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Mexican Women's Crypto Adoption as a Key to Equity

By Bárbara Garza Suess - Buenbit
Country Manager


By Bárbara Garza Suess | Country Manager - Fri, 04/22/2022 - 10:00

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The "Women & Crypto" survey (2022, April), by global firm Bakkt, suggests that the vast majority of respondents, male and female, hold that cryptocurrencies are strongly associated with men. However, this perception is not mirrored in crypto adoption by women: for example, out of the total number of respondents in the 25-39 age group, women investing in crypto accounted for 53 percent, while men managed the largest amounts.

The "Cryptocurrency Adoption Index" (2022, March) shows that men in Mexico are approximately 1.3 times more likely than women to own digital currencies: among cryptocurrency owners, 57 percent are men and 43 percent are women.

According to Bakkt's survey, knowing how the crypto economy works remains a key to overcoming the barrier to crypto adoption by women. More than 70 percent of women who do not own cryptocurrencies rate their crypto knowledge as low or very low, according to the survey.

However, the philosophy with which blockchains were created, by their nature, tends to promote greater financial inclusion: there are no similar precedents. They are open source, which means that all those people who are still left out of the banking system by the infrastructure of traditional finance could find in blockchain a tool to avoid being marginalized.

Blockchain technology promotes equality beyond gender, not only in its financial applications but across the entire spectrum. In recent years, women's struggle for gender equality has had a very positive impact thanks to technological advances. With the mass scale of the internet, it has become much easier to make our voices heard; social networks, in particular, have helped us to voice our needs much more forcefully. In the same way, blockchain technology has provided another step, mainly related to financial freedom, to which many women perhaps did not have such easy access. Today, we all have access to a tool that allows us to manage our money without differences.

We just need to create the ideal conditions for more women to become interested in or pursue studies related to blockchain technology, programming and finance, and for that to translate into a greater presence in the workforce. This industry has a great demand for labor and is open to all people who show passion and knowledge.

For example, at Buenbit, everyone is treated equally; opportunities, benefits and responsibilities are according to the role, no matter who you are. Female employees represent 40 percent of the team, which allows women to identify with more people on the team and to have a greater diversity of opinions and experiences in decision-making. We are proud of this, especially because we live it naturally: women lawyers, accountants, product managers, designers and even artists — we all work in different areas of the company.

In short, we must be aware that although the road is not free of obstacles, we can adapt to follow, as the tools are available. It is important to share our knowledge and experience, including successes and lessons learned along the way, to make it clear that perseverance is key to achieving goals.

Photo by:   Bárbara Garza Suess

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