying Americans between the ages of 18 and 65.