Australian women keener to adopt crypto than men

Australian women are turning to crypto at a higher rate than men in the country, according to a recent report by Australian bitcoin and cryptocurrency exchange BTC Markets.

The survey found there has been a 175% increase in women investing in crypto in some form. This is a significant uptick compared the overall increase among men, with only 80% more men buying into crypto during the last fiscal year.

Women tend to have the largest initial deposit averaging $2,381 compared to men’s $2,060. However, women would tend not to pursue as many different portfolio assets. They are generally $400 lower in terms of total crypto holdings, according to the report.

Women also tend to trade less often, around two times daily compared to men’s five trades per day.

Part of this may be because women tend to be more less risk-averse, but it could also be the result of financial wisdom. Warren Buffet, the stock trader with a distaste for crypto, has often said that people need to analyze a good asset and invest long-term.

The report confirms that women tend to be more risk averse as well pointing to a generally better thought-out position when moving into crypto as compared to what men do, which is often impulsive.

There has been a huge upsurge in new crypto users in 2021 but some stable markets, such as the European Union, have remained relatively slow in terms of adoption.

Nevertheless, interest in crypto remains high. One popular outlet of this interest is the use of crypto for hobbies such as online gambling.

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Source

Updated: 04/11/2022 — 10:00