Luno, the digital asset exchange platform in Malaysia has revealed a positive rise in female users on the platform from 12 percent to an average of 20 percent since its relaunch in 2019.
According to Luno, 96 percent of female users buy cryptocurrencies for investment purposes. The volume of its female users has increased from an average of 6 percent to 15 percent per month.
“It is encouraging to see so many Malaysian women exploring the world of cryptocurrency. Most of them are looking at cryptocurrency’s capability to help them achieve financial independence,” Scarlett Chai, Luno Malaysia Marketing and Partnerships Lead said during a virtual media session on cryptocurrency for women hosted by Luno.
Bitcoin (BTC) is the most preferred cryptocurrency at 56 percent due to its popularity as an alternative store of value. The majority of transactional activities came from female users between the age of 30 to 39 years old (more than 60 percent) followed by 50-59 years old (13 percent) and 40-49 years old (12.4 percent).
The female users are from diverse career backgrounds including education, accounting, and healthcare.
As for the other cryptocurrencies offered by Luno, Ethereum (ETH) stands at 22 percent, Ripple (XRP) at 16 percent and Litecoin (LTC) at six percent. This data is based on Luno’s female user activity from the past six months.
Suraya Zainuddin, Personal Finance Blogger during the session said digital investments encourages individuals like herself to invest responsibly and manage their investment allocation.
“The fact that the bitcoin concept is diverted from the traditional investment model made me feel more secure knowing this mechanism is not controlled by any authority. Bitcoin is a completely separate entity, remote-friendly and tech-powered. That’s the fascinating aspect of it,” she said.
Meanwhile, Suyin Ong, a Personal Finance Youtuber also shared ways to attract more women into this exciting journey. “We need to represent a diverse range of investors from newbie to veteran, as well as from the non-tech background. This is so that people won’t feel overwhelmed to start and understand they don’t need advanced knowledge in technology to embark into this journey.”
“There is massive readily information available out there which gets people be more receptive to bitcoin. Regulated platforms like Luno also makes them more confident to add digital investment into their portfolio,” Suyin added.
Moving forward, Luno is planning to host more women-focused talks on cryptocurrency and personal finance by working with personal finance groups and independent content creators.
“At Luno Malaysia, we are proud to have 38 percent of our team made up of inspiring women. This shows that women are open to joining these exciting and fast-growing industries. We are playing an important role in developing them to leverage a positive impact on society,” Scarlett concluded.