Research conducted by the London Block Exchange (LBX), a UK-based cryptocurrency trading platform, suggests that women may be about to lead cryptocurrency investors, as the number of women looking to invest in cryptocurrencies doubled in the past six months.
According to news outlet City AM, the number of men looking to invest in cryptocurrencies is starting to level out, while the number of women looking for digital currency investment opportunities went from 6 percent to 13 percent in said time period.
Per the LBX, the millennial generation has been extremely interested in cryptocurrencies, with one in five female millennials looking to invest in the crypto space. Commenting on the findings Agnes de Royere, a senior analyst at LBX, stated:
“There’s still a common misconception that cryptocurrency is a game for men, but we’ve seen hundreds of women sign up for our exchange in the last few months and some of the most inspiring and knowledgeable investors, leading the way in the industry are female.”
The trading firm’s report further suggested that women are more likely to take a strategic approach when it comes to their cryptocurrency investments, as the company claims they’re 50 percent less likely than men to suffer from fear of missing out (FOMO).
Notably, various analysts believe last year’s cryptocurrency price surges, that saw most cryptos hit a new all-time high, was mostly caused by FOMO. Bitcoin, the flagship cryptocurrency, started the year at roughly $1,000, and hit a high of nearly $20,000 in mid-December, as investors purportedly bought the cryptocurrency not to miss its gains.
LBX’s study added that women are “twice as likely to consult friends and family before making a decision while man statistically prefer the ‘going at it alone’ approach.”