Decentralized finance (DeFi) has the potential to increase women financial inclusion, who are frequently excluded from traditional financial systems. According to a report by the World Bank, women are nearly 10% less likely than men to have a bank account, and in certain regions, the gender gap is even greater.
During the pandemic, the digital era and the adoption of a new working and lifestyle model accelerated, allowing individuals to work remotely. A work-from-home concept is advantageous for women who traditionally juggle multiple responsibilities, including family, career, home, and child care.
5 ways women can earn in the crypto industry
Trading cryptocurrencies is one of the most popular ways to earn money in the crypto industry. Women can trade digital currencies on various crypto exchanges and make a profit by buying low and selling high. However, it’s essential to note that trading is a highly speculative activity that requires knowledge, experience, and skill to succeed. Women can start by educating themselves about cryptocurrencies, technical analysis, and trading strategies.
Cryptocurrency mining involves using computer hardware to solve complex mathematical algorithms to validate transactions and secure the blockchain network. Women can participate in mining by setting up mining rigs or joining mining pools. However, mining requires a significant investment in hardware and energy costs, so it’s essential to do thorough research and calculate profitability before investing.
The crypto industry has opened up new opportunities for freelancers, including writers, developers, designers, and marketers. Women can offer their skills and services to various crypto projects, startups, and companies that require their expertise. Freelancing platforms such as Upwork, Fiverr, and CryptoJobsList offer opportunities for women to find freelance work in the crypto industry.
Staking is a process where individuals hold cryptocurrencies in a wallet to support the blockchain network’s security and earn rewards. Women can participate in staking by holding cryptocurrencies in their wallets and staking them on a platform that supports staking. However, it’s important to note that staking requires a minimum amount of cryptocurrency, and the rewards may vary depending on the platform.
Women can invest in cryptocurrencies by buying and holding digital currencies for the long term. Investing in cryptocurrencies requires a significant amount of research, analysis, and risk management. Women can learn about cryptocurrencies, market trends, and investment strategies.
Women in the crypto space
In honor of International Women’s Day, listed below are some influential women entrepreneurs in Web3, along with their contributions and accomplishments. The use of cryptocurrency and digital finance tools can aid in overcoming financial barriers.
For instance, they can facilitate international transactions without intermediaries or conventional banking systems. This is especially advantageous for women in developing nations who may not have access to conventional financial institutions. Some of the women in the DeFi in the crypto space include:
1. Cathie Wood
Cathie Wood is an American entrepreneur and the founder of the global asset management firm ARK Invest, which specializes in disruptive technology companies. These technologies include blockchain and cryptocurrency-related technologies. Wood is recognized for her innovative investment strategies and forward-thinking approach to disruptive technologies.
Wood was named CEO of the Year at the 2021 Markets Choice Awards and is a frequent commentator on financial and technological matters.
2. Yi He
He Yi is an entrepreneur and co-founder of one of the largest cryptocurrency exchanges in the world, Binance. She was instrumental in Binance‘s early growth, contributing to the exchange’s brand development and user expansion. In 2022, she also became the director of Binance Labs. Yi was previously the director of marketing at OKCoin, another cryptocurrency exchange.
She was included on Forbes’ list of Asia’s 30 Under 30 in 2019 for her work in the blockchain industry, for which she received recognition. In addition to her work at Binance, He Yi founded Binance Charity, a nonprofit organization that uses blockchain technology to support global charitable causes. Changpeng Zhao (CZ) has shown support and appreciation to Ye on the ground of what Binance is today.
Women have flocked to the space to find financial independence from traditional systems and to contribute to the development of the future of digital interactions. He Yi tweeted that only 5% of crypto industry founders are women, and she is proud to be a part of that statistic. She has urged women to disregard gender and concentrate on Web3.
3. Nicole Muniz
Nicole Muniz is the founder and chief executive officer of Yuga Labs, the company responsible for the popular Bored Ape Yacht Club nonfungible token (NFT) collection. She has experience in advertising and marketing, having worked as a producer at J. Walter Thompson and as an account manager at B-Reel, where she oversaw the Google account.
Muniz is well-known for her expertise in creative marketing and brand strategy, which has helped Yuga Labs grow and become a leader in the NFT industry. Her contributions to Web3 have shaped the future of blockchain-based digital art and collectibles.
4. Brittany Kaiser
Former Cambridge Analytica employee turned whistleblower Brittany Kaiser is a prominent figure in data privacy and political campaigning. She rose to prominence while working for Cambridge Analytica, the political consulting firm at the center of the 2016 U.S. presidential election’s controversial data collection.
After leaving Cambridge Analytica, Kaiser became a supporter of data privacy and transparency in political campaigns. She has spoken at numerous international conferences and events and testified before the British Parliament regarding the Cambridge Analytica scandal. Kaiser established the Digital Asset Trade Association, a non-profit organization committed to enhancing data rights and promoting the ethical use of data in the digital age.
She is also the author of the book Targeted: My Inside Story of Cambridge Analytica and How Trump Won. She is the co-founder of the Own Your Data Foundation, which advocates for citizens to reclaim their data, and the author of the book Targeted: My Inside Story of Cambridge Analytica and How Trump Won.
5. Caitlin Long
Caitlin Long is a well-known entrepreneur, attorney, and blockchain advocate recognized for her contributions to the cryptocurrency and blockchain industries. She is the founder and chief executive officer of Custodia Bank, a Wyoming-based digital asset bank whose mission is to serve the cryptocurrency industry.
Previously, Long was the chairman and president of Symbiont, a smart contract platform that specializes in smart securities. She has also held various Wall Street positions, including managing director at Morgan Stanley and head of the corporate strategy at Credit Suisse.
Here are other women winning in different spectrums in the world: Happy International Womens Day 2023: