Why the Crypto World Needs More Female Leaders and Investors

Cryptocurrency, NFT, metaverse, DeFi – these buzzwords and new applications, all underpinned by blockchain technology, show the growing popularity of crypto adoption worldwide. Proliferation does not necessarily come with a good reputation, however. The crypto world is still largely portrayed as the wild west dominated by male speculators and bridge culture, reinforced by recent scandals and market dives. However, female involvement and leadership in crypto can help change this perception and build a more positive image for the industry.

The cryptocurrency industry is dominated by men. A recent survey found that less than 5% of crypto founders and less than 10% of crypto fund partners are women. According to another report, only 26% of current crypto holders in the US are women. The lack of female leadership and investors can reduce diversity in the crypto world, and worse, can hinder the industry’s progress.

Various reasons contribute to this.

Women often outwardly appear less self-confident in certain fields, including the world of finance. A Fidelity study suggests that only 33% of women feel confident in their ability to make investment decisions.

But we can also interpret this figure in another way. Female investors have a more sober financial outlook and may therefore be less willing to invest in risky assets such as cryptocurrencies, which are generally considered highly volatile. Without adequate understanding, they are not inclined to invest in cryptoassets on a whim. Reliable user education can help increase crypto adoption among women.

Lack of self-confidence may also explain the lack of female leadership in this industry. Women in management may be skeptical of their leadership ability and hesitate to speak up in workplaces dominated by men. As the CMO of my previous job at a fintech company, I was the only woman on the management team. I felt insecure and sometimes frustrated.

Even if you believe in your own leadership ability, you may well be discouraged by the stereotypes and gender biases that female entrepreneurs face. A PitchBook report found that female founders raised just 2% of venture capital funding in 2021. This low number reminds me of when I was struggling to raise funds for my own tech startup in 2017. I got similar responses from several venture investors: “We’re happy in you and your project, but we do not plan to invest in female entrepreneurs, especially those who are married but without children yet.” What a slap in the face.

We must remember that most of the characteristics associated with a particular gender are actually universal characteristics shared by all people, and it is time to break gender stereotypes, attract more women to the crypto world and embrace the benefits of higher female participation.

Having worked in a male-dominated management team before and now in a female-led team, I have first-hand experience of how female involvement and leadership helps the company in a number of ways, including a more positive work environment and improved product improvement.

As I embark on my journey at Bitget, I have found that there are many talented female leaders, such as our CEO Sandra, Marketing Manager Yvonne and Product Manager Dayu. Women are not afraid to share their opinions and insights, we always offer honest and helpful advice and support to each other, and this means that I no longer feel hesitant to speak up.

Meanwhile, women are better equipped with the power of empathy, a core asset for those in leadership positions. Their involvement can improve company culture and create a more diverse and inclusive workplace, while employees, especially women, are more willing to express their views in a more open working atmosphere.

Women’s smarts and power can not only increase the company’s capabilities in a mental way, but also in a financial way. Their perspectives and participation help to optimize business planning and product design, and stimulate innovation and change. This is because women sometimes trade and invest differently. Female employees and management have a deeper understanding and sense of empathy for the challenges and dilemmas the group faces.

Furthermore, female entrepreneurs and gamers can act as role models, to help other women gain more confidence in investing and overcome their apprehension about crypto, and attract talent, especially other women who want to join this industry. It will benefit not only the company, but also the industry, to expand the talent base and increase user acquisition.

So, in a nutshell, female engagement plays an important role in honing tools and recruiting talent, better preparing companies for the long term.

Gender inequality is the elephant in the room in many corners of society, but it shouldn’t be one in the crypto industry, as one of its original ethos is to create an inclusive and equal system that is accessible to diverse groups of people. It is not enough to simply notice this, as long-term efforts by industry players are still needed to tackle these issues.

For me, getting to know crypto investing and entering this world is such a lucky coincidence and I really want to introduce it to more people and invite more talents to join us. In July, Bitget teamed up with Juventus soccer players to donate to Los Angeles-based NGO DIY Girls, whose mission is to increase girls’ interest and success in technology and engineering by creating innovative educational experiences and mentoring relationships. Their goal is to change the way girls perceive tech careers, and my goal is the same – I want more ladies in the crypto industry.

Research and studies on women’s perceptions of crypto investing are needed to stimulate their demands and better understand their preferences, and to better understand what holds women back from investing and participating in the crypto world.

Crypto companies are responsible for providing more internships and employment opportunities for women and creating women-friendly work environments.

Cryptocurrency and blockchain should benefit the masses by creating more job opportunities, removing barriers to financial independence and other means for people of different backgrounds and experiences.

Equipping women with cryptocurrency knowledge, helping them harness this new technology and benefit from it, such as achieving career advancement and raising social status, should be our collective goal. The return on investment will create a better understanding of cryptocurrencies and reduce the stigma surrounding them, leading to a better version of the crypto world.