19.01.2021

Bitcoin’s Risk Keeps Most Women Away From Cryptocurrency

In a Twitter discussion on Sept. 5, Miss Universe Finland 2015 winner, Rosa-Maria Ryyti, argued Bitcoin’s risk factor made it more appealing to men.

Bitcoin (BTC) is less popular among women because they are less interested in risky investments, according to one of the cryptocurrency’s best-known female proponents.

Ryyti: Women “more risk-conscious”

She was responding to a query by analyst and Cointelegraph contributor, Filb Filb, who asked followers why the Bitcoin community was overwhelmingly male.

“Women are more risk-conscious in general and often go for a ‘slow & steady’ investment strategy,” Ryyti wrote, adding:

“The current general perception of Bitcoin in the msm makes it even less probable for the average women (and men) to get involved.”

Is crypto shifting the gender balance?

Data currently available suggests around 90% of Bitcoin users are male. The phenomenon has frequently sparked debate, with dedicated structures set up in order to increase female involvement.

In June, Cointelegraph reported that 5% of Github commits involving cryptocurrency code came from women. Conversely, a report the following month suggested that out of all crypto holders in Europe, as many as 20% are female.

Ryyti herself rose to prominence more recently, participating in the Lightning Torch Bitcoin transaction relay earlier this year.

1.4 Million Brazilian Point-of-Sale Devices to Support Crypto Payments

Cielo, the largest payment processing provider in Brazil, has unveiled support for Bitcoin (BTC) and cryptocurrency purchases on its point-of-sale (PoS) devices.

Crypto payments via QR codes

Cointelegraph Brazil reported the news on Aug. 30. According to the report, users can make crypto payments through Cielo PoS devices via QR codes. The PoS machines generate QR codes for payment, and the customer can then use a smartphone in order to scan a code and make a payment. The customer also reportedly needs to hold either an account with Uzzo or Criptohub – Cielo’s network partners – in order to complete payment.

Cielo president Paulo Caffarelli remarked that its partner banks, including Bradesco, are backing the new crypto payments offering. Additionally, Cielo may begin supporting crypto payments that don’t require a PoS machine in October, per the report. Instead of a PoS device, this mode of payment would use a Cielo mobile app to generate the QR code instead.

According to company data, Cielo operates 1.4 million PoS devices, distributed across 5,500 municipalities in the country.

Other PoS devices supporting crypto payments

As previously reported by Cointelegraph Brasil, Brazilian commercial bank Banco Inter announced that it would launch a crypto payment system that doesn’t rely on PoS machines. This service would be available through a mobile app and reportedly would not require users to hold a Banco Inter account.

As previously reported by Cointelegraph, crypto startup Pundi X recently secured a deal to distribute its crypto PoS device, the XPOS, throughout Venezuela at outlets of department store chain Traki. Pundi X CEO Zac Cheah commented:

“Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system […] We hope the XPOS further expands the crypto use cases that customers have come to expect from Traki.”

cointelegraph.com

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