Because of enhanced knowledge about virtual currency investment in general, women in Malaysia are increasingly interested in the cryptocurrencies sector. Luno Malaysia, the nation’s first technology platform exchange authorized by the Stock Exchange, announced that 20% of all its customer base is female, up from 12% in 2019, and that those than 60% of the population would be between the ages of 30 and 39. Furthermore, Bitcoin is preferred by 56 percent of such women participants.
According to Scarlett Chai, Luno Malaysia’s marketing and alliances chief, female users’ average order amount has risen from 6% to 15% of total monthly transactions, showing a promising development in a quantitative determination by the female population in Malaysia. This also demonstrates that cryptocurrency is a widely agreed and well-established investment management choice, especially among women. “When I value anything and am willing to throw my resources into it, it demonstrates that I genuinely believe in it and that it isn’t as frightening and complex as it is turned out to be,” she says.
According to Chai, women are more cautious consumers and are more cautious when assessing risk; however, this does not imply they are not violent investors. In reality, she claims that women on Luno’s site are more competitive in digital content, with a few becoming successful traders. However, the truth remains that many women are hesitant consumers who are unaware that engaging in digital content may be one path to gain financial freedom.
“Financial education in the nation is relatively poor, and women prefer to put off reading about cryptocurrency because it appears to be a complicated subject, so they avoid it. Some women are still unfamiliar with the idea, and we still have a long way to go in terms of raising consciousness regarding cryptocurrency investing,” Chai says.
Ninety-six percent of female Luno consumers in Malaysia purchase digital currencies as savings. Women choose Ethereum (22 percent), Ripple (16 percent), and Litecoin (16 percent) among the other cryptocurrency provided by Luno (6 percent).
This, according to Chai, demonstrates that women prefer more developed cryptocurrencies since they perceive them to be safer. This reflects their aversion to taking risks on their investments. The “buy and hold” option on Luno, which uses a dollar-cost average approach, enables users to spend a certain sum over time. Users may save and keep for long-term investment or cash out anytime they like with this risk-averse feature.
The Aim to Educate People About Money
Malaysians have a low level of financial literacy, especially when it comes to digital assets, including cryptocurrencies. Luno Malaysia, according to Chai, is actively branching out to content producers and marketers to mentoring programs on cryptocurrency investment, particularly because Bitcoin has been making news in recent months. According to Chai, informing women is a little more niche, and Luno is also looking for the right designers to partner with because few girls’ marketers may want to chat about investing and money management. This is a crucial part of Luno’s campaign to target women since they are more likely to make choices dependent on feedback and ratings.
“Women like to look for feedback before making that choice, including when it came to finding a restaurant or making a personal choice such as purchasing clothing. As a result, we’re committed to seeking the best independent third-party designer for whom we will work and create material that is relatable to women.”
The Bottom Line
The percentage of citizens that possess bitcoin is less than 2% worldwide. Cryptocurrency, according to Chai, is only in its early stages, but someone who participates in it is called a visionary or early adopter. Because the cost of one bitcoin is much more than RM200,000, there is already a misunderstanding that the cryptocurrency trading ship has sailed. Certain people are unaware that they can participate in a small chunk of one. With that in view, she advises women to take advantage of the ability to inform themselves about cryptocurrency, engage in them, and avoid being threatened by them. “Because we’re only in the early stages internationally, it is not too soon to even get moving.
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