Finurah Contributor

October 26, 2021·2 min read

After years of being skeptical about bitcoin, Black Americans are leading the cryptocurrency revolution in 2021.

A recent Harris poll found that 23 percent of African-Americans own cryptocurrency, compared to 11 percent of white Americans and 17 percent for Hispanics.

https://news.yahoo.com/african-americans-outpace-whites-hispanics-202900463.html

(https://xoxohth.com/thread.php?thread_id=5013795&forum_id=2#43827676)

Finurah Contributor

October 26, 2021·2 min read

After years of being skeptical about bitcoin, Black Americans are leading the cryptocurrency revolution in 2021.

A recent Harris poll found that 23 percent of African-Americans own cryptocurrency, compared to 11 percent of white Americans and 17 percent for Hispanics.

https://news.yahoo.com/african-americans-outpace-whites-hispanics-202900463.html

(https://xoxohth.com/thread.php?thread_id=5013795&forum_id=2#43827691)

African-Americans Outpace Whites and Hispanics In Cryptocurrency Investments, Is a New Avenue to Black Wealth-Building Opening?

Finurah Contributor

October 26, 2021·2 min read

After years of being skeptical about bitcoin, Black Americans are leading the cryptocurrency revolution in 2021.

A recent Harris poll found that 23 percent of African-Americans own cryptocurrency, compared to 11 percent of white Americans and 17 percent for Hispanics.

https://news.yahoo.com/african-americans-outpace-whites-hispanics-202900463.html

(https://xoxohth.com/thread.php?thread_id=5013795&forum_id=2#43827679)

Finurah Contributor

October 26, 2021·2 min read

After years of being skeptical about bitcoin, Black Americans are leading the cryptocurrency revolution in 2021.

A recent Harris poll found that 23 percent of African-Americans own cryptocurrency, compared to 11 percent of white Americans and 17 percent for Hispanics.

https://news.yahoo.com/african-americans-outpace-whites-hispanics-202900463.html

(https://xoxohth.com/thread.php?thread_id=5013795&forum_id=2#43827677)

Women and investors of color seem to prefer cryptocurrency over traditional stocks—here’s why

Published Fri, Jul 23 20212:48 PM EDTUpdated Mon, Jul 26 202110:22 AM EDT

Nicolas Vega

@atNickVega

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@andreonegin via Twenty20

Women and investors of color seem to be drawn to cryptocurrencies over traditional stocks, a new survey from NORC at the University of Chicago finds.

The survey, which was conducted in late June and comprised of a nationally representative sample of 1,004 adults nationwide, finds that 41% of cryptocurrency traders are women, while women make up only 38% of stock traders. Similarly, 44% of cryptocurrency traders are investors of color, compared with only 35% stock investors.

The gap is a result of the perceived barriers to getting involved in both, with crypto appealing to underrepresented groups because it is viewed as the more accessible of the two, NORC’s team believes.

“Because crypto and digital assets are essentially new for everyone, there’s not these complex terms... the way that traditional stock investing has,” Angela Fontes, a vice president in the economics, justice and society department at NORC, tells CNBC Make It.

“There’s this whole world of information around the stock market and how to trade [and] what stocks to trade that’s full of terminology that first you need to learn and understand,” Fontes explains. “Whereas in crypto, there’s a lot more information at the basic level because it’s not at the same maturity as traditional stock investing is.”

Fontes says that the same logic applies for lower income investors. NORC’s study found that 35% of cryptocurrency traders had incomes lower than $60,000, while only 27% of stock traders had similar incomes.

“I may not think I have the ability to enter the stock market and purchase stocks if I’m a single mom and make $40,000 a year,” Fontes said. “But I may think I can get some cryptocurrency. I don’t need a broker to do it and I don’t need a 401(k) account.”

The University of Chicago survey also found that overall, 13% of Americans bought or traded crypto over the past year, compared to 24% who invested in stocks.

Cryptocurrencies have had a wild year, with bitcoin hitting an all-time high above $63,000 in April and meme-inspired dogecoin soaring as much as 13,000% earlier in 2021.

Correction: This story was revised to correct that 41% of cryptocurrency traders are women and that women make up 38% of stock traders. It also corrected that 44% of cryptocurrency traders are investors of color, compared with only 35% stock investors.

