If cryptocurrencies are not the prerogative of men, they are however twice as likely to get started as women. One more inequality in the world of finance and tech, which some "cyber-feminist" communities are trying to counter.
This is a March 8 chestnut tree. In the media, the date of International Women's Day often seems to represent "the opportunity" to point out the under-representation of women in the world of tech. And cryptocurrencies, which sit at the crossroads of tech and finance, crystallize these inequalities.
According to an American survey carried out by the company Acorns and the media CNBC published in August 2021, men invest twice as much as women in crypto-currencies (16% against 7%). However, 43% of those interested in investing in Bitcoins are women, according to estimates from another study published in 2019 and carried out by the American investment fund Grayscale. So what's stopping them from jumping into the water?
“Cryptocurrencies represent one of the riskiest financial investments today. However, risk aversion is stronger among women: because it is less rooted in our social construction, but also because women earn a lower salary than men. They are often also the ones who manage the expenses related to children. All these reasons mean that fewer of them are getting into cryptocurrencies", analyzes Léa Lejeune, economic journalist and founder of "Plan Cash", feminist newsletter "about money".
Some will argue that the fact that cryptocurrencies are emerging at a time when more efforts are being made to bring more women into tech may work in their favor. A point of view that Léa Lejeune does not necessarily share: "There are certainly initiatives to bring more women into tech, but not into the heart of the profession. The number of women in engineering schools is falling, that of developing or miner women also remains insufficient".
“As for women hired in companies specializing in cryptos, they are still too often relegated to communication or human resources. also applies to cryptos. But unfortunately, we are not there yet", adds the journalist.
"Girl power" and cryptos
However, we are witnessing the rise of cyber-feminist communities: accounts on social networks, private discussion groups... We are thinking, for example, of the "Boy's Club", founded by the American Deana Burke. This collective of women and non-binary people banned from cisgender men describes itself as a “zone for the crypto curious”. A way of countering the masculine inter-self cultivated by certain masculinist geeks, who define themselves as "crypto-bro".
Similar initiatives also exist in France. In particular La Mineuse, an Instagram account founded by Amandine Claude and which provides advice to women wishing to embark on the adventure of cryptocurrencies and NFTs. Or the "Crypto Baddies", a community for girls, gays, non-binaries and web3 baddies.
We can also turn to Françoise Gadot, alias "Mamie crypto", organizes workshops to train in blockchains and cryptocurrencies, through her program "Les Hackeuses", which accompanies women to "take their place" in blockchains and cryptos.
"It would be a shame to leave all this money to men!"
"Safe spaces" that put women in the spotlight, where you can learn about cryptocurrencies and ask your questions, without fear of being ashamed or feeling illegitimate. "Knowing that you are talking to a real person and not just a pseudonym without knowing who is behind it also represents a guarantee of trust", considers Léa Lejeune.
By dint of covering the subject, the journalist ends up engaging in this mode of investment on a personal basis: "I started at the end of 2021, when prices started to fall (and which have also continued to fall since It was by taking an interest in the subject and studying the share of risk that I could afford to take that I decided to invest. So I waited for the 'right moment' to take the plunge!" , she says.
“Of course, the goal is not to embark on 'all-crypto' and leave all your savings there, but rather to think about a strategy: what shares you decide to invest in it and why, etc. It is therefore accessible, including to women who have to manage expenses related to children”, she believes.
Before adding: "Even if no one can predict this with certainty, I think that there is a strong probability that cryptocurrencies will continue to progress strongly in the coming years. It would therefore be a shame to leave all the money to the men!"