Women are becoming catalysts of crypto entrepreneurship in Kenya and the rest of the world. Since 2019, the number of female crypto entrepreneurs has increased by 48%, with 13% of them actively investing in Bitcoin and reaching milestones in financial self-sufficiency.
Paxful, a global peer-to-peer bitcoin marketplace, continues to empower and lead women towards crypto- and bitcoin entrepreneurship. With global offices in New York, the Philippines, and Estonia, Paxful has diversified its workforce by recruiting over 37% of female employees.
The company is helping people become financially stable on their own terms, through either bitcoin trading or Paxful’s affiliate and peer programs.
However, is it really that easy for female crypto entrepreneurs to thrive in the field that has always been dominated by men?
Is bitcoin alone enough to push women towards diversifying their income streams and turn bitcoin trading into a side hustle or even a full-time job?
Here are 3 tips for success for any woman considering a career or start-up in bitcoin
- Become a crypto technology expert; information is paramount when it comes to crypto technology. While bitcoin has gained momentum and acceptance in a number of developed countries, it faces numerous challenges in others. Position yourself as an expert on the subject. Share information on what bitcoin is and isn’t. A great example is Yvonne Kagondu, Paxful Community Coordinator in Kenya, who actively promotes Bitcoin and blockchain literacy in the region.
- Harness your problem-solving skills; before embarking on a bitcoin journey, be ready to identify existing problems and generate solutions as you go, to sustain your business. Pinpoint the gaps in the industry and build your business around them by creatively using bitcoin to mitigate the
- Build a network of skilled crypto enthusiasts; surround yourself with like-minded individuals who can help you grow. Connect with fellow women in the space so you can trade, invest and create future partnerships together.
Increase In P2P Finance Among Female Entrepreneurs
The Paxful Peer Program has been instrumental in helping female crypto enthusiasts succeed in the industry. With 5 female peers in South Africa and 6 in Kenya, the program has given women an opportunity to be their own boss, whilst managing various communities of entrepreneurs and helping them succeed in bitcoin trading.
“The aim of our international Peer Program is to help students, new graduates, freelancers, and all young entrepreneurial-minded people learn new skills, earn extra income, and extend their network. Through the program, we are creating ‘community leaders’ by giving these young individuals numerous tools and opportunities to become advocates of Paxful, bitcoin and peer-to-peer finance within their own local communities,” says Tugba Abadan, Head of Community and African market lead at Paxful.
To take it further, Paxful has also partnered up with various female-led initiatives and organizations dealing with bitcoin. Through such innovative partnerships, Paxful is hoping to inspire more women to join the crypto ecosystem and take control of their finances.
The number of female users who have successfully conquered bitcoin marketplaces is constantly growing. A Kenyan-born female user based in Berlin has utilised the platform to instantly send money to her family in Kenya, via one of Paxful’s 300+ payments methods, including a popular Kenyan mobile money service. The platform allows users to trade bitcoin for this digital wallet, meaning the recipient will get the funds in their account instantly. This is just one of many examples showcasing the use of bitcoin on the Paxful platform in everyday lives. Paxful allows for instant and decentralized transfers around the globe, making it a simple and secure solution. It all starts from a quick process of setting up a free bitcoin wallet where the user can send and receive payments.
Other female users making headway in crypto adoption in the African region include Veecca Smith Uka from Nigeria. Veecca resides in the United Kingdom but is able to send money to her family back in Nigeria using bitcoin.
Continued support for women in bitcoin
Women, especially those in Africa, are slowly proving to be a vital asset in the success of the crypto economy. In the years ahead, Paxful will continue supporting women and improving gender diversity through programs and partnerships, thus bringing more opportunities for financial inclusion in Africa and around the globe.
Paxful is a people-powered marketplace for money transfers with anyone, anywhere, at any time. Their mission is to empower the forgotten four billion unbanked and underbanked around the world to have control of their money using peer-to-peer transactions. The company, founded in 2015, has over 4.5 million users globally who you can instantly buy and sell bitcoin with—using over 300 different payment methods.
As part of their mission Paxful also launched #BuiltWithBitcoin, a social good initiative with the goal of building 100 schools funded entirely by bitcoin all across emerging markets. Paxful was co-founded in 2015 by Ray Youssef, Chief Executive Officer, and Artur Schaback, Chief Operating Officer.