Women Working in the Crypto Industry: Challenges
Crypto is now, sadly, synonymous with volatility, get-rich-quick promises, speculation, and, above all, questionable business practices. Which is fair, but not the whole picture for those who really work in the field. It is indeed challenging to stay afloat in a crypto market now increasingly crowded by scammers when you are trying to legitimately stay on course
It is doubly hard when you are a woman. Why? Well, sadly, women are still seen as underperformers and unreliable first-base contacts compared to men when it comes to crypto topics. We have to work harder to be taken seriously. And I should know! Not only am I a woman, but my work also has much to do with crypto. I mean, I’ve been working at WEBSA LTD for years now, covering crypto-related content. And the reality for women in crypto is daunting, to say the least.
Women Are Not Taken As Seriously As Men
I don’t want to make generalizations, but I can actually show you what I’ve experienced. Writing about crypto-related topics, I need to contact many people in my line of work for data. What usually happens is I reach out via email or DM people on their social accounts.
Roughly half the time, I don’t even get a response. What I end up doing is asking a male colleague to send the exact same message using their account. And no surprise there, they almost always get to hear back from the people we contacted. Eventually, they need to circle back and continue the conversation with me, which is always awkward as they realize they’ve ghosted me a week ago, for instance.
When I do get a response to my queries, there are two common scenarios. One, the collaboration goes great. I get the data I need and answers to all my questions in a timely manner. This is every professional’s dream come true.
Two, I get condescending remarks, jokes, and inappropriate behavior on the other end. Mostly done by men. And, I’m purely speculating now, but I think it’s got to do with my gender.
And look, I’m not trying to say that every unanswered email is sexism. That would be ridiculous. And I also don’t expect anyone to respond to me just because I’m a woman.
What I do expect is a response, as I’m a professional reaching out with a legitimate question. Plus, when the exact same message gets a response simply because it comes from a male account, it becomes difficult not to see a pattern. And that, unfortunately, is something women working in crypto still have to deal with.
Women Have To Work Twice As Hard To Build Authority In Crypto
So, let me put it simply – being a woman in crypto means proving yourself twice. And I want to be 100% clear here: mostly, it’s not even the men’s fault. It is purely self-sabotaging on our part. Women still tend to underestimate their expertise and lack the confidence to quickly build their authority. Imposter syndrome? I think we, women, coined that phrase; we live it; we survive it!
And mostly, it is platitudes like “Fake it till you make it” that still pass as normal advice from one woman to another that got us where we are today. My advice? Instead of pretending to have the confidence of a mediocre white male, just own your accomplishments with your chin held up. Crypto is complicated enough. So even the fact that you are involved in the business in some way speaks volumes.
The truth is, you don’t need to know everything in crypto to have authority. You just need to know what you already do, be honest about what you don’t, and stop apologizing or making yourself small for taking up space at the table.
My Take: Things Are Looking Up For Women In Crypto
I’ve always been a glass-half-full kind of girl, so despite everything I’ve said so far, I’m far from being pessimistic. Here are some facts that women in crypto (men in crypto, too) should not forget. Women are already carving out their place in the crypto world by:
- Building businesses: take Elizabeth Stark, CEO of Lightning Labs, for example.
- Leading teams: I consider Cathie Wood a true leader at ARK Invest.
- Creating content: a woman I admire and look up to is Laura Shin, who is an independent crypto journalist and podcast host.
- Regulating the market: the perfect example is Caitlin Long, who has become a prominent voice on Bitcoin and crypto regulation.
And even though women’s voices are slowly becoming heard, we still have a long way to go. And perhaps the biggest change starts here. We need to stop waiting to be taken seriously and start acting like we already belong.
Actually, I can see this trend picking up in recent months. Which is commendable. Of course, there’s much to do in the foreseeable future, and the media is maybe the right outlet to enable the change happening faster.
Publications that cover money-related topics, including crypto, should give women authors a fair chance. That’s one way MoneyInc can give to the cause and set a good example overall.
What I’d Like To See Change Soon
Don’t get me wrong. There is already a lot of headway, but progress can happen faster. I don’t think creating a special lane for women in crypto is a solution, honestly. We just require a level playing field. And the same baseline.
If my work is good, judge it on that alone. If my questions are relevant, answer them. If they’re not, ask for clarification. If I make a mistake, call me out on it. That is how professional relationships work.
But, please, stop treating our gender as a reason enough to underestimate us. But the more women who stay, speak up, build businesses, write, lead, and challenge the status quo, the harder it becomes to pretend we don’t belong here.
