Binance Empowers Women to Conquer the Crypto World

African women are making significant strides in the cryptocurrency ecosystem. In sub-Saharan Africa, more than 20% of crypto startups are co-founded or led by women. According to Chainalysis (2023), women make up 31% of crypto holders in the region. This was one of the many insights into women’s empowerment at Binance’s third International Women’s Day (IWD) event, held in Cape Town on 13 March.

Binance – the leading cryptocurrency exchange with more than 260 million users globally – hosted the glamorous networking and educational event to celebrate the crucial roles women play in driving change in different financial sectors. The event fostered open discussions on the challenges women face in the male-dominated crypto and blockchain sectors. Speakers emphasised resilience, networking, and mutual support as key to creating a more inclusive tech world.

Co-founded by a woman; Yi He, in 2017, Binance takes pride in advancing gender equality, with 40% of women making up its workforce.

In a time when diversity, equity, and inclusion are facing global setbacks, it’s encouraging to be part of an organisation that champions women’s leadership and has significant societal impact.

– Farai Ntuli, Youth Employment Expert

Why crypto is a game-changer for women

A ‘fireside chat’ with Frederica Tompkins Michell, Director of Global Marketing at Binance, explored Michell’s pivot from luxury and consumer goods – working with brands including Chanel, Jimmy Choo and Ralph Lauren – to becoming a crypto advocate for women.

The industry is still in its infancy, meaning everyone is a pioneer. No one is being left behind. Crypto’s appeal lies in its community-driven nature, its potential to empower women in a male-dominated space, and its low barrier to entry. You can theoretically invest as little as R1, and being on the blockchain ensures investments are transparent. Traditional finance can be opaque, but crypto is all about accountability.

– Frederica Tompkins Michell, Director of Global Marketing at Binance

She noted that financial advisers are beginning to see the value of these types of investments, with more innovation to come.

Although they’re not yet available in South Africa, investment house BlackRock has just launched Bitcoin ETFs in the US, allowing fractional ownership for investors. This drives costs down and provides access to previously inaccessible markets. The world is moving in this direction, and traditional finance is catching up.

– Frederica Tompkins Michell, Director of Global Marketing at Binance

Navigating with confidence

Yande Nomvete, Binance’s Head of Operations in South Africa, guided guests through the practical steps of entering the crypto space—setting up their first crypto wallet, buying their first token, and making withdrawals. The hands-on session aimed to demystify the process, helping women gain confidence and overcome any hesitations about entering the world of cryptocurrency.

Beyond the technical aspects, Nomvete stressed the importance of women taking a more active role in the industry. “Participation in global and local crypto events must move beyond visibility to influence. Women need to position themselves as decision-makers, not just attendees or panellists,” she noted. We must seize opportunities to shape industry regulations, launch groundbreaking projects, and challenge the status quo in a male-dominated field.

Her words served as a powerful reminder that gaining financial independence through crypto is just the beginning. Women have the potential to drive change and redefine the future of the industry, pushing for inclusivity and innovation at every level.

Smart money moves

Cryptocurrency isn’t about overnight riches – it’s about strategic investing, said Samantha Fuller, Binance Head of Communications in the Middle East and Africa.

While crypto remains a volatile asset class influenced by market trends and trading activity, women tend to be more conservative investors, often incorporating crypto as part of a diversified portfolio.

Development finance professional Esther Mukumbo has put 5% a month of her overall investment portfolio  into her Binance account since 2018.

As part of my broader investment strategy, this helps me to overcome the gender pay gap and other disadvantages.

– Esther Mukumbo, Development Finance Professional

Nomvete said the African continent is uniquely placed to take advantage of crypto, as holding digital assets does not require opening a bank account.

Crypto can be a hedge against inflation and volatile local currencies. It can also be used to make payments to family abroad, especially those working in the gig economy.

– Yande Nomvete, Head of Operations in South Africa, Binance

Taking the leap

A key challenge for women in crypto is overcoming imposter syndrome and taking that first step.

The crypto space needs our voices, presence, and leadership. Equity isn’t given – it’s built.

– Farai Ntuli, Youth Employment Expert

Attendees embraced their identity as “badass women in crypto” with a hands-on workshop that walked them through registering and making their first investment on the Binance platform.

Binance’s annual events help women “step into spaces where we’re under-represented”, said Ntuli, providing opportunities to network and identify business opportunities.

They also introduce attendees to the user-friendly Binance  platform, which offers DIY investors a wealth of information and guidance.

Binance’s top tips for investors:

• Be clear about your “why” – Define your investment goals—fear of missing out (FOMO) is never a good reason to invest Consider working with a financial adviser to help you understand your financial situation, risk appetite, and long-term goals.
• Don’t be discouraged by crypto’s short-term volatility. Make crypto investing part of your broader investment strategy.
• DYOR (Do Your Research) – the Binance platform is packed with educational material on crypto, says Yande Nomvete, Binance’s Head of Operations in South Africa. Enrol in some of the free and paid online courses (and acquire certification), and try the Learn and Earn programme, which allows you to earn digital assets as you educate yourself.
• Never invest more than you can afford to lose – it may be helpful to invest small amounts regularly. Always live within your means and invest with leftover income.

The industry needs more female investors, founders, and developers who are willing to take bold risks and redefine how blockchain can be used for real-world solutions. More women must actively claim leadership roles, push for equitable funding opportunities, and demand inclusion in policy-making conversations shaping the future of Web3. The space will not change unless women force it to.