According to a recent Arcane Research survey, the number of Norwegian women who hold cryptocurrencies has increased from 3% to 6% in just one year.
According to Arcane Research and Ernst & Young’s poll, the number of women owning crypto assets in Norway has increased dramatically. It increased from 3% in early 2021 to 6% by the end of March this year.
The online survey, performed in collaboration with NORSTAT, polled 1000 Norwegians aged 15 and up. It is one of Northern Europe’s main data collectors for market research services.
Gender Gap in Crypto Ownership
Almost two-thirds of female respondents indicated they bought cryptocurrencies for the first time in 2021. The gender disparity in Norwegian cryptocurrency possession had been widening before this recent survey.
From 2019 through early 2021, female ownership remained stable at 3%. During the same time span, male ownership climbed from 6% in 2019 to 14% in 2022.
According to the survey, almost 10% of the Norwegian population, or 420,000 people, already own some form of cryptocurrency. Since 2018, the number of Norwegians who possess cryptocurrency has increased by a factor of two.
More Countries Involved in Cryptocurrency
Norway isn’t the only place where women are becoming more involved in bitcoin. It was reported in December that a study conducted by Independent Reserve, an Australian-based cryptocurrency exchange, indicated that the number of Australian women investing in cryptocurrencies had also increased. It increased from 10% in 2020 to 20% by the end of 2021.
In March, KuCoin released a study from 2022 in Turkey that revealed a more balanced percentage of male and female crypto users in the country. Women made up nearly half of all cryptocurrency investors (47%) and 63 percent of the “crypto-curious” group.
The trend in crypto toward more equal participation appears to be favorable. However, there are still considerable gaps in the bitcoin business in certain regions. Female creators account for only 5% of overall market sales in the NFT sector.
Crypto Ownership on a Global Scale
Cryptocurrency ownership continues to rise on a global scale. Nearly half of the German population has expressed an interest in investing in cryptocurrency. According to a survey done last week by KuCoin, women accounted for 53% of the total.
Florian Döhnert-Breyer is the chief executive of the German crypto fund F5 Crypto, as previously reported. She believes Germany will become a role model for the wider acceptance of cryptocurrency investing. Germany, she noted, has a unique role to play as the EU’s largest member with a generally risk-averse attitude toward financial assets.
The large percentage of women interested in cryptocurrency is especially encouraging, given this demographic is often less involved in the financial markets (e.g., stock market).
Grayscale research from 2019 found that women are more risk-averse investors than males. The amount of female and male crypto investors is sometimes suggested as a partial explanation for the gender disparity.