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Crypto ownership among Norwegian women is doubling, reflecting global trends

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The number of women in Norway owning some form of cryptocurrency has doubled in 2021, according to a new survey.

The survey, conducted by Arcane Research and Ernst & Young, found that the share of women in crypto assets in Norway increased from 3% in early 2021 to 6% by March 30 this year. The online survey surveyed 1000 Norwegians aged 15+ and was conducted in cooperation with NORSTAT, one of the leading data collectors for market research services in Northern Europe.

Almost two-thirds of all female respondents said they bought cryptocurrency for the first time in 2021. By the time this latest survey was conducted, the gender gap in Norwegian crypto ownership had widened, with female ownership holding steady at 3% from 2019 to early 2021. During the same period, male ownership increased from 6% in 2019 to 14% per year 2022.

The survey also found that overall, about 10% of Norway’s population — which would equate to 420,000 people — now owns some type of cryptocurrency, doubling total Norwegian crypto ownership since 2018.

Norway isn’t the only country seeing increasing female participation in cryptocurrencies — Cointelegraph reported in December that a study by Australia-based cryptocurrency exchange Independent Reserve found that the number of Australian women investing in crypto has increased by 10% also doubled in 2020, to 20% by the end of 2021.

A 2022 survey in Turkey published by KuCoin in March found a more even distribution between male and female crypto users in the country, with women accounting for almost half (47%) of all crypto investors and 63% of “crypto curious” make out ” demographic.

While the trend towards more equitable participation in crypto looks positive, there are still significant gaps in certain areas of the cryptocurrency industry. In the NFT sector, female creatives account for just 5% of all sales in the overall market.

Related: The Sandbox partners with World of Women to advance women’s education and mentoring

Total global crypto ownership continues to grow. According to a survey released by KuCoin last week, around half of the German population has said they are ready to invest in crypto, with women making up 53% of them.

As reported by coin telegraphExplained Florian Döhnert-Breyer, Managing Director of German crypto fund F5 Crypto that Germany will be seen as a role model for the broader adoption of crypto investing: “As the largest country in the EU with a notoriously risk-averse Germany comes a special role.”

“The high number of women interested in crypto is particularly encouraging, as this target group is on average less active in the financial market (e.g. stock exchange)”.

2019 research by Grayscale shows that women tend to be more risk-averse investors, a reason often cited as a partial explanation for the gender gap between the number of female and male crypto investors.