women

Singaporean women ‘outperforming’ men in crypto trades, survey reveals

The survey also found that 24% of women have allocated more than 20% of their portfolios to crypto.

Singaporean women are slightly more likely to make money or at least break even on their crypto investments than their male counterparts, according to a survey from cryptocurrency exchange Independent Reserve.

Published on March 28, the annual Independent Reserve Cryptocurrency Index (IRCI) survey was conducted in February and polled “1,500 everyday Singapore residents on their attitudes toward cryptocurrency.”

As per the survey data, 76% of women reported either making money or breaking even on their crypto investments, compared to just 72% of men.

“Since the launch of IRCI in Singapore in 2021, this is the first time that females have reported outperforming their male counterparts,” the survey results read.

Crypto ownership, Women vs Men. Source: Independent Reserve

The survey has also found an increase in women participating in crypto investments this year, with 37% of women surveyed saying they had crypto investments, accounting for a 7 percentage point increase compared to the previous year.

On the other hand, 48% of men said they took part in the activity, which was down 1 percentage point compared to the 2022 IRCI.

A significant number of women surveyed also outlined bullish stances towards crypto, with 24% stating that they had “allocated more than 20% of their investment portfolio to this asset class.”

“Over the next 12 months, 48% plan to further invest in their existing portfolio while 43% intend to diversify into other tokens, Defi or NFT projects,” the report adds.

Investment performance vs time in market. Source: Independent Reserve

The IRCI also provides a score for the overall confidence level in crypto ranging from 0 to 100. In this year’s edition, Singaporean confidence scored 55 out of 100, down from 61 the year prior.

This was mostly attributed to the rough year crypto had in 2022, as several major crypto firms went bankrupt, while the collapse of Do Kwon’s Terra/LUNA project also sent shockwaves through the sector.

“2022 was a challenging time for the cryptocurrency industry, due to several macroeconomic factors. The collapse of Terra-Luna and the FTX fallout has understandably led to a loss of confidence and trust in the industry,” said Lasanka Perera, the CEO of Independent Reserve Singapore.

However, despite confidence shaking, crypto adoption did still increase, with 43% of respondents stating they had crypto investments, compared to 40% the year prior.

Additionally, a significant number of respondents indicated that they had long term confidence in crypto, with 48% of all crypto investors stating that they plan to increase their current portfolios.

Related: ‘US has left a vacuum that other countries are eager to fill’: Coinbase

“As recent global financial events continue to unfold, many may also re-evaluate their dependence on traditional financial institutions to safeguard their money and turn to alternative assets such as Bitcoin to hedge against bank defaults and currency debasement,” Perera noted, adding that:

“It is encouraging to see that optimism towards the long-term benefits of cryptocurrency remains strong in Singapore and that investors who adopt a long-term view are reaping rewards.”

Perera also suggested that part of the Singaporean crypto investor’s long-term confidence was due to the government’s well-established regulatory frameworks for the sector.

“Singapore has one of the clearest and robust regulations for cryptocurrencies, which gives investors an added assurance of dealing with trusted players. As Singapore continues to remain open to innovation in digital assets, education remains crucial as awareness and adoption of cryptocurrencies among residents grow,” the CEO stated.

Related: Best and worst countries for crypto taxes — Plus crypto tax tips

Women in Web3 advocate for increased diversity in the ecosystem

Several women suggested that education and grassroots training could be effective tools in promoting diversity within the Web3 ecosystem.

Although the Web3 ecosystem is rapidly evolving, the industry still faces many challenges, one of which is its lack of diversity. The underrepresentation of women in the field remains a significant concern, as their involvement is indispensable in addressing some of the field’s critical challenges.

In a recent interview, several women in the Web3 industry shared their experiences and insights on the importance of increasing the presence of women in the field, as well as what can be done to achieve greater diversity. From taking small initiatives to educating the next generation of diverse talent, these women provided valuable perspectives on how the Web3 ecosystem can become more inclusive.

According to Sandra Leow, research analyst at Nansen, the first step is encouraging women in the space to promote small initiatives, like referring friends to crypto projects, regardless of their gender. Leow believes the Web3 industry can improve diversity by prioritizing onboarding initiatives to help more people, especially women, become familiar with on-chain data and blockchain explorers. She acknowledged that the learning curve for crypto can be steep, with information being scattered and difficult to find. She noted:

“I think it’s still extremely hard to learn the basics of crypto, because I think the knowledge that you get and the information is very scattered.”

Journey Li, social media manager at Nansen, believes that expressing one’s involvement in the field is a way to inspire more women to join. She shared:

“One way to inspire more women to join the Web3 industry is by being vocal about your own involvement and identity as a woman in the field. By sharing your passion and expertise with others, you can lead by example and demonstrate the value that women can bring to this space.”

Devon Martens, principal Blockchain Engineer at Sweet NFTs, said that great role models will motivate women to pursue Web3, which has so much potential, especially for female leaders looking to change the world. To improve diversity in the industry, Devon suggested:

“The simple answer is to give people a chance. Take the time to seek out candidates from different communities than you might otherwise personally know. Interview female applicants that fit the role and consciously offer them the opportunity to grow based on their skill set.”

Devon also encouraged companies to provide internal growth opportunities such as courses and workshops and ensure that people have the time and resources to pursue them. 

Sandy Carter, chief operating officer and head of business development at Unstoppable Domains, believes that communities, organizations and companies need to collaborate and take proactive measures to improve diversity in the space, with a focus on education and training starting at the grassroots level. She shared:

“Education is fundamental to encouraging more women and minority groups in the space, which ultimately starts at the grassroots level. There needs to be more emphasis on training in schools and colleges where girls can learn the skills early.”

Related: Women in Web3 discuss challenges within the industry

On March 8 — International Women’s Day — Coinbase founder and CEO Brian Armstrong tweeted that he held a “build back better” dinner in New York and faced criticism due to the fact it featured only male crypto founders, with Twitter user Cokie calling him out for the visible absence of women at the table.

To encourage more women to join the industry, the founders Cointelegraph spoke to say there needs to be more emphasis on training at the grassroots level, starting in schools and colleges. Workplaces also need to be more encouraging of such diversity initiatives. Overall, the Web3 ecosystem needs more women, and companies and organizations need to collaborate and take proactive measures to encourage diversity.

