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Why Women Should Invest in Cryptocurrency

It all started like science-fiction, but for those who made the first move towards cryptocurrency investments, fortunes are being amassed.

According to estimates, only 10 to 15% of those now investing in Bitcoin are women. Is a generation of women missing out on this once-in-a-lifetime wealth-building opportunity owing to the prevalence of mansplaining around cryptocurrency?

Let’s explain it in simple terms.

 

What is Cryptocurrency?

Cryptocurrency, or crypto, is a virtual or digital currency that can be used over the internet. Unlike regular money, cryptocurrency does not need banks or the government to maintain it. All transactions are decentralized on a digital public ledger known as the blockchain. You can have a crypto wallet from different vendors like Bitpay, Coinbase, and Paxful. Moreover, some vendors offer debit cards that you can use to purchase everyday goods from various retailers like Bed Bath & Beyond, Wholefoods, Amazon, Starbucks, and AT&T.

 

Bitcoin is the most common cryptocurrency. A crypto debit card is the simplest way to buy anything using bitcoin. The cryptocurrency is preloaded on these cards. The retailer receives fiat money in exchange for your crypto. Crypto debit cards work with Mastercard and Visa to ensure transactions go smoothly. So you see, you can easily transact with cryptocurrency in 2022.

Can you change cryptocurrency into cash?

This is probably the most burning question as not every retailer is accepting crypto as yet. The short answer is YES. Most brokers are able to send cash to your bank account when you request a withdrawal. So you can invest in crypto, make a profit, withdraw, then buy your usual groceries from the Aldi weekly ad. The good thing is you can do it all online – the currency conversion and the shopping! We like Aldi because you can also ask for the groceries to be delivered straight to your door. Great convenience!

Now let’s discuss why women should invest in cryptocurrency.

 

What is deterring women from investing in cryptocurrency?

In an American research study, only 19% of women aged 18-29 have invested in cryptocurrency. What is even worse is that this number decreases as women get older.

Cryptocurrency is predominantly a male-dominated space. Women are investing in crypto, but there are many reasons why some may be put off:

 

● They don’t have time
● Most think it’s a scam
● Many don’t know anything about it.

 

All these reasons are valid as it is challenging to juggle a job, family, caring responsibilities, and looking after yourself. When you don’t know where to begin, it’s simple to dismiss crypto due to the abundance of incorrect and confusing data available.

Learning about crypto does take time and effort, as does learning any new skill, but it has many benefits.

Now let’s dive into the 3 reasons why women should invest in cryptocurrency:

 

Increase your income

Yes, this is the first reason and probably the most obvious, but money is what makes the crypto world go round.

 

Investing in crypto is an excellent way to diversify your income as a side hustle. Depending on how much you invest, you can use the gains to supplement your income so it can cover your household shopping, internet, or simply get yourself something nice.

You can begin with a small investment by choosing to buy Ethereum, a stable coin, or explore alternative options like crypto mining and staking.

You control your cryptocurrency.

Do you remember the Great Recession financial crash between 2007 and 2009? 343 out of 850 banks in the US were shut down. People could not access their money. This is the most significant advantage of crypto.

 

As cryptocurrency is decentralized, it is not controlled by any bank or government. Therefore if there is a bank failure or hyperinflation due to war or disaster, your cryptocurrency would be safe.

 

So if you are worried about global economic crises and how they could affect your purse, then crypto is a good option.

Boosts confidence

It is a good feeling to know about cryptocurrency and that you can even explain what crypto is to your friends without googling it.

 

Learning something new like crypto can help to give you confidence in your abilities. Knowing you’ve discovered a new lifelong ability that can sustain your way of life without requiring you to leave the house can be empowering.

 

Summary

So why should women invest in cryptocurrency? First of all, it can increase your income, and you will have complete control over your money. Importantly, learning about crypto, as it is a new skill, can help to boost your confidence. However, please take your time to learn about and research crypto. As with all types of investing, there is always a risk; you could lose it all. So only put in what you are comfortable with potentially losing.