Understanding the Hype and the Hesitation

If you’re a woman over 40 and still unsure about cryptocurrency, you’re not alone. Despite years of media coverage, crypto aka digital assets is one of the most misunderstood areas in finance. Many smart, experienced women still find themselves asking, “Is this relevant to me?” or “Am I missing the boat?”.

It’s a fair question. The headlines are noisy, the terminology is full of jargon, and the risks are real. But here’s the truth: cryptocurrency is becoming more integrated into everyday financial systems. Whether or not you plan to invest in it, understanding the basics may be a wise move. Especially if you want to avoid the growing number of cyber scams targeting women.

What Is Cryptocurrency?

Cryptocurrency is a form of digital money that exists only online. These digital assets are not backed by any physical asset or government. The most well-known example is Bitcoin, which was introduced in 2009 by an anonymous figure known as Satoshi Nakamoto. Since then, thousands of other digital currencies have entered the space, including Ethereum, Solana, and Dogecoin, to name a few.

These cryptocurrencies operate on a technology called blockchain. This is essentially a secure digital ledger that records all transactions transparently. Once an entry is added to the blockchain, it cannot be changed or deleted. This creates a sense of trust and accountability in the new system where there are no central banks, governments, or intermediaries involved.

At its core, cryptocurrency allows for peer-to-peer transactions, meaning people can send and receive digital money directly without a middleman. For some, this offers freedom and innovation. For others, it raises red flags about regulation, risk, and reliability.

Why Do Digital Assets Feel So Foreign?

If learning about cryptocurrency has ever felt complicated, that’s because it is. Here are some of the factors that make it more complex than traditional currency:

• It’s still relatively new. While Bitcoin was launched over a decade ago, it is still young compared to traditional currency.
• It combines “investing” with currency, and it changes quickly. Prices can rise or fall dramatically in a single day.
• The language can feel like a foreign dialect. Phrases like smart contracts, staking, cold wallets, and decentralized finance are not part of everyday conversation. New technologies and terms are constantly emerging. Even professionals admit that staying current in crypto requires constant education.

According to a 2024 survey from Pew Research, “63% of Americans say they have little to no confidence that current ways to invest in, trade or use cryptocurrencies are reliable and safe.” Pew Research, 2024

Should Women Over 40 Care About Crypto?

The short answer is yes, but not for the reasons you might think. We aren’t telling you to buy Bitcoin or become a blockchain developer. However, understanding cryptocurrency may help you become more financially informed and prepared for the future.

Here are a few reasons why many women over 40 are paying closer attention:

• To confidently take control of assets during transitional times, whether through divorce, widowhood, or inheritance.
• They are hearing about crypto in estate planning, taxes, or financial news.
• To understand when using crypto for a purchase or transaction might actually make sense, such as receiving a discount or added benefit.
• To confidently engage in conversations with children, colleagues, or peers. And perhaps most importantly, to protect themselves from the growing number of scammers who are targeting women using crypto terms to legitimize fraud.

Is Crypto Safe?

The short answer is: no. Cryptocurrency is not insured like a traditional bank account. If your digital wallet is compromised or you send money to a fraudulent exchange, there is no federal protection.

In 2022 alone, over 3.8 billion dollars were lost to cryptocurrency-related hacking and fraud, according to the blockchain analysis firm Chainalysis. CNN, Chainalysis, 2023

While blockchain technology itself may be secure, the platforms, apps, and people involved in the space vary widely. Some may be legitimate, while countless others are designed to trick users into sending money they will never see again.

Regulatory risk remains a large risk factor that few people are talking about. However, when the US government puts safeguards and regulations around digital assets to protect consumers and increase transparency to decrease criminal activity and fraud, much of the cryptic value will be lost, and “investors” could see a sharp decline in value.

It is not a real investment. The SEC has made it clear that most digital assets are not considered registered securities, which means they don’t meet the same standards of disclosure, oversight, or investor protections as traditional investments. Without earnings, dividends, or intrinsic value behind them, their worth depends largely on market speculation rather than fundamentals. Our thoughts? If you want to experiment with crypto, start small. Use well-known, regulated platforms. Enable two-factor authentication. And never invest more than you are willing to lose.

Stay Curious and Stay Smart

Cryptocurrency can feel complicated. That is normal. You don’t have to love it, and you certainly don’t have to buy it. But knowing what it is, and what it is not, is part of being a financially confident woman in today’s world.

And after 40, confidence is one of your most powerful assets. Use it to ask questions, protect what you’ve built, and grow your wealth on your own terms.

Why Financial Literacy Is Your Best Asset

You don’t have to invest in crypto to be financially empowered. But understanding it, even at a basic level, gives you an edge. You will be able to identify red flags, ask better questions, and participate confidently in financial discussions.

This is where Svvy® can help. Svvy® is a fintech platform built by women, for women. It connects you with licensed, vetted financial experts, who are uniquely qualified to understand how to guide women through both traditional investing and modern financial topics like cryptocurrency.

Whether you are curious about how digital assets fit into your long-term plan, or you just want to avoid making an expensive mistake, Svvy® offers a free matching quiz so you can get guidance you can trust.

Learn more and/or get matched with a vetted advisor at besvvy.com.

Disclaimer:

This article is intended for informational and educational purposes only and should not be considered financial, legal, or investment advice. Every individual’s financial situation is unique, and decisions should be made based on your specific goals, needs, and circumstances. Before making any financial decisions, we strongly recommend consulting with a licensed financial expert or qualified professional.

Sources:

• CNN, Chainalysis, 2023
• Pew Research, 2023
• Bitcoin Whitepaper (Satoshi Nakamoto)
• FDIC Insurance Information
• Investor.gov, 2024