Should women be interested in cryptocurrencies?


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

Women are not very present in crypto currencies like bitcoin. They are known for being risk averse. However, France has adopted a new legislative framework that could encourage them to do so.

Summary:

  • bitcoin and cryptocurrencies

  • A New Legal Framework for Cryptocurrency Investment

  • Crypto Currency: 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 appeared in recent years are bitcoin and more broadly crypto assets, also known as “crypto-currencies”. These can be used as transaction currencies, but also, given their long-term growth, as an investment vehicle.

However, these assets are extremely volatile. For example, the price of bitcoin, after a sharp rise until the end of 2017, fell sharply in 2018 and then recovered in 2019. It then fell sharply in parallel with other assets during the health crisis, only to recover afterwards. In May 2022, it fell back below the $30,000 mark, down 57% from its all-time high in November 2021. So the risks weighing on these assets are driving the most cautious investors away, especially women. . † Especially since some transaction platforms are pure and simple fraud.

A New Legal Framework for Cryptocurrency Investment

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, which until now has not really been interested in this type of instrument.

For example, the legal framework was amended in 2018 via the Pacte Act, the various texts on cryptocurrencies were published at the end of 2019. In its reform, the legislator wanted to give itself the means to sort out the actors. Therefore, a specific regime has been put in place for these digital asset providers (PSAN). Henceforth, a PSAN must be registered with the Autorité des marchés financiers (AMF) in order to provide the services of custody, purchase, sale, exchange of crypto currencies and operation of a cryptocurrency trading platform in France. Otherwise, these players are likely to appear on the AMF’s blacklists. The AMF regularly warns about the many scams in this area and recalls the existence on its site of a whitelist of PSANs to consult before investing.

Crypto Currency: Possible Purchases Directly or Through Funds

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

These assets can be used in the context of mutual funds alongside traditional assets or in funds specializing in cryptocurrencies. The latter provides exposure to the long-term upside potential of these assets.

Make a date in an investment for the future

These changes are especially important because people, especially women who are not yet familiar with these types of instruments, can become interested in them.

It is indeed possible to invest small amounts in cryptocurrencies or in a specialized fund. In addition to the long-term financial importance of these investments, it should be noted that they are highly volatile in the short term. They also provide a better understanding of the issues associated with digital development.

Bitcoin is part of one of the great innovations of recent years, namely the blockchain (a new technique for storing and transporting information). This tends to invade many areas of everyday life that affect everyone.

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