As the cryptocurrency and blockchain industry continues to mature, a number of figures are now mulling over how to attract people from outside traditional demographics into investing.
Earlier in the month, a study from Circle found how investing in cryptocurrency is still a field largely dominated by men and younger populations.
The company used SurveyMonkey Audience panels to question more than 3,000 Millennials, Gen Xers, and Baby Boomers.
Disparities In Investor Profiles
According to the results, 18% of Millennial men were planning to invest over the next year. This number was just at 7% for women.
Overall, about 25% of Millennials surveyed said they were interested in buying cryptocurrency over the next year, a figure “more than 10 times the rate than Baby Boomers.”
Divya Agarwalla, head of product at Circle, told TechCrunch how the current application landscape is “geared towards folks that understand the market already,” pointing out how most of these people are men.
Now, Circle is trying to tackle some of these disparities, partially through the release of the ‘ Circle Invest ’ tool, that is focused on “making crypto investing accessible for everyone.”
Introducing Circle Invest
The addition of Circle Invest as a new feature to the company’s investing application is designed to help new demographics learn about the cryptocurrency world and feel comfortable jumping in.
Circle regards the feature as “sort of a ‘Cryptocurrency for Dummies’ built into the app” that gives users access to simple and jargon-free definitions.
Some of the features of Circle Invest include a ‘Buy the Market’ tool to invest in all 11 coins available on the application with one click. Users can also set up automatic investments on a daily, weekly, or monthly basis through the ‘Recurring Buys’ feature.
Speculations are that making moves to attract new user bases plays into Circle’s ambitions to become a PayPal or Venmo-like figure in the world of cryptocurrency. A $110-million-dollar fundraising round in May already gave Circle a valuation of $3 billion.