Breaking barriers: Meet 7 women shaping the future of crypto and Web3

Cointelegraph spoke with women from different backgrounds, projects, countries, and generations about career, diversity, and their journeys in crypto.

Women have been part of the crypto space since its genesis, developing projects, communities and brands, as well as tackling many trenches that this emerging industry demands.

Yet, they have been less involved in starting Web3 businesses. According to the Web3 Career Market report by crypto exchange KuCoin, 27% of female professionals in the field have been involved in starting a crypto startup, compared to 41% of males in the survey. For many, the “bro culture” in Web3 poses career challenges and barriers to onboarding more women into the space, the same report shows.

Diversity has been a hurdle in other industries as well, such as technology and finance — two sectors that intersect into crypto. As such, it’s not surprising that women are still poorly represented among Web3 developers and crypto traders. More firms in the space are acting to improve diversity, however, seeking innovative collaboration and broader adoption.

Cointelegraph’s team spoke with women in the crypto community about their careers, their journey into crypto and diversity in the industry. They are women from different backgrounds, projects, countries, and generations. All of them are working toward a similar goal: encouraging others, regardless of gender, to join this rapidly evolving industry.

Meet Seema Khinda Johnson, co-founder and chief operating officer of Nuggets:

Seema had a 17-year career leading product development strategies for startups and Big Tech companies before a security incident led her to the crypto space: Her husband’s credit card and personal data were stolen. The experience opened her eyes to privacy control issues, leading the couple to establish Nuggets, a decentralized identity wallet, in 2016. 

To build the project, she decided to email Vitalik Buterin, co-founder of Ethereum, for developer recommendations. “Everyone thought that was ridiculous, that he’d never respond, but sure enough, 20 minutes later, I got a reply with a recommendation of who I needed to speak to. It was a great lesson that you can make pretty much anything happen if you just go for it,” she recalls.

While Seema feels lucky to have some brilliant male allies in the Web3 space, she believes funding and supporting more female entrepreneurs is necessary to boost crypto adoption:

“If people are serious about onboarding 1 billion users into crypto, then we need to attract and retain diverse teams that build powerful products with utility that make sense for us all.”

Meet Sandra Leow, researcher analyst at Nansen:

Sandra was introduced to crypto by her sister and rapidly delved into “the rabbit hole of crypto,” investing in altcoins and NFTs. Sandra was an intern in the Amber Group before joining Nansen, where she is engaged in using on-chain data to promote more transparency in the blockchain space. 

Sandra Leow: “I think we’re moving past that [gender] stereotype.” Source: Nansen

Sandra still observes Web2 stigmas embedded into Web3, but sees a shift away from older gender biases:

“The power dynamics are slowly changing, and I’m really glad it is. You don’t really see inequalities, at least not in my experience where I’m doing research and I think research is generally a very neutral position for any genders.”

Meet Devon Martens, principal blockchain engineer at Sweet:

Devon used to work for an education company, where she started supporting their Solidity courses. She went from supporting to teaching the program at the University of Minnesota before joining the NFT marketplace Sweet, where she writes smart contracts for some of the biggest names in the industry. 

She believes that great role models can motivate more women to pursue Web3 as a career option. Devon also sees the nascent industry as an opportunity for women seeking to change the world:

“There is so much potential, especially for women leaders looking to change the world, in this relatively new decentralized, blockchain environment. People literally teach themselves, so the barrier of a certain credential does not exist yet as it does in some other areas of tech or engineering.”

Meet Daniela Barbosa, executive director of Hyperledger Foundation:

Daniela has been into Bitcoin since its early days. In 2010, she was working on a project involving data portability in San Francisco, and many of her team members were also involved in Bitcoin projects.

“I remember the days of going on Craigslist to go find someone selling Bitcoin from their garage in Glen Park SF […] I went to a Bitcoin meetup in SF in probably 12-13 and felt completely out of place as an older female amongst a bunch of bros. Honestly, I got a bit turned off with the local scene, but not enough to not keep an eye on what was going on.”

In 2017, she found the just-launched Hyperledger project while searching for a career in enterprise blockchain technology. As a crypto early adopter, Daniela is advocating for more women to be involved in the crypto space across a variety of roles, not just as developers.

Meet Sandy Carter, chief operating officer and head of business development at Unstoppable Domains:

Sandy has been working in the tech field since the birth of Web2. Her first contact with crypto and blockchain happened while acting as a vice president at AWS. “As I researched the potential use cases of blockchain, I became more fascinated by the idea of decentralization, the notion of user ownership over data and digital property, and the community-driven decision-making process in Web3,” she recalled. 

Sandy Carter: “Without knowledge or exposure to the industry, women may lose confidence and interest in pursuing careers in the sector.” Source: Unstoppable Domains

She learned from her experience in the tech industry that the absence of diversity limits innovation and creativity, resulting in a lack of understanding of minorities’ perspectives and needs.

After joining Unstoppable Domains in 2021, she started an initiative called Unstoppable Women of Web3, which focuses on educating and training the next generation of female crypto leaders.

“Without knowledge or exposure to the industry, women may lose confidence and interest in pursuing careers in the sector.”

Meet Briana Marbury, CEO of the Interledger Foundation:

Leading the Interledger Foundation since 2020, Briana is interacting with projects from all over the world, from solutions for natural disasters to developing peering systems. Creating tools that benefit others is what motivates her in the Web3 space.

Briana Marbury: “There needs to be a lot of intention in the crypto space in shifting old tropes into new and inclusive narratives.” Source: Interledger Foundation

Briana believes that crypto firms must consider multiple viewpoints when developing their strategies and that organizations lacking a gender-balanced workforce are missing out on synergies and innovative collaborations.

“People, women especially, can often self-deselect themselves from pursuing potentially lucrative, rewarding and purposeful career pathways in crypto — or technology more broadly — because they believe ‘it’s not for people like them.’ Intentionality is key here.”

Meet Alicia Kao, managing director and head of Strategic Partner Development at KuCoin:

With a background in sociology, Alicia’s first interaction with the crypto world came in 2018 after attending a crypto conference. Upon joining KuCoin in 2019, she found male leaders who leveraged her strengths and allowed her passion to flourish.

