Cryptocurrencies are a new kind of currency that doesn’t rely on third parties like banks, making it easier to transfer money without paying high fees or waiting for bank approval. This can be a lifesaver for women living in countries where financial systems are collapsed or rigged.
But even in countries where crypto has been embraced, there’s still a lot of work to be done to make it more inclusive. That’s why a growing number of women are working to bring this emerging field into the mainstream.
Nonfungible tokens (NFTs)
Non-fungible tokens (NFTs) are digital representations of a variety of assets. They can include digital art, sports memorabilia, plane tickets, and other items.
They are built on a blockchain and have a unique identity that proves who owns the asset. This can help businesses and individuals buy and sell items in a marketplace.
NFTs can also be used to create scarcity and make certain things more difficult to acquire – just like a ticket to a concert. The creator of an NFT decides how many replicas to mint, and they can be minted in small numbers or in large numbers.
For example, the music band Kings of Leon created an NFT that automatically pays them a royalty each time the token is sold on a platform, helping them raise two million USD in just one day. Alternatively, utility NFTs are being used to give users access to virtual objects in video games.
Whether your child is interested in crypto for the long term or just to learn about the financial markets, investing in crypto can be an excellent way to teach kids about money. However, it is important to make sure that they understand the risks associated with this investment.
The first step is to help them set up a custodial account in their name through an online brokerage. They will then be able to fund their crypto investments using cash or other assets.
It is also a good idea to invest in crypto through an Exchange-Traded Fund (ETF), which is similar to mutual funds but allows you to diversify your investments by holding a basket of different types of companies.
Many girls are drawn to crypto for its potential to boost their portfolios in the future. It is important to remember that past performance is no indicator of future returns, so it is essential that your child diversify their crypto investments as much as possible before investing any real money.
Blockchain technology will be used to improve educational systems, including improving record keeping and sharing, simplifying the hiring process, promoting data security, and giving students lifetime ownership of their academic records. These improvements will allow universities to better manage and scale their operations, reducing costs and optimizing resources.
Using blockchain to teach girls could change their lives for the better by giving them new skills and knowledge that will help them overcome barriers to education and become future leaders.
Cryptocurrencies are an important tool for this because they can provide an alternative way to fund their education. For example, WONDER Foundation (WONDER), a nonprofit that supports women and their communities through education, has been mining Electroneum since 2018 to raise funds.
Bitcoin has made it possible for WAF to pay its users, who include schoolgirls in Afghanistan, in a timely manner without paying high fees via bank wires or PayPal, which are not widely supported there. It also allows them to receive compensation for their work, which is important in Afghanistan where there are few jobs for girls.
Cryptocurrency is an evolving industry that needs women’s community-building skills to thrive. They’re known for their ability to communicate and connect with others, which can help businesses gain a larger audience and market share.
There are groups in the crypto space, such as WiB and Komorebi Collective, that want to make it more diverse. They provide educational resources and role models to help women understand the technology, which can make it more accessible for them to enter the space.
According to Kinjal Shah, the CEO of WiB, there is a long way to go before gender parity is achieved in the cryptocurrency industry. But she thinks bringing more women into crypto will help balance the gender ratio, which can help the industry grow.
Maliha Abidi is a Pakistani artist and activist who also uses crypto to support women’s rights and education. She created an NFT collection called “Women Rise” to raise money for various pro-education and gender equality groups. She hopes to bring 100,000 girls and women into cryptocurrency by 2022.
Learn how to navigate the exciting world of cryptocurrency with Crypto for Girls, a beginner-friendly guide that’s designed specifically for women. From understanding the basics to making informed investment decisions, this resource has everything you need to get started. Check it out now.