Crypto Me, Crypto You
According to a study published recently on eToro, a trading company, women represent only 15% of Bitcoin traders. This figure highlights the gender imbalance in the cryptocurrency world. This is due to the fact that few women are in general present in the financial sector: only 6% of women have a financial position in large international firms, globally.
However, it is necessary to qualify: between 40% and 47% of future investors would be women, which would amount to having a certain impact on the world of cryptocurrencies. Indeed, socio-psychological studies show that women are recognized for their ability to take fewer risks than men and to weigh more the risks before acting.
HOW IT WORKS
To understand how Crypto Works, you should first understand its system: the blockchain. Blockchain is a type of database. Contrary to ordinary database that stores information; Blockchains store data in blocks which are then chained together. As new data comes in it is entered into a fresh block, then chained onto the previous block, which makes the data chained together in chronological order. For Bitcoin, Blockchain is “decentralized” which means nobody has control on it — or better said, all users, collectively, have control of it. Decentralized Blockchains are immutable: the data entered is irreversible. For Bitcoin, this means that transactions are permanently recorded and viewable to anyone.
OUTSTANDING WOMEN IN CRYPTO
Nevertheless, there are some remarkable Women in the Cryptocurrency world. Here below some examples.
Hester Peirce, SEC commissioner
Know by many as “Crypto Mom”, Hester Peirce is an SEC commissioner who is playing an instrumental role in delivering a regulatory framework for digital assets. She was applauded for being passionate about delivering clarity for the crypto industry — something that she believes crucial.
Camila Russo, The Defiant founder
Some areas of the crypto sector — especially decentralized finance — can be extremely confusing to follow. The journalist Camila Russo made remarkable breakthroughs in demystifying this space for all of us. Formerly a reporter at Bloomberg, she went on to write an in-depth book about Ethereum’s story.
Elizabeth Stark, Lightning Labs CEO and co-founder
Bitcoin can only handle about five transactions per second, but Elizabeth Stark is initiating an effort to make Bitcoin payments faster and cheaper than they are now. She is the CEO and co-founder of Lightning Labs, a company that aims to serve as a Visa-inspired network for the Cryptocurrency. This proves the potential of Bitcoin to become a payment method
Sheila Warren, World Economic Forum head of Blockchain and data policy
Sheila Warren designed a series of predictions for 2021, writing: “It is likely that financial institutions and service providers will intensify their own experiments with, and use of, Cryptocurrency this year, whether via investment or actual deployment.” She also believes in the full exploration regarding the merits of decentralization.
5 RULES TO INVEST IN CRYPTO
#1 Only invest what you can loose
Trading crypto is playing with fire. You can win a lot but also loose a lot. Do not invest money you need.
#2 Don’t do FOMO (Fear Of Missing Out)
Control your emotions. Cryptocurrency can get high really fast but also drop drastically in few hours.
#3 Sell low, Buy high
This is the most basic rule. But in every cases, limit your investment to 3% to 5% percent of your initial investment. Nobody always win.
Learning how to read a graph is mandatory in Finance so do in Crypto. This will help you to understand the trends and how it works.
#5 Don’t rush, be patient
Sources: https://www.finextra.com/; https://coinmarketcap.com/ ; https://globalwomeninblockchain.org/ https://www.oliverwyman.com