October 5, 2022

Bakkt’s New Study Suggests Women Will Take Over The Crypto Space

3 min read

It’s a ladies’s world! Bakkt commissioned a study that reveals women are investing in cryptocurrencies and closing the gender space. The paper, entitled “Women & & Crypto,”shows”women are now surpassing males as newbie buyers.” Not a surprise there, if you’re focusing. It’s helpful to have concrete numbers, though.

A self-described “global regulated environment for digital properties,” Bakkt specified its research study goals as: “The gender gap in crypto has actually been well recorded, but little information exists for how the industry can move forward in a more inclusive way.” The paper measures “awareness and attitudes towards cryptocurrency amongst females, who both own and do not own crypto, and, how it varies from males who own.”

The useful details of Bakkt’s study are as follows:

“The study surveyed 1,012 consumers including– 508 females who do not own cryptocurrency but have standard level of awareness, 254 ladies who own crypto and 250 males who own crypto throughout the U.S. and was fielded in February 2022.”

Another crucial attribute is that the study was “heavy-up in 25 to 44 age bracket recruitment for all 3 sections.”

Let’s go to the numbers and see what the company learnt.

What Did Bakkt’s Data Show?

Although this is a US-centric research study and we may not be able to extrapolate the results to the entire world, the numbers are intriguing. Bakkt discovered that:

  • Let’s hope this propensity continues for several years to come. “Men were early crypto adopters, but women are now outpacing guys as newbie buyers. 38% of females made their first crypto purchase in previous 6 months compared to 30% of men.”
  • These reasons will sound familiar …”The leading barriers recognized by women who don’t presently own crypto include not understanding how to get going (52%), not comprehending crypto utility (52%) and doing not have additional funds to invest (49%).”
  • Thinking about the state of the world, the surprise is that the portions aren’t even higher. The “majority of guys (69%) and women (54%) crypto owners say they prepare to increase their holdings in the next 6 months.”
  • There’s no rush. Everybody at their own pace. The “bulk of women (61%) own less than $500 in crypto.”

DOGEUSD price chart for 03/04/2022 - TradingView

 DOGE cost chart for 03/04/2022 on Poloniex|Source: DOGE/USD on TradingView.com Crypto Owners Vs. No-coiners There's no replacement for direct contact. In this area of Bakkt's research study, the distinction between male and female takes a rear seats to the fact that no-coiners feel lost in the crypto world.

  • Crypto owners seem like they learn about the subject more than those who have not had hands-on experience with crypto properties. 70% of no-coiners rate "their crypto understanding as low or extremely low, which compares to only 13% of male crypto owners and 22% of women crypto owners who rate their understanding as low or very low."
  • Females no-coiners "choose "complicated", "dangerous", and "scary" as leading words to explain how they perceive crypto." On the other hand, crypto owners of both sexes "share a few of the very same top words including: "chance," "development", "bold", and "innovative"
  • In this female-only product, "82% of women who have actually purchased crypto say they are likely to purchase in the future, compared to just a third of" women no-coiners.

What are these individuals purchasing, though? According to Bakkt, "Both males and females crypto owners in the study reported their leading coin financial investments as bitcoin and ether." Here's a chart that goes even deeper and points out the Internet's preferred memecoin, DOGE:

Bakkt, Coin Ownership chart

 "Coin Ownership"chart|Source:"Women & Crypto"Bakkt Isn't The Only One. Other Recent Studies:

Were these documents produced to commemorate Women's History Month and International Women's Day? Most likely so. Which's great. Recently, BlockFi published the results of a comparable research study. Always all set, Bitcoinist summarized them as follows.

"The most current study from BlockFi reveals that women are more interested in cryptocurrencies than ever, with one-third preparation on purchasing digital possessions this year. Furthermore, 60% of these women say they will be doing so within the next couple of months.

The present study depicts double women's interest compared to the specific nature of the study conducted in September 2021, leading to 29% of women showing interest in buying crypto next year."

To close this let's quote Nancy Gordon, Bakkt's Chief Product Officer:

"Despite current crypto volatility, there's continued momentum for ladies's crypto adoption and it's assuring to see that the barriers to entry can be overcome through education."

Cheers to that.

Featured Image by Brooke Cagle on Unsplash|Charts by TradingView and "Women & & Crypto"