Yesterday, Lynn Gummow, Allison Fromm, Dirk Hohndel and I talked at the panel discussion "Women in Blockchain" at the meetup organized by Cardano Foundation and UZH Blockchain Center. One ⁉️question⁉️ from the audience we were asked was whether or not there are differences in terms of the adoption of cryptocurrencies between men and women. While I was not aware about any studies yesterday, today, I did a bit of Google-Scholaring (if you may say like this) and this is what I found:
Indeed, there are differences between genders (not surprising, right?)
⭐️ Men are, in general, more aware of cryptocurrencies
⭐️ Men have more positive attitudes towards cryptocurrencies
⭐️ Men are more likely to engage in cryptocurrency trading, trade more frequently, and more speculative, respectively
⭐️ Specifically, men are more than three times as likely to use cryptocurrencies compared to women
⭐️ Men consider themselves more knowledgable about the ways of acquiring the cryptocurrencies
➡️ As a result, men realize lower returns 🤔
So, in case the person who asked the question, comes across this post, here is the answer ⬆️
If you're interested about the implications: some of the research papers suggest increasing females' digital skills, digital literacy, and in general putting focus on financial inclusion.
1. Vejačka, Martin, and Dana Paľová. "Attitude of Slovak Citizens Towards Cryptocurrencies: The Gender Differences." SSRG International Journal of Economics and Management Studies 6.12 (2019): 141-150.
2. Hasso, Tim, Matthias Pelster, and Bastian Breitmayer. "Who trades cryptocurrencies, how do they trade it, and how do they perform? Evidence from brokerage accounts." Journal of Behavioral and Experimental Finance 23 (2019): 64-74.
3. Sudzina, Frantisek, Marek Dobes, and Antonin Pavlicek. "Towards the psychological profile of cryptocurrency early adopters: Overconfidence and self-control as predictors of cryptocurrency use." Current Psychology (2021): 1-5.
Photo: Cardano Foundation