The number of women in Norway holding some form of cryptocurrency has doubled over the course of 2021, according to a new survey.
A survey conducted by Arcane Research and Ernst & Young showed that the share of women holding crypto assets in Norway rose from 3% at the beginning of 2021 to 6% by March 30 of this year. The online survey surveyed 1,000 Norwegians aged 15 and over and was conducted in partnership with NORSTAT, one of the leading data collectors for market research services in Northern Europe.
Nearly two-thirds of all female respondents said they bought cryptocurrency for the first time in 2021. Prior to this recent survey, the gender gap in cryptocurrency ownership in Norway was widening, with the share of women remaining stable at 3% from 2019 to early 2021. over the same period, male ownership increased from 6% in 2019 to 14% in 2022.
The survey also showed that, overall, approximately 10% of the Norwegian population, which equates to 420,000 people, currently own some type of cryptocurrency, representing a doubling of total cryptocurrency ownership in Norway since 2018.
Norway is not the only country that has seen an increase in women’s involvement in cryptocurrencies. It was reported in December that a study by Australian cryptocurrency exchange Independent Reserve found that the number of Australian women investing in cryptocurrencies had also doubled from 10% in 2020. up to 20% by the end of 2021.
Turkey’s 2022 survey published in March by KuCoin showed a more even distribution between male and female crypto users in the country, with women accounting for almost half (47%) of all crypto investors and representing 63% of “curious cryptocurrencies.” demographic.
While the trend towards more equal participation in cryptocurrencies looks positive, there are still significant gaps in specific areas of the crypto industry. In the NFT sector, female creators account for just 5% of all sales across the entire market.
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The total global ownership of cryptocurrencies continues to grow. According to a survey published last week by KuCoin, approximately half of the German population said they were ready to invest in cryptocurrencies, with women making up 53% of this amount.
As reported by Cointelegraph, Florian Dönert-Breuer, Managing Director of Germany’s F5 Cryptocurrency Fund, stated that Germany will be a role model for wider adoption of cryptocurrency investment: “As the largest country in the EU with a notoriously risk-averse outlook on financial assets, Germany should play a special role.
“Particularly encouraging is the large number of women interested in cryptocurrencies, as this target group is on average less active in the financial market (e.g. the stock market).”
A 2019 Grayscale study shows that women tend to be more risk-averse, and this reason is often cited as a partial explanation for the gender gap between the number of women and men who invest in cryptocurrencies.