As more and more people embrace the digital currency revolution that is predicted to be the mainstay of transactions worldwide, it is quite natural for users to be fond of particular cryptos as their favorite.
When the euphoria surrounding the creation of cryptocurrencies is considered, the emergence of digital currencies could be the most widely talked about invention in the digital financial sector.
That said, a crypto platform named Bakkt carried out a research study on women’s involvement in the industry, and the results showed that the pairs of BTC, DOGE, and ETH remain the most sought-after coins in the United States.
Reports of the Study
The theme of the study, “Women in Crypto,” surveyed a total of 1,012 citizens in the U.S. last month. The analysis of the study shows that 504 of the respondents revealed that they are owners of cryptocurrencies. 84% of the respondents were males. Women who have a stake in digital currencies state their interests in the industry and how ready they are to continue investing in cryptos.
The data on coin purchasing among the respondents shows men have a higher engagement rate with cryptocurrency than women. Overall, both women and men are holders of the three popular tokens: DOGE, ETH, and BTC, but men are more inclined to own a wide range of coins. The result may indicate risk aversion on the part of women.
Men Versus Women In Crypto Investments
Women gave the main reasons they were unable to invest in cryptocurrency like their male counterparts: the lack of knowledge about blockchain technology and services, the absence of understanding of the utility of digital currencies, and the lack of extra funds to invest in the market.
Further analysis revealed that the key barrier to women’s adoption of cryptocurrency is not understanding the dynamics of crypto. More than 70% of non-crypto holders among women rate their knowledge of crypto as very low, compared to just 13% of crypto owners who are men and 22% of crypto owners who are women.
The exciting part of the survey is that users were rewarded with Bitcoin tokens as part of their loyalty to the most significant cryptocurrency network in the world.
According to Nancy Gordon, director of the loyalty program at Bakkt, the Bitcoin token was given as a gift to respondents to appreciate their loyalty. Loyalty programs often play an essential part in the popularity of digital currency and allow others to join the crypto industry, no matter their income level or gender.
As recently as last year, the Pew Research Center also conducted a survey showing that the number of American adults who have a clue about what cryptocurrency is all about is 86%, and about 16% of U.S. adults invest in it.
Industry experts predict that in the future, eight in ten adults will likely have a crypto wallet, know more about digital coins and invest in them as the industry is still in its early stages.