New BlockFi Survey Findings Despite crypto winter, women are still holding on

One in 10 women chose Crypto as a first investment

JERSEY CITY, NJ, 24 October 2022 /PRNewswire/ — BlockFi, a global crypto financial services company, today launched its latest edition of the Real Talk survey, a research series focused on understanding changing consumer sentiment towards crypto, investment and other related topics. The latest Real Talk survey, Women x Cryptoasked American women about their current motivations, behaviors and dispositions all around crypto investment and financial well-being. The survey tracks changed attitudes since the first and second women x Crypto investigations, published in September 2021 and March 2022 respectively

A generation gap is emerging for female investors

BlockFi’s latest survey found that one in 10 women chose crypto as their first investment, with 17% of Millennial women and 11% of Gen Z women saying crypto was their first investment. Crypto has even inspired new Gen-Xers to invest, with 7% making it their first investment, despite having more time to move into other asset classes than their Gen-Z and millennial counterparts. Overall, one in three (33%) women surveyed cite investing in a retirement vehicle as their first entry point into the markets, while one in four (25%) respondents said they have yet to invest.

“The latest edition of BlockFi’s Women x Crypto survey data shows that many women are looking crypto markets to make their first investment. And while the younger, digitally native generations are more likely to adopt crypto, Gen X and Baby Boomers are also open to participating. It’s exciting to see crypto adoption across generations. I hope that women who have not yet made an investment will consider taking the first step towards entering the market,” said Flori MarquezFounder and Chief Operating Officer of BlockFi.

Financial confidence is crucial for women in Crypto

BlockFi’s research also found that one in four women said they are not confident about their wealth-building investment strategy, while nearly half (45%) feel financially secure. In addition, one in three women reported that they often talk about finances in social circles, and Gen Z and Millennials signal greater comfort than their Gen X and Baby Boomer counterparts. And while the vast majority of women report having heard of crypto before, almost 81% of women still reported crypto to be confusing and 77% see crypto as a risky investment.

“Having a sense of financial confidence and security is essential. Our research shows that there is a significant difference between women who feel safe and secure about their investments and those who do not. We must come together to close this gap – especially in crypto ecosystem,” Ms. Marquez added. “Knowledge drives empowerment and confidence. I would encourage those women who feel financially secure and confident in their investment strategies, especially in crypto community, to reach out to those in their social circles who may not feel the same way and see how you can help them build their financial confidence.”

Female Crypto Owners remain robust

Despite a broad market decline, the survey’s longitudinal results indicate that female investors are interested in crypto has not decreased significantly. More than one in five women (22%) still intend to buy crypto during the next 12 months, somewhat down from 28% the previous year. When asked, one in five women believe crypto to be a good hedge against inflation. Even more, 20% of Gen Z women noted Bitcoin as the best long-term investment when presented with a list of options, including individual stocks and real estate. This was twice as many women as Gen X.

BlockFi’s research also indicates that the majority of female crypto investors have adopted a buy and hold investment strategy, suggesting a strong long-term outlook for the asset class. When asked specifically what best describes their crypto investment style, the majority of female crypto owners (69%) said they keep crypto and remain only hold. In addition, 21% of women report that they feel welcome crypto society. However, the majority are unsure (52%), which indicates a lack of knowledge about society rather than being seen as unwelcoming.

Mrs. Marquez concluded, “The crypto the landscape and the number of players looks completely different than it did six months ago when we last published this survey, and yet the belief in crypto markets and its potential as a long-term investment strategy remains. This resilience is extremely promising. As many have noted, the best building happens during bear markets. It is important that we use this time to build products and communities that are inclusive for all investors. At the end of the day, BlockFi’s vision is to accelerate global prosperity and is committed to ensuring that everyone feels welcome wherever they are in their crypto travel.”

Methodology

The survey, the third in a series evaluating women’s investment patterns, was conducted through a third-party research panel of 20 September 2022. 1,075 female-identifying Americans between the ages of 18 and 65 were surveyed.

About BlockFi’s Real Talk

BlockFi Real Talk is a quarterly survey series focused on understanding changing consumer sentiment towards crypto, investment and other related topics. Our goal is for the data to spark sincere, “real talk” conversations about crypto, the current state of the industry, and where it is headed in terms of mainstream adoption. Read our other Real Talk surveys: Women x Crypto, Women x Crypto 2.0 and Happy HODLdays.

About BlockFi

BlockFi is a new type of financial company. Founded in 2017 by Zac Prince and Flori MarquezBlockFi builds a bridge between cryptocurrencies and traditional financial and wealth management products to advance the integrated digital asset ecosystem for individual and institutional investors.

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