For Australian women, there is a general hesitancy towards cryptocurrency due to it being perceived as a male dominated investment area. In fact, new research reveals men make up more than two-thirds (68%) of the Aussies who invest in cryptocurrency.
Hoping to change this imbalance, software designer Prashant Rajkhowa, aims to encourage more women to try their hand at investing with crypto investment platform Chillur, designed for beginner investors.
“The idea of investing in general has been stereotyped as men in suits, yelling at the rise and fall of graphs and keeping an eagle eye on the financial trends and it takes just one Google search to see that the discussion around digital assets is unfortunately driven predominantly by men. This attitude is harmful because it’s very exclusionary.”
“Our Australian Investor Sentiment Report 2022 found that women are excellent with their money with nearly six in ten (58%) Aussie women considering themselves to be very sensible with their finances. It’s important we encourage women to start investing in themselves, but it’s equally important to debunk the myths about the crypto world in that it’s full of risks and scams.
“Cryptocurrency investing is not a get rich quick scheme, but a sustainable practice to assist in building long-term wealth,” says Rajkhowa.
Awareness and re-education appear to be the key to encouraging Australian women to dip their toes in the investing pool. The report reveals more than one in ten (14%) Aussie women want to invest in cryptocurrency but don’t know where to start, more than a third (37%) feel investing in cryptocurrency is too risky, while a quarter (26%) don’t want to lose money.
Psychologist Jocelyn Brewer says there are often psychological barriers women face surrounding risk, trust, and confidence when it comes to investing.
“Women often feel like money and investing is a man’s world (as traditionally it has been) and don’t seek out investment opportunities or build skills to understand financial decision making, markets and instruments.
“As women are often less risk adverse than men and have their hands and minds full with a range of domestic and social tasks, there is a perceived risk within all investment areas that can put women off from participating in investing,” she says.
With the research stating men are more likely (62%) to make all the financial decisions than women (58%), it may be time to tip the scales and for more women to start investing in themselves. There has never been a better time to do so, as one in two (53%) women admit they are always on the lookout for new ways to make money.
“It’s important to destigmatise investing as something only men can do and be successful at,” says Brewer.
New to the world of investing during the pandemic, entrepreneur Judy Sahay began breaking down bias and embarking on her own financial journey, one that she says has been full of excitement.
“I’ve been investing for two years now, in a number of projects including shares, stocks, crypto and blockchain projects and female founded tech projects. My advice to anyone is that having a diversified portfolio is always a good idea,” says Sahay.
Crypto investment platform Chillur is encouraging women to seek investment opportunities in cryptocurrency. The platform is designed to help crypto beginners achieve sustainable returns through regular investing. Women looking to start investing in their future can visit www.chillur.com.au
Launched in 2019, Chillur is a platform that simplifies the purchase of cryptocurrency. Beginners can buy cryptocurrency bundles and set up their diversified cryptocurrency portfolio in minutes. The platform enables you to build long-term wealth through passive investing in new and established cryptocurrencies.
About the Australian Investor Sentiment Report 2022
The research by Chillur was carried out on a national representative sample of 1008 Australians aged 18 and over in March 2022. Methodology: The data sample was weighted against ABS data for age, gender and location using an online survey that is independently conducted and verified PureProfile.