Fixing the financial literacy gap will attract more women to Bitcoin

The blockchain and cryptocurrency industry is dominated by men – fact. There are many reasons as to why this could be the case – namely a pipeline problem or the rhetoric that men are typically (and allegedly!) more interested in technology – but a recent study has posed an interesting question. What if the cryptocurrency industry’s lack of diversity was down to women being less financially literate than men? Perhaps there is more to cryptocurrency’s diversity problem than women simply not being interested in the technology. The findings The study documented a significant gender gap in Bitcoin BTC literacy in the US, suggesting that women’s knowledge about the cryptocurrency is lower than that of men.   Socio-demographics and personality traits, the study says, only explain part of the gap. Actual and perceived financial literacy, however, accounts for around 40 percent of the gender gap in Bitcoin literacy. Overall, the report notes that closing gender gaps in financial literacy is important, but protecting financial wellbeing in increasingly digital financial systems is even more complicated. Unequal access to the financial system On another note, a study released by cryptocurrency exchange Coinbase today revealed some interesting insights. The company surveyed more than 6,000 adults in the UK and US. Some 82 percent of women surveyed across all age ranges and education levels in the US and the UK — compared to 65 percent of men — think financial independence for women is very important. But nearly one-third of college-educated females surveyed said they didn’t think they had equal access to the financial system in their own country. Coinbase’s survey found that 39 percent of millennial women would be interested in cryptocurrency if they knew it could make finance more accessible. Another report showed that 77 percent of affluent millennials in the US believe the
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