Although she sees the crypto industry as “undoubtedly male-dominated,” Alicia also believes this reality is slowly changing:

“When builders feel valued and included as part of a team working towards a common goal, they’re more likely to take risks and come up with innovative ideas. This not only benefits the builders themselves but also helps to build public trust in the future we are building with crypto and Web3.”

Women in Web3 discuss challenges within the industry

Challenges women face within the industry include the lack of representation and toxic ”bro culture.“

The world of Web3 has opened up new opportunities for individuals to participate in a more open, transparent internet and create wealth. However, despite the potential benefits of this emerging technology, women face unique challenges in the Web3 space. From a lack of diversity in the industry to gender bias in funding, women encounter significant obstacles that can make it harder for them to thrive in the decentralized web.

To better understand these challenges, Cointelegraph interviewed several women in Web3. Devon Martens, principal blockchain engineer at Sweet NFTs, shared her observation that the crypto industry, like many other technology and financial sectors, is male-dominated. Martens noted that this lack of representation can be a barrier to entry for women who may perceive themselves as outside the norm.

Martens shared that she rarely sees women in the C-suite when looking at new Web3 companies and their management, noting:

“It is hard to pursue something as a concept and feels a little more realistic when you see people in those roles already. That is why it is so important to talk about what we can do to cultivate talent across the board, including encouraging women to get into the space.”

Similarly, Sandy Carter, chief operating officer and head of business development at Unstoppable Domains, noted that women make up only 12.7% of the Web3 workforce, highlighting the need for greater diversity within the industry. In her experience, there is a significant gender gap among those applying for jobs. Carter shared:

“When I announced I was joining Unstoppable Domains, I included a link to apply for another role at the company. Out of over 1,500 applications for that job, only 3% of the total applicants were women, and this stuck with me.”

Briana Marbury, CEO of the Interledger Foundation, discussed the issue of gender stereotypes in the crypto industry, noting that the space is often perceived as being dominated by men and characterized by a strong “bro culture” that is unwelcoming to anyone who falls outside of the “pale and male” demographic. Unfortunately, this stereotype can dissuade women from participating in the space. Marbury added: 

“People, women especially, often self-deselect themselves from pursuing potentially lucrative, rewarding and purposeful career pathways in crypto — or technology more broadly — because they believe ‘it’s not for people like them.’ Intentionality is key here. There needs to be a lot of intention in the crypto space in shifting old tropes into new and inclusive narratives.”

According to Daniela Barbosa, executive director of the Hyperledger Foundation, diversity is crucial in technology development. She stated, “Study after study reveals that diversity in technology creation produces better outcomes and more robust technologies — that diverse communities are simply stronger communities.” However, she also acknowledged that exclusionary behaviors can influence community cultures and that this is a challenge in the crypto industry.

Barbosa highlighted that the crypto industry has a significant focus on developers and finance/traders — two communities where, unfortunately, women are still underrepresented. “In crypto, I still see a lot of toxic behavior, which involves aggressive language and insinuation towards particular groups or individuals,” she shared. This toxic behavior can further discourage women from entering the industry, creating a double-whammy challenge when it comes to gender inclusivity in the blockchain and crypto space.

Related: Binance co-founder He Yi says, ‘forget gender’ and focus on mindset to make it in Web3

The lack of gender diversity in the industry is a pressing issue. As Barbosa pointed out, diversity leads to better outcomes, and the exclusion of any group can hinder progress and innovation. Creating a more inclusive culture that supports and encourages women to pursue careers in the Web3 industry is essential.

Promoting gender diversity and inclusivity in the Web3 space is needed to create a more vibrant, innovative, flourishing industry. By taking intentional steps to address the unique challenges facing women in the industry, the ecosystem can help ensure that Web3 is a space that is welcoming and accessible to all. 

Binance co-founder He Yi says, ‘forget gender’ and focus on mindset to make it in Web3

In an exclusive interview with Cointelegraph, Binance co-founder and Chief Marketing Officer He Yi explained what women need to do in order to make it in the Web3 space.

The world of crypto and decentralized technologies is no longer an internet niche, home to a few pioneers on the frontier of fintech. It is now a blossoming sector for people of all backgrounds, interests – and genders.

Women have been entering the space in droves to find financial freedom from traditional systems and help create the future of digital interactions.

In an exclusive interview with Cointelegraph Binance co-founder and Chief Marketing Officer He Yi touched on what it’s like to be a woman the head of one of the crypto industry’s biggest organizations.

Prior to her conversation with Cointelegraph He Yi tweeted that in the crypto space as we know it only “5% of founders are female” and she’s proud to be a part of that statistic.

Like many in the crypto space, He Yi came from a field outside of financial technology. She recalled her roots in television broadcasting and further explained how her family had expectations of her to become a teacher. 

However, she said once she discovered Bitcoin and the possibilities of decentralized finance, her life took a different turn.

To women who want to enter the space, but feel a sense of hesitancy due to a lack of familiarity with the space and its jargon or are afraid of a gender bias Yi says:

“Never set a limit on yourself.”

As an executive at one of crypto’s leading institutions, Yi says there are three key components women should focus on for success in the industry: mindset, growth management and decision-making. 

Particularly mindset Yi said to be assertive and achieve the goals you set out for yourself and your team, “take ownership and be a problem solver.”

“Forget your gender. Don’t focus on the fact that you’re a woman in a man’s world. Instead, focus on how to be a good business leader, regardless of being a man or woman.”

He Yi said that now at Binance, one of the crypto space’s largest entities, nearly 30% of senior leaders are women, and directly report to CZ. One of the main ways to do this is through education. 

Related: 15 influential women entrepreneurs in Web3

During the interview an employee working with Yi at Binance said that Yi has personally trained many employees, herself included.

Yi closed the interview by saying the most important thing is something for men and women to both focus on as leaders – being a leader that “understands the world and cares about the community being built.” 

Binance Charity recently announced its initiative to provide over 30,000 Web3 scholarships over the next year, some of which specifically focus on women-centered organizations in developing countries.

Binance co-founder He Yi says, ‘Forget gender’ and focus on mindset to make it in Web3

In an exclusive interview with Cointelegraph, Binance co-founder and chief marketing officer He Yi explained what women need to do in order to make it in the Web3 space.

The world of crypto and decentralized technologies is no longer an internet niche, home to a few pioneers on the frontier of fintech. It is now a blossoming sector for people of all backgrounds, interests — and genders.

