Give the Gift of Bitcoin This Mother's Day
The women in your life deserve to be shown love at all times of the year, but you definitely don't want to miss the most important day of all, Mother's Day. For all you last-minute gift-givers, I have the perfect solution for your Mother's Day present: bitcoin. Bitcoin is an incredibly versatile gift to give - it is empowering, can be used to treat oneself, or be admired from afar as the balance grows over time.
Read on to find out how the women in your life can benefit from bitcoin, the best ways to give it as a gift, and some advice for staying informed on all things cryptocurrency.
How Women Could Benefit From Bitcoin
Historically, women have disproportionately faced barriers to financial access that have prevented them from participating in the economy and improving their lives. This has been especially true for women from traditional cultures where men make all financial decisions. Fortunately, in the United States, we have made a lot of progress regarding women's economic equality. However, while this gender gap has been narrowed, it has not yet been eliminated. Unfortunately, the COVID-19 pandemic has caused us to lose some progress made towards women's financial inclusion as women have been one of the hardest-hit groups economically.
Bitcoin and other cryptocurrencies offer a way to promote financial inclusion among women by providing a new world of financial services that were not possible before. Bitcoin allows women to grow their savings and increase their purchasing power while supporting a movement that promotes equality and financial inclusion for all groups.
The Financial Power of Women
When it comes to investing, women tend to be less confident than men, according to a study by Merrill. Researchers found that around half of women reported feeling confident in managing investments, compared to 68% of men. Interestingly, women make up more than half of the U.S. population but control around 85% of consumer spending despite historically being left behind from conversations around finance. Plus, women are expected to experience a great wealth transfer over the next decade, as $30 trillion is passed down from baby boomers.
With a growing amount of financial power, women could potentially make a substantial impression on crypto markets. Many women are already involved in the crypto-sphere. A 2019 report from Grayscale found that 43% of Bitcoin investors were women. Even at CoinFlip, more than half of our customer base is women. Still, it is estimated that only 14% of Americans use crypto right now, so overall ownership is still relatively low.
Give The Gift of Bitcoin This Mother's Day
One of the most impactful ways to promote widespread Bitcoin adoption is by introducing it to the women in your life. One of the easiest ways to get someone involved in crypto is by giving them some!
As something inherently valuable, Bitcoin makes the perfect gift for anyone. Your mom can use it to treat herself, pay for necessities, or she can HODL like the rest of us and watch the value rise over time.
There are two ways to give your mom her first bitcoin this Mother's Day: on a hardware wallet or software wallet.
If your mom is a fan of opening physical gifts, consider putting some bitcoin on a hardware wallet like this one from Trezor. Plus, your mom can enjoy the extra security that comes with keeping crypto offline in this small virus-proof USB device. For more information on hardware wallets, check out our review of the Trezor One.
Another option for gifting bitcoin is setting up a simple software wallet compatible with mobile devices.
If you go the software wallet route, you can transfer some BTC over once the set-up is complete. To give to mom, put the recovery seed-key phrases in a card along with the total amount of bitcoin being given. I'm sure she will have a fun time trying to decipher what it all means until you can explain everything to her in more detail and help her set up the wallet on her phone.
Crypto Education For Women
Getting more women involved in crypto starts with more education geared towards women. Educational content around crypto is becoming increasingly more critical as many newcomers are joining the space. According to a recent study from Cardify, women tend to feel less confident than men when it comes to understanding crypto. To help the women in your life feel more informed on the workings of cryptocurrency and industry trends, point her in the direction of CoinFlip! We make content geared to beginners of all kinds. The following is recommended reading for all newcomers:
To stay up to date with crypto markets, have your loved one sign up for our weekly email newsletter, the Flip Thru, where we discuss the latest news and industry-wide trends in a way that is relatable for all audiences. Sign up for the Flip Thru here.
Are you ready to give your mom the gift of bitcoin this Mother's Day? Head to your nearest CoinFlip ATM to stock up!