Gender imbalance and wage gap in the crypto sector

Research conducted by BDC

Consulting shows that more than half of women who resorted to cryptocurrency did so to improve their health. Women are also more likely to hold cryptocurrency for a long time than to engage in trading. The study notes that the main challenges in entering the crypto sector are a lack of educational materials, shared family budgets, and offensive comments from male peers in crypto-related online communities. According to a study by Psychology Date, only 23% of women find men interested in cryptocurrency attractive. So, let's find out how many women are in cryptocurrency and what are the requirements for women to work in the crypto sector.

Gemini's Global State of Crypto 2024 report shows that the gender ownership gap is not only real, but has become more pronounced in 2024 than in 2022. The share of women among respondents will decrease from 42% in 2022 to 31% in 2024.

The report shows that women and men are equally inclined to buy cryptocurrencies for the long term. In the UK, the percentage of women who hold cryptocurrencies for more than a year is higher than the percentage of men who hold cryptocurrencies for a long time.

It is worth noting that although this study is described as “global”, it is based on a survey of 6,000 adults from just five countries: the United States, the United Kingdom, France, Turkey and Singapore. It does not include respondents from many countries with populations actively involved in cryptocurrencies.

This disparity suggests that crypto companies have great potential to grow their user base by attracting female investors. However, companies need to find a way to attract women who have not yet shown interest in cryptocurrencies.

The gender gap becomes even more pronounced when it comes to the proportion of women working in the cryptocurrency industry. Forex Suggest research points to a serious gender imbalance among CEOs of major crypto companies. The study shows that only 3 of the top 50 industry leaders are women, while the remaining 47 are men.

According to ForexSuggest, the most influential female blockchain CEOs are BitOasis CEO Ola Dudin, Kaiko CEO Ambre Soubiran, and Elliptic CEO Simone Maini. None of these are based in the US, and none of these have a web presence comparable to that of leading male CEOs, making them less visible than the companies they lead.

This gap is indeed shocking; however, these statistics should not discourage women from entering the cryptocurrency sector, as many women are building rewarding careers in cryptocurrency despite the challenges.

 

The pay gap is another hot topic

Forbes cites the 2024 Web3 Finance Compensation Report, which found that, on average, women in the Web3 industry earn 46% less than men. This gap is far larger than the gap that exists in the Web2 finance sector. Venture capital investments in crypto startups founded by women reached 7% in 2024, which is 100% higher than the previous year, but still modest. Pantera Capital, however, paints a completely different picture. According to their research, women in the crypto industry earn more than their male counterparts. The company surveyed 502 respondents from the United States in 2024. According to Pantera Capital, women in Web2 finance earn 84 cents while men earn a dollar. Men in Web3 finance earn $1 while women earn $1.15. This means that the average salary of female employees is 14.67% higher than that of male employees.

The study shows that the overall number of women in the industry is very low. Interestingly, entry-level positions are mostly occupied by men, while women usually hold positions that require at least 5 years of experience. Research from Pantera Capital suggests this may be one factor explaining the “reverse wage gap” in the crypto industry.