Women have been entering the space in droves to find financial freedom from traditional systems and help create the future of digital interactions.

In an exclusive interview with Cointelegraph, Binance co-founder and chief marketing officer He Yi touched on what it’s like to be a woman as the head of one of the crypto industry’s biggest organizations.

Prior to her conversation with Cointelegraph, Yi tweeted that in the crypto space, as we know it, only “5% of founders are female,” and she’s proud to be a part of that statistic.

Like many in the crypto space, Yi came from a field outside of financial technology. She recalled her roots in television broadcasting and further explained how her family had expectations of her to become a teacher. 

However, she said once she discovered Bitcoin (BTC) and the possibilities of decentralized finance, her life took a different turn.

To women who want to enter the industry, but feel a sense of hesitancy due to a lack of familiarity with the space and its jargon or are afraid of a gender bias, Yi said:

“Never set a limit on yourself.”

As an executive at one of crypto’s leading institutions, Yi said there are three key components women should focus on for success in the industry: mindset, growth management and decision-making. 

Particularly mindset, Yi said to be assertive and achieve the goals you set out for yourself and your team: “Take ownership and be a problem solver.”

“Forget your gender. Don’t focus on the fact that you’re a woman in a man’s world. Instead, focus on how to be a good business leader, regardless of being a man or woman.”

Yi said that now at Binance, one of the crypto space’s largest entities, nearly 30% of senior leaders are women, and directly report to the company’s CEO, Changpeng “CZ” Zhao. One of the main ways to do this is through education. 

Related: 15 influential women entrepreneurs in Web3

During the interview, an employee working with Yi at Binance said that Yi has personally trained many employees, herself included.

Yi closed the interview by saying the most important thing is something for men and women to both focus on as leaders — being a leader who “understands the world and cares about the community being built.” 

Binance Charity has recently announced its initiative to provide over 30,000 Web3 scholarships over the next year, some of which specifically focus on women-centered organizations in developing countries.

7 ways women can earn passive income through cryptocurrency

More women are joining crypto by buying Bitcoin and other coins or tokens. Here’s how to make passive income through crypto and boost some returns.

How can women earn passive income by running a masternode?

One of the oldest and most effective ways to earn a crypto passive income is by running masternodes, contributing the computer power necessary to drive a blockchain.

A masternode is a type of full node in a blockchain network that performs additional functions beyond simply validating transactions. Masternodes typically require a significant amount of collateral in the form of the blockchain’s native cryptocurrency in order to operate, which incentivizes their owners to act in the best interest of the network.

That said, by operating a masternode, the investor will be rewarded with the blockchain’s native currency. In contrast with regular nodes, masternodes don’t add new blocks of transactions to the blockchain. Still, they verify new blocks and have unique roles in the blockchain’s governance, such as voting on changes to the ecosystem and running protocol operations.

Running a masternode requires some expertise but also a significant collateral investment. Investors should be prepared to buy a substantial stake in the native cryptocurrency, purchase more expensive computer hardware than the average laptop, and consider the running costs. 

For this reason, masternodes can be seen as a long-term investment. Running a masternode may require a substantial initial commitment, but little effort is needed to keep it running once it is in use. 

How can women make passive income from crypto lending?

Many crypto platforms offer investors the opportunity to lend the deposited crypto assets to borrowers in exchange for regular interest payments.

The interest can be paid daily, weekly or monthly in the cryptocurrency deposited for lending, and often, compound interest is provided, which includes the initial investments and the accumulated interest from the previous terms. 

Both centralized and decentralized cryptocurrency providers may offer high-interest rates, sometimes as high as 20% APY, and require the borrower to deposit collateral to secure the crypto loan. Women who are considering crypto lending should be aware of the high risks of such investments, as high rewards may disguise a broken business model. 

Platforms like Celsius or FTX used to offer high interest to their customers but went bankrupt in 2022 due to their high-risk leverage strategies.

How can women earn passive income via crypto savings accounts?

A woman with an account in a crypto exchange can earn interest on the cryptocurrency she holds on the platform through a crypto savings account.

Similar to a savings account that customers own with a traditional bank, a crypto savings account provider will lend, invest or stake crypto on behalf of the investor in exchange for a share of the profits in the form of regular interest payments.

The investor who agrees to lock up her crypto for extended periods may benefit from more favorable rates. Also, various crypto platforms encourage customers to hold their native tokens by offering higher interest rates.

However, there are risks involved, such as the volatility of cryptocurrency prices, hacking risks and platform-specific risks. Women should carefully research and assess the risks involved before investing in a crypto savings account and only invest after proper due diligence of projects under consideration.

How can women yield passive income through yield farming?

Yield farming or liquidity mining is a decentralized finance (DeFi) application requiring investors to lend crypto to others in exchange for some interest and other rewards. 

Yield farming was created to incentivize liquidity providers (LPs) to stake or lock up their crypto assets in a liquidity pool based on a smart contract. They receive rewards in the form of network fees, loan interest payments, or native digital token rewards. The lock-up time the investor requires depends on the platform, and the interest earned is calculated in annual percentage yield (APY).

The next step after selecting a platform and cryptocurrency is to add liquidity by making a deposit into the platform. Users are rewarded with extra tokens or fees in return for supplying liquidity. Likewise, it is critical to monitor your rewards from yield farming and to stay informed of any adjustments made to the platform’s reward system. 

While some platforms reward users more for supplying liquidity in a particular cryptocurrency, others reward users more for making longer-term investments. However, there are risks associated with yield farming, such as the potential loss of money due to changes in the market or flaws in the DeFi protocol. Women should use caution when investing and only risk money they can afford to lose.

Can women earn passive income via cloud mining?

Crypto cloud mining is a type of crypto mining that allows investors to earn Bitcoin and other cryptocurrencies without buying, installing or maintaining any specific hardware or software equipment. 

To start cloud mining, the investor must open an account with a legitimate mining farm, deposit digital or fiat currency funds, and purchase a certain amount of hashing power from the service provider. In exchange, the mining farm will reward participants with incentives based on the amount of hashing power they purchase.

There is no need for deep know-how or technical skills. However, it is essential to avoid severe mistakes that can be costly, such as choosing a fraudulent platform or neglecting the fine print, which may include extra costs making the investment not worthwhile. 

