Survey: Number of female cryptocurrency holders in Australia to double in 2021

A new survey shared with Cointelegraph has found that the percentage of Australian women who own crypto assets has doubled.

The 2021 Independent Reserve Cryptocurrency Index (IRCI) survey of 2,000 Australians found that the number of women currently or previously invested in cryptocurrencies rose from 10.3% in 2020 to 20% in 2021. The percentage of female Bitcoin holders also rose from 8.3 percent to 14.8 percent, the survey showed.

Founded in 2013, Independent Reserve is a leading Australian cryptocurrency exchange with over 200,000 users.

Blockchain Australia board vice-chairman Karen Cohen said more women entered the cryptocurrency market this year as the asset class continues to become a mainstream investment. In an interview with Cointelegraph, she stated:

“I think it shows that investing in cryptocurrency is less risky and that it’s just one of many ways you can invest. I think it’s kind of a signal that if a bank thinks it’s OK, then you’re Knowing it’s a safer place to invest.”

Cohen cited the example of the CBA adding a crypto trading option to its app in early November.

Adrian Przelozny, co-founder of Independent Reserve, added: “Over time, cryptocurrency investing becomes more acceptable and mainstream, and perceived risk decreases.”

"I think as this happens, you're going to see more and more women entering the crypto market," he added.

Grayscale’s 2019 research revealed that women tend to be more risk-averse investors, which is often cited as a reason for the gender gap between female and male crypto investors.

ICRI also found that women are more likely to take advice about cryptocurrencies from family and friends. 56.7% of women surveyed said they would enter the crypto market on the advice of family and friends, compared to 42.2% of men surveyed.

"A lot of women get referrals from friends and family, so they feel safer getting involved," Cohen said.

On the other hand, 45.9 percent of men said they would consider entering the crypto market because media coverage piqued their interest, compared to 41.8 percent of women surveyed.

Closing the gender gap

Going forward, Cohen said she expects full gender parity among cryptocurrency investors to take “a while” because it is intertwined with gender stereotypes and the way women grow up understanding risk and investing.

Przelozny agreed, saying it was impossible for him to speculate when the investment gap would close. "I don't know when it will become 50/50. But I think it's definitely a move in the right direction," he said.

Cohen also said that users can expect “the landscape to change drastically again” as the metaverse and blockchain games begin to dominate the crypto market.

“Is gaming more of a boys’ club than cryptocurrency?” she asked, before concluding that “no one really knows.”

In last year’s IRCI report, Cohen urged crypto industry policymakers to involve women in events and panels, saying “we are what we see.”

The IRCI is an annual cross-sectional survey of more than 2,000 Australians conducted by PureProfile. Independent Reserve said its survey sample reflected the gender, age and geographic distribution of the country.

Cointelegraph Chinese is a blockchain news information platform, and the information provided only represents the author's personal opinion, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. Readers are requested to establish correct currency concepts and investment concepts, and earnestly raise risk awareness.