A survey by Independent Reserve reveals that women are more likely to earn money or break even on…
A survey by Independent Reserve reveals that women are more likely to earn money or break even on their cryptocurrency trades than men. According to the report, 76% of women said they made money or broke even on their investments, while 72% of men made profits or avoided losses.
The report was initiated in February 2023 by the Independent Reserve Cryptocurrency Index (IRCI), which polled 1500 everyday Singapore residents on their attitudes toward cryptocurrency.
Since its introduction in 2021, men have earned more via cryptocurrency than their female counterparts. According to this recent survey, this is the first time females have surpassed their male counterparts.
The survey reports that more women have been discovered to be investing in cryptocurrencies this year, which is significantly higher than the percentage of men investing in crypto. According to the study, 37% of the women claimed they had crypto investments, a seven percentage point increase from the previous year. Only 48% of males said they had crypto investments, a 1% drop from the percentage previously recorded in 2022.
The responses from several women who took the survey indicate a palpable bullish perception of cryptocurrencies. Over 20% of them claimed they had invested in this asset class. 48% of respondents plan to improve their portfolio investments across the next 12 months, with 43% stating they intend to diversify into other tokens, DEFI projects, or NFT initiatives. In a period where the market is frail, these women are riling with confidence, aiming to increase their investments in cryptocurrency.
2022 was one of the worst years in the history of the crypto sector, during which its entire market value plummeted by around 65%. However, the market has since surged in 2023, adding over $255 billion to its value and bringing market capitalization back above $1 trillion for the first time since early November. Bitcoin climbed from $16,500 on January 1 to briefly above $24,000 later that month, TechNext reported.
According to CoinMarketCap, Bitcoin has seen a 6.9% increase in the last 24 hours, as it currently sells for $28,350.53. If the market surges beyond this to its previously known profitable value, women are likely to be the biggest earners, based on the Independent Reserve Cryptocurrency Index survey.
Why are women outperforming men in cryptocurrency investments?
As per the Women’s Day Survey Report 2023 by KuCoin, 52% of women tend to hold their investments for the long term. Conversely, only 38% of men tend to hold for the long term. This might be why women seem to perform better than their male counterparts in cryptocurrency trades. Staying longer on their investments might have given women an edge over men in the crypto ecosystem.
In KuCoin’s report, 44% of women were discovered to think that crypto is a great source of passive income. Meanwhile, the percentage of men with a similar opinion was 36%.
Considering how women tend to stay patient with their investments, coupled with their perception of crypto as a good source of passive income, there is no doubt why they have performed better than their male counterparts in cryptocurrency trades. The key attribute to earning significantly in cryptocurrency is staying patient, and these reports suggest women seem to have mastered this act in their interaction with the crypto market.
Men might have to learn to be patient with their crypto investments and believe that the market tides will turn and its previous glory will return if they want to outperform their female counterparts in crypto trading.