Regardless, with cloud mining, participants do not have to worry about machinery noise, temperature, resource management or energy costs.

How can women extend their revenue stream through affiliate marketing?

Affiliate marketing in the crypto industry can be a way for women to extend their revenue stream by promoting crypto-related products or services to their followers or audience. 

Many companies that offer crypto-related products or services have affiliate programs that allow individuals to earn commissions for promoting their products. Women can choose to promote products or services related to cryptocurrencies, such as hardware wallets, exchanges, trading platforms or educational resources.

The advantages of affiliate marketing include the possibility of using an existing audience to increase sales, the flexibility to work from anywhere and the ability to make passive income through commissions.

However, the potential for fraudulent or deceptive items, the risk of harming one’s reputation by endorsing inferior projects, and the risk of losing credibility with one’s audience if they perceive the promotion as spammy or insincere are all hazards involved with affiliate marketing.

How can women earn rewards for holding crypto via the staking mechanism?

Cryptocurrencies that operate through proof-of-stake mining offer users the opportunity to lock up one’s crypto holdings in a wallet for a certain period to obtain rewards or earn interest. 

The mechanism discussed above is called crypto staking, which helps a network become more robust and efficient because it helps validate transactions in the blockchain, confirming that all transactions achieve consensus, are honest and follow the protocol’s rules.

There’s no need for deep know-how to stake crypto, and some exchanges enable cryptocurrencies to be staked automatically by users who hold eligible tokens in their accounts. Another way of staking is by keeping the cryptocurrency in a compatible wallet that allows users to participate in the networks’ consensus processes. In short, stakers approve and verify transactions on the blockchain and are rewarded for doing so.

Are women participants in crypto increasing?

The number of women investing in cryptocurrency continues to grow rapidly every year, with one in 10 women participating in the industry, according to a 2022 survey. 

The digital era and the adoption of a new working and life model were accelerated during the pandemic, offering people the opportunity to work remotely. A work-from-home concept benefits women who traditionally undertake multiple tasks across family, career, home and child care.

Cryptocurrency investment may send women shivers down their spines; however, it may add several passive income streams, sometimes with little effort and in the comfort of their homes, maximizing returns on their crypto holdings. Finance and technology have traditionally been aligned with men’s interests and careers, but this is changing rapidly thanks to the advent of cryptocurrency.

Owning cryptocurrency may be an ideal way to invest in the long term depending on the risk-return profile of the investor. Women who’d like to invest in cryptocurrency for passive income have several options, depending on whether they have the time to learn technical skills or are ready to take risks. 

Learning about the marketplace or a crypto provider’s reputation before investing is always safe, as that will make a massive difference in the overall performance of the strategy adopted. This article highlights a few work-from-home ideas for women to put their assets to work and add extra revenue to their monthly earnings.

7 ways women can earn passive income through cryptocurrency

How blockchain empowers women in developing economies

Blockchain technology is empowering women in developing countries with financial freedom and improved access to social inclusivity and growth.

Does blockchain create career avenues for women in India?

Poised in the world market as a technology-first economy, Indian firms are rapidly investing in blockchain technologies to create new job opportunities.

Cryptocurrency exchange WazirX on March 2, 2023, published its survey of 400 female crypto holders in India and concluded an uptrend among women entering crypto investing. 

However, this uptrend is not limited solely to investing. Women in India are actively joining career opportunities in Web3, crypto and blockchain platforms as creators, builders, influencers, founders, developers and more. Blockchain-related jobs are opening new and much-needed job avenues for the young demographic in this fast-growing decentralized web world. 

EthIndia Devfolio to promote blockchain careers in India

The annual ETHWMN Fellowship in India, promoted by ETHIndia Devfolio, is an eight-week program exclusive for women to upskill Web2 developers and enable them to make the transition to Web3. Upskilling, removing barriers to entry for women, creating a more inclusive and remote first work environment are helping bring more Indian women into the blockchain workforce. 

The projects highlighted show that cryptocurrencies and blockchain technology have potential for improving financial inclusion for women globally. Access to such initiatives can raise the quality of life and expand economic opportunities for women.

Will blockchain safeguard property rights in Honduras?

Honduras, an underdeveloped country in Central America, strives to solve property rights issues in the country by using blockchain. 

The ability to prove land ownership is a crucial safeguard for those whose livelihoods depend on farming and cattle. The World Bank and other key international organizations have repeatedly underlined the need for clear property rights and improved property governance and record maintenance. 

Property rights are thus recognized as an important step toward the autonomy and development of women. Yet land registration systems are frequently unreliable and susceptible to corruption in underdeveloped nations, such as Honduras, leaving farmers, including female farmers and their families, open to unauthorized land and property rights violations. 

Factom, a U.S.-based blockchain startup, partnered with the government of Honduras to develop a blockchain land registry system. This key idea attempts to stop land title fraud and uplift the disadvantaged portion of the population. However, for various political reasons, the project has been halted, but it has the potential to bring much-needed transformation.

How does Propy empower realtors with blockchain?

Propy uses blockchain technology to simplify the real estate home purchase transaction process. It was selected as a technology pioneer by the World Economic Forum in 2021.

Propy is a Silicon Valley, blockchain-based real estate startup built on the Ethereum network by Natalia Karayaneva. Propy introduced smart contracts and automation to help brokers, agents and real estate companies migrate to a paperless deal-closing process.

The United States Bureau of Labor Statistics report on Occupational Employment and Wages from May 2021 estimated that there are 175,920 real estate agents currently employed in the United States. Interestingly, the sector is inclusive, as 65% of these real estate agents are women, many of whom are from diverse backgrounds and ethnicities, such as Hispanics, Latinos and Asians. 

Propy holds the potential to empower these female real estate agents to close deals faster, reduce fraud, and ensure transparency in property rights and title transfers. As Propy expands into developing economies, it will make real estate records on the blockchain more accessible for women globally.

How is blockchain changing the coffee supply chain in Rwanda?

The use of blockchain technology in coffee plantations has resulted in better traceability in supply chains, increasing income and empowering female farmers.

One of Rwanda’s most significant export products is coffee, which is extensively sold in Germany. Despite this, small plantation-holder families frequently struggle to make a livelihood from their coffee farming because of low yields, their inability to get a desired market price, or their inability to manage production costs. Female farmers also work extensively on these coffee plantations and are often underpaid.

