The number of women in Norway who own some kind of cryptocurrency doubled during 2021according to a new survey.
The survey, conducted by Arcane Research and Ernst & Young, found that the rate of women owning crypto assets in Norway went from 3% at the beginning of 2021 to 6% on March 30 this year. The online survey interviewed 1,000 Norwegians over the age of 15 and was carried out in collaboration with NORSTAT, one of the leading data collectors for market research services in Northern Europe.
Nearly two-thirds of all respondents said they had bought crypto for the first time in 2021. Until this recent survey was conducted, the gender gap in cryptocurrency ownership in Norway had widened; female ownership was stable at 3% from 2019 to early 2021. During the same period, male ownership increased, from 6% in 2019 to 14% in 2022.
The survey also found that, in general, roughly 10% of the Norwegian population — which would equate to 420,000 people — now own some form of cryptocurrency, representing a doubling of overall cryptocurrency ownership in Norway since 2018.
Norway is not the only country where the participation of women in the crypto industry has increased: Cointelegraph reported in December that a study by Australia-based crypto exchange Independent Reserve found that the number of Australian women investing in cryptocurrencies had also doubled, rising from 10% in 2020 to 20% by the end of 2021.
A 2022 survey in Turkey, published in March by KuCoin, indicated a more even distribution between male and female cryptocurrency users in the country.and that women made up almost half (47%) of all cryptocurrency investors and made up 63% of the “crypto-curious” demographic.
While the trend towards more equal participation in the crypto industry seems positive, there are still significant gaps in specific areas of the industry. In the NFT sector, female creators only account for 5% of all total market sales.
Global ownership of cryptocurrencies continues to grow. Roughly half of the German population has indicated that they are willing to invest in cryptocurrencies, with women making up 53% of that total, according to a survey published last week by KuCoin.
As Cointelegraph reported, Florian Döhnert-Breyer, the managing director of German cryptocurrency fund F5 Crypto, stated that Germany will come to be seen as a role model for the mainstream adoption of crypto investing: “As the largest country in the EU with a notoriously risk-averse view of financial assets, Germany has a special role to play.”
“The high number of women interested in cryptocurrencies is particularly encouraging, as this target group is, on average, less active in the financial market (eg the stock market).”
Research conducted by Grayscale from 2019 shows that women tend to be more risk-averse investors, a reason often cited as a partial explanation for the gender gap between the number of female and male crypto investors.
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Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.