Should women be interested in cryptocurrencies?


Women are not very present in cryptocurrencies like bitcoin photo credit: Elnur / Shutterstock / Elnur

Women are not very present in cryptocurrencies like bitcoin. They are known to be risk averse. However, France has adopted a new regulatory framework that can encourage them to do so.

Summary:

  • bitcoin and cryptocurrencies

  • A new regulatory framework for investments in cryptocurrencies

  • Cryptocurrencies: possible purchases directly or through funds

  • Make a date in an investment for the future

Bitcoin and cryptocurrencies

Among the new financial instruments that have emerged in recent years are bitcoin and more generally crypto-assets, also called “crypto-currencies”. These can be used as transaction currencies and also, given their increase over a long period of time, as investment instruments.

However, these assets are extremely volatile. After a sharp rise until the end of 2017, the price of bitcoin thus fell sharply in 2018, before recovering in 2019. It then fell sharply at the same time as the other assets during the health crisis, before recovering. In May 2022, it fell back below the $ 30,000 limit, a decrease of 57% compared to its record high level, reached in November 2021. The risks that weigh on these assets thus keep the most cautious investors away, and especially women. . Especially since some transaction platforms are sheer scams.

A new regulatory framework for investments in cryptocurrencies

In order to develop the use and investment in cryptocurrency, it is necessary to be able to convince a wider audience and in particular a female audience that has not been really interested in this type of instrument until now.

The regulatory framework was thus changed in 2018 through the Covenant Act, as the various texts on cryptocurrencies have been published at the end of 2019. The legislature has wanted to give itself the means in its reform to sort the actors out. Thus, a specific scheme has been introduced for these digital asset providers (PSANs). From now on, a PSAN must be registered with the Financial Markets Authority (AMF) in order to offer the services deposit, purchase, sale, exchange of cryptocurrencies and operation of a cryptocurrency trading platform in France. Otherwise, these players are likely to appear on AMF’s blacklists. AMF regularly warns of the many scams in this area and reminds that on its website there is a white list of PSANs that need to be consulted before investing.

Cryptocurrencies: possible purchases directly or through funds

Thanks to these approvals, the transaction platforms, but also the players holding these currencies or the investment funds, will be subject to rules similar to those of the other players on currency and in traditional investments.

These assets can be used in mutual funds along with traditional assets or in funds that specialize in cryptocurrencies. The latter will provide exposure to the long-term upside potential of these assets.

Make a date in an investment for the future

These changes are particularly important because they will enable people, and especially women who are still unfamiliar with this type of instrument, to start taking an interest in them.

It is actually possible to invest small amounts in cryptocurrencies or in a specialized fund. In addition to the economic interest of these investments in the long run, it should be noted that in the short run they are very volatile. They also provide a better understanding of the issues associated with digital development.

Bitcoin is part of one of the major innovations of recent years, namely blockchain (a new technique for storing and transporting information). This tends to impose on very many sectors of daily life which pertain to all.

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