BlockFi, a crypto-financial services company, this week released its third edition of the Real Talk survey, a quarterly series focused on understanding changing consumer sentiment towards 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. It follows up on the first Real Talk: Women x Crypto survey released in September 2021.
While 2022 has already seen its fair share of market volatility, women’s faith in the long-term investment performance of crypto remains high. BlockFi’s survey found 24 per cent of women report owning crypto. Of those, 70 per cent are HODLers, having bought but never sold (compared to 55 per cent for the market as a whole).
Almost 45 per cent of women reported knowing how to buy crypto. This is nearly twice the amount of women (23 per cent) who reported knowing how to purchase crypto six months prior.
What are women buying the most? Bitcoin (71 per cent), Dogecoin (42 per cent), and Ethereum (18 per. cent).
Among crypto holders 75 per cent have only traded–meaning they have not attempted to earn interest and rewards or engage in mining or staking. Only one in 10 reported use of a crypto interest account and one in 20 have purchased NFTs or participated in crypto mining.
Most (92 per cent) of women surveyed have heard of crypto. Conversely, 80 per cent find it confusing, and 72 per cent feel it’s too risky to invest in. Nearly one in three women surveyed are planning on purchasing crypto in 2022, with 60 per cent of those respondents saying they plan to buy it within the next three months.
One in five believe crypto can help them reach their financial goals, both big and small – most commonly funding a vacation, retiring on time, or purchasing a home.
Bitcoin (14 per cent) is viewed comparably to gold or silver (16 per cent) and individual stocks (13 per cent) as the best long-term investment, though real estate is by far viewed as the best (41 per cent). Only four per cent believe NFTs are the best long-term investment.
“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 SVP 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 towards the future, my hope is that crypto will become an essential part of everyone’s financial wellness plan. Even more, I look forward to seeing more women consider crypto as the next stop on their career journey.”