(https://xoxohth.com/thread.php?thread_id=5013795&forum_id=2#43827729)

Meet Tiffany James, the 26-Year-Old Teaching Women of Color the Secrets of the Stock Market

June 16, 2021

by Leenika Belfield-Martin

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The stock market has become much more accessible over the years as apps like Robinhood allow the everyday person to invest with just a tap on their smartphone. And with investing becoming even more mainstream during the pandemic, more people have put money into the stock market in the last five months than in the last 12 years combined, according to CNBC. It's not unusual to see various tickers trending on Twitter as budding investors discuss sending their stocks "to the moon." But amid the trending hashtags, another very important conversation was being held on the Clubhouse app among Black women also wanting to get into the market.

At the head of this discussion was 26-year-old Tiffany James from Brooklyn, who started her company ModernBlkGirl for women just like her who want to build their wealth through investing in the stock market. What began as a club within the app has now expanded to a community with more than 100,000 Black women. The brand has also recently launched the inaugural Teen University, a month-long program to help teens start their stock market portfolio. POPSUGAR caught up with Tiffany to get some insight into her brand, advice on investing, and what she wants Black women to know.

POPSUGAR: How did you get your personal start in the stock market?

Tiffany James: Funny enough, I've always had an introduction to it. I remember going to stock option seminars in New York back in 2015-2016, but it wasn't really until 2019 that I decided to take it seriously. The thing about the market is once you find a technique or strategy that works, you can really live off of it. And I was able to do that.

PS: What inspired you to take the knowledge you had learned about the market and share it with women like you?

TJ: After being on Clubhouse and hearing me speak in some of the rooms relating to investing, women reached out to me and said, "We love your teaching style, you need to make this a thing, like, now." Typically people that are into the stock market have been into it for like 10, 20 years, and I'm only 26! Why would anyone listen to me? But, I was able to find strategies that worked and people love that I'm able to break down the market in a way that people can understand and enjoy.

PS: A 2019 study showed that only 33 percent of Black households are investors, whereas about 60 percent of white households are. Why do you think this gap exists?

TJ: Our families weren't really taught how to invest. Coming from my background as a Caribbean-American, we were taught to save, put your money in a bank account, and maybe get a 401(k). Investing was looked at as something that was "risky business." Now we're seeing this Black renaissance of people in the community getting more involved in the market because we have that information. Once we educate people and expose them more to something, they'll do what needs to be done to be successful in that field. I definitely can see the gap shortening in the next couple of years, and I know that I'm going to be a part of that responsibility to help it.

PS: Like you said, the stock market is a risk that our ancestors didn't want to take. What advice do you have for young women who are scared to get started?

TJ: I would tell them that there are riskier things we do every day and enjoy. For women, dating a new guy is more risky in today's dating scene than investing. Finding a new hairstyle is more risky than investing. Even spending money to go on a vacation is more risky. I use these examples because these are, believe it or not, ways many women can spend a couple hundred dollars. I just try to [stress] that you don't need $20,000 or more to invest in the market — you can start as small as $500. Summer is coming up, and in a month we can spend hundreds on brunch with the girls going out weekly! You can use that same money that you use for fun to invest.

PS: What's next for for ModernBlkGirl, or even for yourself? Where do you see the brand in one year or five years from now?

TJ: A year from now you'll see ModernBlkGirl UK or ModernBlkGirl Canada. You'll also see us work with different brands and artists. Our goal is to get 500,000 women of color into the market and normalize it. We hope that next year we'll be able to work with different industries like fashion, music, and art. We want to collaborate with them to show that investing is in all fields. We may even launch an app. Regardless of how we expand, we're going to continue to invest in sisterhood!

(https://xoxohth.com/thread.php?thread_id=5013795&forum_id=2#43827725)

African-Americans Outpace Whites and Hispanics In Cryptocurrency Investments, Is a New Avenue to Black Wealth-Building Opening?

Finurah Contributor

October 26, 2021·2 min read

After years of being skeptical about bitcoin, Black Americans are leading the cryptocurrency revolution in 2021.

A recent Harris poll found that 23 percent of African-Americans own cryptocurrency, compared to 11 percent of white Americans and 17 percent for Hispanics.

https://news.yahoo.com/african-americans-outpace-whites-hispanics-202900463.html

(https://xoxohth.com/thread.php?thread_id=5013795&forum_id=2#43827687)