Young Women Tell Why They Invest In Cryptocurrency

Cryptocurrency: HODL” or “Buy the dip”: If you’re on Twitter, you’re bound to have stumble across one of these catchphrases sooner or later while scrolling, probably together with the rocket emoji. And depending on how familiar you are with cryptocurrency, you probably had a particular reaction: either you knew what it was about right away – or you didn’t have the slightest idea. However, the number of crypto boom initiates is growing every day.

But cryptocurrency Is Now So Much More Than Just Bitcoin

And the days when you had doubts about whether an investment in an exclusively digital currency could be worthwhile will long go. In fact, over the past year, perhaps fueled by lockdown-induced boredom, cryptocurrencies have become a passionate, maybe even lucrative, hobby for many youngsters.

As Already Mentioned, Bitcoin Is No Longer The Only Option

There are now numerous cryptocurrencies to choose from, such as the popular Ethereum, the meme-friendly Dogecoin, and the less volatile Tether. Moreover, digital money is catching on: According to studies, more people than ever are interest in investing in cryptocurrencies, and of crypto holders, over 94 per cent are Millennials or Gen Z.

And It’s Not Just Men, As Is Often Assume

As crypto moves into the mainstream and prices for currencies like bitcoin continue to reach dizzying heights, more and more young women are discovering crypto’s benefits. Some crypto trading apps are noticing an increase in female users on their platforms – such as social trading firm eToro, whose female user share has increased by around half in the last two years and is now around 20 per cent.

When I Started Investing In cryptocurrency

My goal was financial independence,” says Kimberly Phan, 28, who discovered the crypto market in 2020. “It meant I had to put enough money into crypto to make a profit that I could then invest in other stocks.” She says bitcoin was her “serious” investment; the money she put into the fun currency, Dogecoin was more for fun.

“I bought Doge because I could trade the currency without involving a bank and immediately send it to other people over the Internet,” explains Kimberly. After just a few months, she built up a 2,000% profit margin and paid off a large chunk of her student debt.

Illustration Of A Woman Running Through A Storm Of Coins

“HODL” or “Buy the dip”: If you’re on Twitter, you have to stumble across one of these catchphrases sooner or later while scrolling, probably together with the rocket emoji. And depending on how familiar you are with cryptocurrency, you probably had a particular reaction: either you knew what it was about right away – or you didn’t have the slightest idea. However, the number of crypto boom initiates is growing every day.

But crypto is now so much more than just Bitcoin, and the days when you had doubts about whether an investment in an exclusively digital currency could be worthwhile will long go. In fact, over the past year, perhaps fueled by lockdown-induced boredom, cryptocurrencies have become a passionate, maybe even lucrative, hobby for many youngsters.

Although I’m not putting much money into it, crypto is helping me save more. This is much better than saving an unstable currency likely to depreciate.