Sonar aims to help resolve gender inequalities in access to crypto

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Marsaskala, Malta – (Newsfile Corp. – December 23, 2021) – Sonar aims to help resolve gender inequality in access to crypto. According to the CNBC Invest in You: Next Gen Investor survey, men currently invest twice as much in cryptocurrencies as women (16% of men vs. 7% of women). Access to information may have become a privilege that can lead to a disproportionate distribution of wealth between the sexes. Additionally, cryptocurrency and its younger counterpart in decentralized finance have their own barriers to access.

Sonar

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For example, the steep learning curve requires access to a number of tools and exceptional levels of information to navigate. Additionally, cryptocurrency could be a revolutionary financial disruptor, but still suffers from a problem that has its roots spanning centuries: a patriarchal hierarchy that includes an insufficient number of women. It has been argued that women lack confidence in their investments, but in reality their portfolios continue to exceed men’s by 40 basis points. Alternatively, it is suggested that they trade less due to their inherent risk aversion, however, this biological determinism is not supported by actual research.

Rather, it is believed that women transact less because they are less inclined to overestimate their knowledge and skills in order to win in the market. The real barrier to access is therefore the behavior of exclusion and discrimination on the part of those in the space. Many women said they were treated with a combination of objectification or contempt on social platforms that support decentralized finance, which made them feel reluctant to try to find out more, or the same groups were more willing. to educate men on cryptocurrency trading than women. .

Women’s participation in cryptocurrency is increasing

Despite these access barriers, women are slowly increasing their presence in the industry, as evidenced by the fact that female cryptocurrency investors in the UK have grown by 20% over the past year. As this rate continues to rise, there are other ways for the space to address gender access and help balance the scales.

Additionally, there are many cryptocurrency projects championing women in space, and one in particular is using their own system to break down this barrier with the help of education. Sonar.

Sonar is a decentralized finance project committed to removing barriers to accessing cryptocurrency. Its beta platform is slated for release in the coming week and includes an AI information aggregator that will bring information directly to users. Sonar is well known for the many tools that make it much easier to enter and navigate the DeFi space.

Praised for its next-generation cryptocurrency meta-tracking dashboard, Sonar empowers individuals to use analytical tools to make more informed choices when investing. Created in response to the growing number of illegitimate projects appearing in the cryptocurrency space, Sonar considers its three core values: transparency, technology and education.

Providing powerful trading tools to the average user on a combined ecosystem allows them to make smarter decisions in a simpler and more streamlined way.

Focus on increasing adoption of the crypto space

Sonar also offers an ever-expanding library of educational materials that seeks to provide users with invaluable information on blockchain technology and decentralized finance.

The project aims to increase the adoption of cryptocurrency in economically and geographically disadvantaged spaces, targeting in particular women in these regions and in general. Currently, Sonar has many women in key positions, including the education department, strategy team, and legal counsel.

About Sonar

The Sonar platform is a smart tracking and monitoring platform for projects based on BSC and ETH networks. At the center of the dynamic ecosystem, its beta will define the potential and future growth of the project. Once beta launches, it will quickly add new intuitive features to improve user experience and ease of cryptographic interaction. Sonar also aims to help women crypto enthusiasts receive authentic information before investing and supports their involvement in the space.

Media contact

Jacob CamilleriEmail – [email protected]

Website – https://www.sonarplatform.io/

White paper https://www.canva.com/design/DAEggRStH8k/ErZxJ9RjGXLv4JYE2wzqow/view?utm_content=DAEggRStH8k&utm_campaign=designshare&utm_medium=link&utm_source=publishsharelink

RP – Cryptoshib.comEmail – [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108452

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