What it means to be a woman in blockchain and crypto
The world of cryptocurrency is extraordinary in many ways, and flying the flag for women in this industry can be a unique experience. The journey of breaking barriers, challenging stereotypes, and carving out a space in a predominantly male-dominated field is a testament to the resilience and determination of women in crypto.
Breaking barriers
Like with most things, when it comes to gender and blockchain, the numbers do the talking. With only 6% of CEOs in blockchain being women, compared to the 17% of CEOs in the broader technology sector, there is a distinct underrepresentation of women in the field. Gender disparity is also evidenced when capital raising for web startups. Those founded by all-male teams secure an average funding of $29.2 million, while those led by all-female teams receive an average of just $7.8 million. These figures show an obvious bias in funding allocation, favouring male-led ventures. Statistics show only 15% of all VC-check writers are female which could explain an unconscious bias as most investments would be led by men.
However, there are signs of change. A recent study highlighted that 43% of individuals interested in Bitcoin investments are women. This shows a growing interest among women in the crypto and blockchain sphere. Additionally, insights from Coincover’s latest survey, “Securing the Future of Cryptocurrencies,” found women have greater confidence in the future of cryptocurrencies compared to men, with 34.6% expressing some level of confidence, as opposed to only 17.7% of men sharing the same sentiment.
The percentage of women who own crypto has risen significantly, from 18% at the beginning of 2023 to 29% at the beginning of 2024. It’s likely that the number of women working in the industry will also rise as awareness and familiarity grows. The smaller number of female investors compared to men can be attributed to the fact that only 48% of women participate in the stock market, in contrast to 66% of men, coupled with the observation that women generally do not prioritise investing as a top financial endeavour.
Beyond the numbers
Statistics alone don’t give a rounded view of what being a woman in crypto is like. From navigating the complexities of blockchain technology to making impactful decisions in investment strategies, women in crypto bring diverse skills, perspectives, and strengths to the table. They are trailblazers, innovators, and leaders shaping the future of finance and technology.
As understanding increases, we see that crypto allows a necessary and viable route to securing an economic future for individuals and broader communities. The inclusion of women brings fresh viewpoints and approaches, enriching the industry’s problem-solving capacity and fostering a culture of creativity and collaboration. Moreover, embracing diversity amplifies the talent pool within the blockchain sector, drawing upon a wider spectrum of expertise and backgrounds.
Beyond the professional landscape, empowering women in blockchain holds profound implications for societal progress. By dismantling gender disparities in tech, the industry paves the way for greater gender equality and inclusivity. Creating an environment that champions diversity not only unlocks the full potential of its workforce but also resonates with the diverse user base it serves.
This International Women’s Day and beyond, Coincover is proud to recognise and appreciate the strength and talent of the women we work with and their contribution to the ongoing blockchain revolution. There’s no better way to honour their impact than by hearing directly from these remarkable women about their experiences and views of being a woman in blockchain:
Annabel Macleod, Product Commercialisation Manager
“To be a woman in the crypto space has meant embracing my differences as an individual in the workforce and translating them as gold nuggets of impact and opportunity. In this instance, bringing my creative skills from my previous walk of life as an Architect to the forefront and aligning them to the digital currency world in the hopes it encourages the shaping and adoption of alternative narratives and differing fields of vision to give the industry a spunky edge!”
Eleanor Gaywood, Head of Brand and Communications
"Being a woman in the crypto space isn't just about breaking barriers; it's about leveraging our unique perspectives and skills to revolutionize an industry that's rewriting the rules of finance.
Despite the undeniable dominance of men in sectors like finance and technology, it shouldn't deter the next generation of women from exploring opportunities in blockchain. Representation is key, and while the landscape may appear daunting, it's a path worth considering.
As we navigate this evolving space, it's crucial to recognise that our presence isn't just about filling a quota; it's about bringing valuable insights and perspectives to the forefront, shaping a future where diversity thrives, and innovation knows no bounds. There has never been a better time to redefine the narrative and pave the way for a more inclusive crypto landscape."
Emma Galvin, Senior Brand Designer
“Like in other industries, there are many challenges that I face on a day-to-day basis working in the Blockchain industry. From underrepresentation and feelings of intimidation due to its perception as a male-dominated industry to, most importantly, navigating a work-life balance.
I can see that blockchain companies are increasing representation and striving to create more supportive environments for women, which highlights the value that women in Blockchain can add in redefining the future of finance and technology.”
Kath Denton, Head of Custody/Internal Comms
“What’s it like to be a woman in a crypto world? Let me tell you that it draws on all our skills - it’s a high-stakes, rapidly changing environment which requires you to be adaptable, learn quickly and navigate uncertainty - a bit like being a mother!
It’s exciting to work in an industry that is changing the face of finance, and I find myself learning something new every single day. The women I work with are awesome (so are the gents, but don’t tell them I said that) and bring so much to the table. Our collective entrepreneurial spirits and natural perseverance have created an environment where obstacles are overcome, and we work together to achieve both our own and the company’s aspirations.
We’ve still got a long way to go to redress the gender imbalance, but if we’re not willing to take a punt and go work in industries which need to change the most, how will things ever change? When Bitcoin hits another all-time high in the not-too-distant future, me and my meagre investment will be glad I took that chance and got involved.”
Patricia Booth, DevOps Engineer
“As a woman in the crypto/blockchain industry, it is exciting. Being part of something with so much potential is empowering and gets me motivated to work towards something great.
But it is also important to remember that being a woman in blockchain is not just about gender – it’s about embracing the opportunity to be part of something revolutionary, empowering, and transformative. In a world where innovation is a necessity, driving change in how we reach our goals is just as important.”
Vikki Sly, Chief People Officer
“Working in crypto never crossed my mind, yet here I am, a woman at the forefront of a financial revolution. I’ve always championed equality and innovation and am proud to continue that work in a traditionally male-dominated industry and help women break barriers in the crypto space. When I started working, women wore pencil skirts and shoulder pads, and you can imagine the rest! My time in crypto has been the polar opposite of this; the women I work with are strong, talented, and unafraid to have their voices heard.
There is still a gender imbalance that needs addressing; we must acknowledge this. It can only benefit the blockchain industry to ensure women have equal access so we can harness their skills and creativity to develop the industry. Today is about celebrating women’s achievements and raising awareness of what is still to be done, and I wanted to express my gratitude to the women I work with. Their dedication and passion inspire me, and their unique perspective and contributions are vital in shaping our success. Working with you is an absolute pleasure, and today, on International Women’s Day, I’d like to acknowledge and celebrate your accomplishments.”
The future for women in crypto & blockchain
The future of blockchain is bright for women. As the industry matures, we can expect to see more participation with more women entering the workforce and leadership positioning within the blockchain space. Along with a shift in culture to provide a more inclusive and welcoming environment for everyone regardless of gender. Lastly, yet arguably the most pertinent for success in the blockchain landscape, women will continue to play a vital role in bringing innovation to shape the bright future of this transformative technology.