The International Women’s Coffee Alliance has partnered with blockchain programs and initiatives to create scalable and transferable supply chain solutions for tracing coffee produced by Rwandan female farmers. 

This brings transparency about the origin of the coffee source to help command a better market price in the export market and ensure that the female farmers get their fair share of the revenue from the subsequent sales. 

Making supply chains more transparent in Rwanda using blockchain

The success has led to similar partnerships of farmers, plantations and coffee growth alliances with multinational conglomerates like Nestle. In 2020, Nestle started exploring the blockchain supply chain and launched a limited edition blockchain coffee beans pilot project from three origins — Brazil, Rwanda and Colombia.

Does tokenization help women to access credit?

Tokenization on the blockchain helps turn things like a house, an antique or even a farm into digital assets. This has opened new avenues for monetization in Kenyan villages. 

ATMs, banks and credit cards are financial enablers that are a seamless part of an individual’s everyday life, but for many in Kenya’s villages, this is far from reality. This is where Grassroots Economics is bringing a fresh change using blockchain and cryptocurrencies. 

Grassroots Economics, a blockchain-based initiative in Kenya supported by UNICEF’s Innovation Fund, generates opportunities for access to credit in low-income areas by creating tokens called Community Inclusion Currencies (CICs). Villagers in a harsh crisis usually do not have cash or access to liquidity or credit; however, what they do have is crops, cattle, goods or labor services. These are the resources that can be monetized via tokenization. 

CICs are tokens backed by real goods and services in a specific community, village or town, such as the work of carpenters, cooks, midwives, etc. Kenyan villagers can use the CIC tokens to secure a line of credit, backed by their own resources.

How is blockchain improving financial inclusion in African countries?

Access to high-end smartphones and fast internet is not a reality in many villages across Africa. Blockchain projects offer solutions to overcome these hardships.

Project Kotani Pay in Kenya allows users to off-ramp from crypto using a text-based platform on a basic mobile that does not require internet connectivity. Neither a bank account is mandatory since the platform functions as a decentralized, borderless application. This makes financial services offered via blockchain accessible to the unbanked population without smartphones or internet access. Kotani Pay’s pilot programs have been successful in helping 15,000 beneficiaries.

Interestingly, one of its pilot programs served a 97% female population, enabling them to receive a universal basic income of $1 a day. Per Kotani Pay, some of these women went on to spend these funds to set up small vegetable gardens or run small businesses to supplement their household incomes. 

Friendlier and easy-to-use solutions similar to Kotani Pay are also evolving in other African nations as well. Another similar initiative is Project LEAF in Rwanda. 

Project LEAF, supported by UNICEF, supports borderless international transactions on a regular phone. Many of its users are refugee women and their families from the Democratic Republic of the Congo who are now able to receive funds from families residing in other countries.

7 blockchain project ideas for women

Blockchain technology is empowering women in developing countries with financial freedom and improved access to social inclusivity and growth.

What are the challenges women face in the blockchain industry today?

While initiatives aimed at promoting gender diversity and inclusion are out there, the industry faces challenges, including a lack of female representation. Besides, full female participation in the decentralized economy may only be feasible after necessary investments in basic (digital) infrastructure have been made.

Figures suggest a significant gender gap in the blockchain industry. A study found that of the leading Web3 companies, only less than 5% were founded by women, and less than 10% of the partners at all crypto venture funds are women. Moreover, women-founded Web3 technology firms account for only 2% of venture capital funding. The results are reflected in another study showing that only 13% of Web3 founding teams include a woman, and only 3% have a team exclusively made up of women.

Several barriers contribute to the low number of women in the blockchain industry. For instance, the industry may be perceived as highly technical and intimidating to women unfamiliar with blockchain. Moreover, women may suffer from imposter syndrome or undervalue themselves by thinking they are not skilled enough to join the sector. 

It is essential to mention that, although male-dominated, the blockchain sector is highly inclusive, encouraging and friendly and offers all sorts of jobs beyond technological ones. Having said that, it is important that women always remain cautious and educate themselves on potential risks and perils when they immerse themselves in a new industry. For instance, some women have encountered unethical or criminal behavior in virtual worlds due to the anonymity and lack of oversight by law enforcement agencies. 

Educational initiatives may also spur gender diversity and female empowerment. For example, the DLT Talents Program, a free merit-based educational program operated by the Frankfurt School Blockchain Center, offers blockchain education to women worldwide. Moreover, many women are industry leaders in the rapidly evolving and expanding blockchain sector, illustrating the inclusive, horizontal and merit-based approach many blockchain companies take regarding upward mobility.

Finally, it is vital to mention that while blockchain can deliver financial empowerment, transparency and new business opportunities, blockchain technology per se is no silver bullet for all humanity’s structural issues. Practical impossibilities, such as a lack of internet-connected devices, may stand in the way of access to blockchain infrastructure, hence preventing women from entering the level playing field in the first place. And in some other cases, participating in the decentralized economy may only be possible after necessary investments in basic (digital) infrastructure have been made. 

What are some blockchain projects to spur women globally?

Blockchain projects not only create new jobs and spur female entrepreneurship but also enhance women’s rights and other opportunities depending on the specific use case of the project at hand. Projects aimed at gender-based violence prevention, financial inclusion, supply chain transparency, land ownership and women’s rights protection are all ideas to support women globally. Moreover, more holistic platforms aimed at female education and entrepreneurship may be good ways to empower women via decentralized infrastructure. 

7 blockchain project ideas for women

Preventing gender-based violence

Various blockchain project ideas for beginners may already set a woman’s personal development into motion in the most practical terms. For instance, women may consider creating blockchain-based solutions that prevent gender-based violence. Such a platform could provide a secure and anonymous channel for victims to report incidents and receive support. The platform could also provide a way for organizations and authorities to track and respond to cases in a trustless manner. 

Providing financial services and (micro) loans

A similar platform may provide women access to financial services, such as (micro) loans, insurance and wallet-based savings accounts. Microloans are essentially business loans provided through community-based solutions. They are crucial for female empowerment as women may struggle to access capital through traditional banks. 

