Long gone are the days where women play a back-seat role in the workplace, on Wall-Street, or in investments as a whole. Since the birth of Bitcoin in 2009, there has been a strong incentive to change the name of the game. A newfound solution to making finance universally more accessible, not just for the few, but for all. In 2021, we still have a way to go before the crypto-space is considered to have a gender-equal ratio. However, we can at least note that decentralized finance allows for the potential of this growth in significantly better ways than the traditional finance system. Women seek to understand crypto, they’re curious and they’re ready to invest. Read along to discover why more women are turning towards digital assets and how they are carving their paths in this industry.
There are countless challenges alongside leveling the investment playing field and achieving financial freedom in our traditional system. In 2020, the national pay gap in the United States is still roughly 18%, with not a single US state paying females higher than males (on average). Therefore, resulting in increased difficulties for women attempting to build their 401k’s and plan for retirement in a way as effectively as men can. Due to the large disparities in active income, more and more women are looking for ways to invest in forms of passive income…cue cryptocurrencies.
How Crypto Supports Females
The main differentiator between digital assets and the traditional banking system stems from the blockchain. Decentralized finance allows for transactions to occur without passing through a third-party intermediary, granting individuals complete control and freedom over their own assets. Not only is this more efficient, but it is also cheaper and provides a sense of security that is often overshadowed when interacting with third-party sources. Gemini conducted a survey that found “Among those planning to invest in crypto, 40% are women.” Additionally, “ 39% of millennial women say that they would be more interested in crypto if they knew it could make finance more accessible.” These numbers thus prove not only the desire but the intense need for women to feel empowered by their financial options and decisions, instead of discouraged like other, often mistreated minorities do in the traditional sector.
Women in Crypto
Although there is progress to be made, we wanted to highlight some special women who have redefined the cryptocurrency marketplace. First off, we have Elizabeth Stark. This double-ivy league graduate co-founded the company Lightning Labs in 2016. Lightning Labs is a “second layer” protocol that helps make the blockchain run more efficiently. Lightning Labs is just one of her many accolades as she is concurrently a research fellow making decisions informing public policy about crypto. One of Stark’s famous quotes is “Welcome to Bitcoin, you can’t tell people what to do.” Stark is a huge advocate for all things crypto because of the financial freedom crypto empowers, as the removal of intermediaries makes for a more accessible future of finance.
This article wouldn’t be complete without the mention of Katie Haun, a former partner at Andreessen Horowitz. She was introduced to Bitcoin in the currency’s early days, utilizing blockchain’s capabilities to investigate criminal activity. Flashforward a decade and Haun is now considered “The Face of Credible Crypto” as she serves as an independent director on the board for the now billion-dollar company, Coinbase. When giving advice about crypto to the public she says, “Don’t let yourself think ‘Oh, it’s too complex, I don’t want to go dive deep in it.’ You don’t need to dive deep in it, just go learn something about it that you didn’t know.” Haun encourages all individuals to be patient with the crypto space as it is ever-changing and evolving.
Another female cryptocurrency advocate and partner at Andreessen Horowitz is Arianna Simpson. Simpson founded the investment fund Autonomous Partners, which specializes in cryptocurrency and digital asset allocations. When it comes to crypto, she wants to remind women “it doesn’t take a P.H.D to understand it,” it just takes a will to learn.
These women and many more are firing up the female community to feel empowered to redefine wealth and educate themselves towards reaching financial freedom. At Sarson Funds, we believe in transparent and unbiased education for all individuals regardless of gender. To learn more about our investment strategies visit our YouTube Channel, follow us on social media, or visit our website to learn more about our holistic educational approach to crypto and digital asset investing.
By Abigail Almonte