According to a new survey, while there are over 18,000 cryptocurrencies as of 2022, a few remain market favorites. Bakkt, a Bitcoin and crypto marketplace and custodian, performed a survey to determine the amount of engagement of women in the crypto market.
The findings of the poll, which included over 1,000 US customers, revealed some important insights into rising patterns in the crypto sector. The study, titled “Women and Crypto,” discovered that female crypto adoption outpaced male adoption.
While men are early adopters, women are more likely to be first-time buyers. According to the data, 38 percent of women in the study made their first cryptocurrency purchase in the previous six months, compared to 30 percent of men.
In the last year, 71 percent of women were first-time buyers, compared to 60 percent of men. The study also looked into these investors’ coin ownership habits. The top three coins owned by both men and women in the study were Bitcoin, Ether, and Dogecoin. Men, on the other hand, were more likely to own a greater variety of coins, according to the survey.
Nancy Gordon, the chief product officer of Bakkt’s Loyalty & Rewards business, stated that the study’s findings were extremely encouraging for women’s cryptocurrency adoption.
She observes that there was a tremendous appeal for accumulating cryptocurrency through channels such as giving and reclaiming points. These strategies have the potential to broaden the crypto market’s inclusion and accessibility, regardless of gender or financial level.
Other research have also verified the conclusions of Bakkt’s study. According to a new survey conducted by the crypto lending site BlockFi, many more women will invest in cryptocurrency this year.
According to BlockFi’s research, most women are drawn to cryptocurrency as a method to have an economic hedge. Their primary crypto investment strategy was discovered to be buy and hold; 70% of respondents had never sold their holdings after purchasing.