Supply chain tracking for female-owned businesses

Worldwide, female businesses that manufacture products could benefit from a solution allowing supply chain tracking, ultimately enabling ethical and sustainable practices while offering the opportunity to support female entrepreneurs directly. By creating a blockchain-based solution that helps women-owned businesses to trace and verify the authenticity and origin of other products they use, final customers can decide to support said female business, for instance, by routing back payments to individual wallets. 

A decentralized registry for female-owned property

Another interesting blockchain project idea would be to develop a blockchain-based solution that provides secure and transparent land ownership records for women. Crucially, the platform could help women prove their ownership of land and property, which is often a challenge in many parts of the world.

Reporting and monitoring solutions for women’s rights

As a native solution or in collaboration with international institutions, such as the United Nations, one can consider developing a blockchain-based platform to protect women’s rights, such as their right to education, employment and equal pay. The platform could provide a way for women to report and track cases. Human rights officers and advocates could use a decentralized platform as a trustless repository to monitor and report on women’s rights development. 

Collaborative communities to spur education 

Other more holistic solutions for female empowerment include a blockchain-based platform that allows women to connect and collaborate, access training and showcase their professional milestones, for instance, through nonfungible tokens (NFTs). 

An investment DAO to support female entrepreneurship

Likewise, a blockchain-based investment platform, or decentralized autonomous organization (DAO), may be built to support female entrepreneurs by providing access to funding and investments, ultimately reducing the barriers to entry even further. As a decentralized organization, all investment decisions will be made through a democratic process that involves all members of the DAO. After making investments, an investment DAO can provide support to portfolio companies through mentorship, connections to investors and customers, and other resources.

Related: How to incorporate DAO and issue tokens to be ready to raise money from VCs?

Why is blockchain a great space for female entrepreneurs?

As an open and merit-based space, female entrepreneurs can also leverage the level playing field of blockchain to bring their perspectives and businesses to the table. When women use blockchain infrastructure as a new business opportunity or build new businesses on top of blockchain technology, blockchain enables growth and financial inclusion while mitigating inequality.

As a nascent industry, there are very few established norms, making the blockchain space an ideal opportunity for women entrepreneurs to enter the industry and set themselves as leaders.

Moreover, as blockchain technology is inherently decentralized, it naturally eliminates the need for intermediaries, which have historically been male-dominated. Also, blockchain challenges intermediaries and removes the requirement to use traditional gatekeepers, such as banks, other financial institutions and governmental institutions. This can lead to more diversity and inclusivity in entrepreneurship, which is often lacking in traditional finance and other verticals of technology.

Crucially, the blockchain industry offers a level playing field for women entrepreneurs. Unlike traditional industries, where women often face barriers to entry and bias, the blockchain industry is merit-based, meaning one’s skills and abilities determine success. The industry has a supportive community dedicated to diversity and inclusion. Female entrepreneurs can connect with like-minded individuals, acquire mentorship and access other resources to help them prosper.

Where women globally tap into and develop new companies and business models based on blockchain technology, access to new revenue streams directly promotes their empowerment and autonomy. In this way, women entrepreneurs can establish themselves as leaders and disruptors in the industry and in other parts of their lives. 

Related: Top 11 most influential women in tech history

Why are blockchain projects important for female empowerment?

Blockchain technology can serve as a transformative tool for empowering women in all socio-economic situations worldwide. Both current blockchain trends and future blockchain applications unveil that blockchain poses significant opportunities for women around the world.

There are many inequalities between men and women in terms of work, financial capabilities and rights. In their broadest sense, blockchain technology can empower women in their financial agency and autonomy, two tightly interlinked things. It means that when women are financially empowered, increasing their ability to decide their lives. 

Because blockchain is a gender-neutral technology, it is inclusive and offers open access to individuals worldwide, regardless of their background, identity or any other potential differentiator. All you need is internet access and a basic understanding of how to use the decentralized web, and one is good to go to engage in the global economy. Women can instantly join the industry by opting for a blockchain career at a blockchain company or tap into the many other opportunities out there — e.g., decentralized finance (DeFi). 

For instance, any woman can contribute to blockchain projects via communities. As many blockchain projects have open-source code, female developers can navigate the repositories. Women can also get engaged otherwise with Web3, for instance, by participating in a decentralized autonomous organization (DAO), running a node, mining cryptocurrencies or staking them. 

Moreover, blockchain-based payment systems can enable women in developing countries to participate in the global economy by providing them with secure, low-cost payment solutions. When women decide to trade, use or invest in cryptocurrencies or blockchain projects, they ultimately directly empower their financial capacities and agency to decide upon their own lives. 

Crucially, women all over the world are increasingly curious about crypto. This will allow them to engage with blockchain projects as well. Globally, almost half of everyone planning to purchase cryptocurrencies for the first time are women. And since economic empowerment directly facilitates social mobilization, blockchain can continue to spur women in their autonomy and agency. Eventually, holistic progress in all other parts of life and the economy can be made when more women tap into blockchain and develop new Web3 project ideas.

In(direct) female empowerment via blockchain technology

Women who made a contribution to the crypto industry in 2022

2022 saw greater inclusivity and participation of women in the crypto and blockchain industries.

2022 saw the continued rise of disruptive blockchain-centric concepts such as decentralized finance, GameFi, nonfungible tokens and Web3. Notably, some of the related projects that thrived in 2022 were headed by women, which is a good indicator of progress in an otherwise male-dominated sector. 

The increased involvement of women in the cryptocurrency field signals growing inclusivity and maturation of the sector, which encourages diversity and the embrace of ideas that resonate more with underrepresented subsets of the population.

That said, a group of eminent women reached unprecedented levels of accomplishment in the blockchain and cryptocurrency industries in 2022 due to their ambition, innovation, leadership skills and dedication.

Cointelegraph had the chance to speak with Nodira Sadikova, a venture capitalist and mergers and acquisitions adviser in Web3. She affirmed this positive development while noting that there was a new category of women under 30 who were making an impact in the industry.

“We can see the rising rate of bright and talented women under 30, such as Nastya Moroz (crypto trading and investment courses exclusively for women), Daria Lomova (art adviser and curator of digital art exhibitions), Stella Friaisse (crypto podcaster and event organizer) and many more,” Sadikova said, adding:

“This army of extremely bold personalities changed the market and generated new trends and opportunities for women who did not have the courage to step into the crypto industry.”

