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HomeNewsBusinessWomen’s Crypto Platform Will Be Launched via the CryptoMom App

Women’s Crypto Platform Will Be Launched via the CryptoMom App

It’s true that the newest initiatives from the Googles, Apples, and Teslas of the world tend to rule the tech news landscape, and for good reason. The major guns aren’t the only ones innovating the industry, though.

The use of cryptocurrencies is expanding. Millions of users utilise exchanges like Coinbase and FTX, banks are creating blockchain-focused products, and even teenagers are getting involved with specialised platforms designed exclusively for them. Gender diversity, however, is still a significant problem with digital currency.

Built In is introducing The Future 5 in eight significant U.S. tech hotspots in an effort to spotlight up-and-coming firms. We will spotlight five tech companies, charities, or business owners in each of these centres every three months who just might be developing the next big thing. Read our list of burgeoning startups from the previous quarter here.

Unsurprisingly, men are more likely than women to own cryptocurrency, finds a recent Morning Consult study. According to the study, only 28% of cryptocurrency owners are women, and 72% of all owners are men.

While working from home with her husband, a CTO at a fintech startup, during the pandemic, Cole had the concept for the app. He continued using crypto-speak, so she eventually started looking into it. She eventually created a cryptocurrency exchange account.

There are several causes for this difference, but according to Kendra Cole, applications made and designed by men, for men, have a significant role. Cole intends to establish a platform for women to use with her firm, The CryptoMom App.

“I hyphenate my married name, but it didn’t necessarily match one of my bank accounts, which you need to be able to link to your identity, to be able to prove your identity. As a result, I had trouble even signing up for the exchanges, and after I did, I thought the [user interface] lacked clarity, Cole told Built In.

Cole hopes to address the difficulties she encountered and lower the entry barrier for women with the CryptoMom App. She accomplished this by collaborating with female UI and UX designers to develop an investing software targeted at millennial women. This, according to Cole, involved developing the software, shrinking the UI to fit smaller hands, using larger font, and using softer colour tones to lessen eye strain from the screen.

Other cryptocurrency platforms don’t use the same investment approach as the CryptoMom App. According to Cole, the app is not a trading platform that encourages quick transactions. Instead, women use the programme to buy Bitcoin and then transfer it to investing accounts and funds like a 529 plan. The CryptoMom App allows users to gift their loved ones with bitcoin they have acquired. More coins will be available for purchase later in the app’s lifespan, according to Cole. “Women invest in things they are familiar with and understand. Women are actually far better investors than males because they acquire and hold their investments for longer periods of time, according to Cole.

Since creating the CryptoMom App, Cole has completed a round of funding from friends and family. The startup also participated in the first AWS Impact Accelerator and got mentoring from top businessmen. Although the app is now on a waitlist, it should be available by year’s end. Cole intends to engage with crypto education organisations and target millennial women through web publications with a predominately female readership for its initial deployment. The business also intends to start influencer-advertising campaigns.

Women need a platform where they can connect with other women who are creating their crypto wealth and feel confident in their financial choices, according to Cole. “We’re working to close the gender gap in crypto.”

News Summary:

  • Women’s Crypto Platform Will Be Launched via the CryptoMom App
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