Gender inequality has always been a problem that several industries have had to deal with over the years. Apparently, that issue has crept into the crypto space too. However, a new study shows that women are getting more representation in the United Kingdom’s crypto industry.
More Women Getting Into Crypto
The Gemini Exchange published a trends report, showing the gender-based classifications of crypto investors in the U.K. The report shows a significant shift in trends, with women taking a more participatory role in the industry over the past few years.
The exchange had surveyed about 2,000 random residents in the U.K in the fourth quarter of 2020.13.5 percent of respondents were past or present crypto investors.
Of that number, an impressive 41.6 percent are women. A separate nine percent of total respondents would consider making crypto investments in the future, and of that number, 40 percent were women.
Gemini pointed out that the figure represents a significant upgrade from previous estimates, which showed that only 20 to 22 percent of crypto participants in the U.K. were female.
While female participation was rising, men were still found to be doing a lot of the heavy lifting. As the Gemini study shows, men hold more cryptocurrency than women in categories exceeding £10,000 ($13,694)— 65.8 percent of investors in that range were found to be male. However, women make up 53.4 percent of investors holding between £1,000 and £5,000 ($1,369 and $6,847).
It is worth noting that these findings don’t necessarily translate to the gender inequality problem being solved. In 2018, Bitcoin statistics resource center Coin Dance, a Bitcoin statistics resource center, reported that participation in the global Bitcoin community was largely male-dominated, with 94.73 percent of the community being male.
Today, that same statistic reads that male domination stands at 85.77 percent. Progress has been steady, but more needs to be done.
The inequality problem has also found its way into crypto companies. Last month, the New York Times reported about gender-based payment disparities at Coinbase, North America’s largest crypto exchange.
The New York Times had gotten payroll data dating back to 2018. Apparently, male level-one managers were getting about 20 percent higher than their female counterparts. Across the firm, male workers get about eight percent more than their female colleagues.