The following is an outline of the women who made waves in the crypto industry in 2022.

Elizabeth Stark

Elizabeth Stark is a co-founder and the CEO of Lightning Labs and is one of the earliest supporters of blockchain scaling solutions. Her firm, Lightning Labs, specializes in the development of Lightning Network (LN) products that enable users to transact Bitcoin (BTC) more efficiently. The Lightning Network is a layer-2 scaling solution that allows users to transact BTC quickly and at a lower cost than transacting on the primary chain.

Her firm offers a series of auxiliary services mostly related to the Lightning Network that include high-volume micropayment services. It achieves this by leveraging a bidirectional micropayment channeling process that allows transactions to be processed at a faster rate, which helps to reduce transaction fees.

Apart from being a blockchain company head, Stark is also a fellow at Coin Center, a leading nonprofit that engages in cryptocurrency policy issues. She additionally serves as an adviser at Chia, a blockchain company that operates a unique crypto-mining protocol whose mechanism is based on the proof of time and space concepts. The algorithmic consensus system allows users to store random numbers on their digital storage space, for example on their hard disk drives or solid-state drives.

Users with considerable storage space have higher chances of getting a reward. The concept is revolutionary in that it’s not performance-oriented or compute-intensive and just relies on numerical queries being sent out. Consequently, the network’s energy consumption rate is hundreds of times lower than typical proof-of-work systems like the Bitcoin network.

Before becoming a crypto entrepreneur, Stark was a lecturer at the Stanford and Yale universities, where she taught students about peer-to-peer networks.

Notably, the Lightning Network infrastructure developed by her enterprise was adapted for a wide array of uses in 2022, which include transcontinental support for Bitcoin-to-fiat transactions.

Kathleen Breitman

Kathleen Breitman is the co-founder and CEO of Dynamic Ledger Solutions and is a Cornell University graduate.

Dynamic Ledger Solutions is the developer behind the Tezos proof-of-stake blockchain protocol. Tezos was designed to address many of the shortcomings afflicting Bitcoin and other early cryptocurrency networks, such as limited scaling capabilities and high gas fees. Its native token, XTZ, is currently among the top 50 most popular cryptocurrencies in the world, with a market cap of over $700 million.

Prior to her crypto involvement, Breitman worked as a senior strategy associate at R3, a leading financial services firm. She also held top positions in some notable companies, such as Bridgewater Associates, Accenture and The Wall Street Journal.

2022 was a challenging year for her company, Tezos, due to the crypto market implosion that saw many cryptocurrencies nosedive due to negative investor sentiment. However, Breitman and her team are credited for making a series of insightful, strategic decisions that are set to position the company for success over the long term.

One of them was the listing of XTZ on Coinbase Japan in December 2022, which is expected to increase XTZ’s usage in the burgeoning Asian market.

Meltem Demirors

Meltem Demirors is the chief strategy officer at CoinShares, a leading digital asset investment firm that manages over $4 billion in investor assets. The CoinShares Group strives to lower the barriers of entry for investors looking to invest in digital assets.

Demirors oversees the firm’s day-to-day operations at its New York office. She is also a CoinShares board director, a position that allows her to lead the company’s venture strategy. Before joining CoinShares, Demirors held the vice president position at Digital Currency Group, a crypto venture capital firm whose subsidiaries include Foundry, Grayscale Investments and Luno.

She is acknowledged for contributing to her company’s growth over the years as its chief strategy officer. Her firm’s exchange-traded products’ assets under management (AUM) grew to $4.13 billion in 2022 as of 31 March 2022 from $2.67 billion AUM reached in June 2021.

Neha Narula

Neha Narula is the director of the Digital Currency Initiative, an MIT Media Lab research community focused on blockchain technology. While completing a computer science Ph.D. at the Massachusetts Institute of Technology, she built some scalable blockchain solutions and databases that earned her recognition in the field.

Due to her blockchain-centric endeavors and her involvement in championing the adoption of blockchain and innovative crypto payment systems, she has amassed tens of thousands of followers over the years and become a respected speaker in matters pertaining to decentralized technologies.

Narula’s articulate communication skills, especially when it comes to explaining complex crypto and blockchain concepts, have enabled her to speak to key audiences, including United States policymakers.

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She has in the past been called upon to help U.S. senators understand how digital currencies work and why they should look into central bank digital currencies (CBDCs). She is currently working with numerous financial institutions to create digital currencies and evaluate their impact and practicality for everyday use. Among them is the Federal Reserve Bank of Boston.

Perianne Boring

Perianne Boring has a bachelor’s degree in business administration from the University of Florida. She founded the Chamber of Digital Commerce, which is the world’s largest trade association that caters specifically to the blockchain industry. The chamber’s mission is to promote the adoption of blockchain-based technologies and digital currencies. The organization works to create an environment that fosters the growth of the industry, investment and innovation.

Boring regularly appears on financial media platforms to discuss digital currency and blockchain topics. Prior to her involvement in the cryptocurrency industry, she served as a television anchor for Prime Interest, an international finance program that reached over 600 million viewers.

In 2022, she was vocal on cryptocurrency and blockchain adoption and spoke against a series of discriminatory policies, including the recent crypto mining embargo imposed by the state of New York.

Amber Baldet

Amber Baldet is a co-founder and the CEO of Clovyr, a blockchain firm dedicated to developing versatile tools that can be used to enhance the usability of decentralized applications.

Baldet is also a board member of the Zcash Foundation, a charity organization that develops privacy-focused blockchain infrastructure. The foundation primarily caters to users of the Zcash crypto network.

Before starting her own blockchain enterprise, Baldet worked at JPMorgan where she oversaw the development of the company’s blockchain system dubbed Quorum. She left JP Morgan in 2018 to start Clovyr, which she co-founded with Patrick Nielson, who also worked on the Quorum project as a lead developer.

From strength to strength 

The increased participation of women in the crypto industry is important, as it improves inclusivity and diversity in the sector. Furthermore, the huge potential of the blockchain and crypto markets presents unique opportunities that empower women.

Related: The 5 most important regulatory developments for crypto in 2022

In 2022, a clique of resolute women made their mark on the sector and led the charge in augmenting women’s position in the crypto sphere. The trend is likely to encourage more women to join the crypto movement and change the narrative that paints the industry as male-dominated.