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Breaking The Bias: How Paxful is promoting economic prosperity of women

By Guardian Nigeria
07 March 2022   |   3:32 am
Financial equality is a challenge that women continue to face all around the world. According to the World Bank’s Women, Business and the Law 2022 report, about 2.4 billion women of working age do not have equal economic opportunity and 178 countries maintain legal barriers that prevent their full economic participation. In that same report,…

Financial equality is a challenge that women continue to face all around the world.

According to the World Bank’s Women, Business and the Law 2022 report, about 2.4 billion women of working age do not have equal economic opportunity and 178 countries maintain legal barriers that prevent their full economic participation. In that same report, women face some form of job restriction in 86 countries and are not guaranteed equal pay for equal work in 95 countries.

In developing nations, these figures are further compounded by gender and societal norms that prevent women from receiving fair wages and accessing financial resources. Narrowing in on Africa, more than 70% of women are financially excluded and approximately 74% of women in Sub-Saharan Africa hold jobs in the informal sector. But despite these challenges, the world’s fastest growth in women entrepreneurs is in Africa, showing us that women are eager to enter the workforce and close the gender gap. By prioritizing the financial inclusion of women and understanding the value they can bring to the table, we can improve not only the economic prosperity of women, but of the global economy.

Given that women can play a critical role in driving economic development, it has become more important than ever that women are adequately supported to reach their full financial potential. This is what Paxful, the global peer-peer fintech platform, is doing through their education initiatives and the empowering efforts of their Peer Program.

Take Betty Oluwakemi Famakinwa for example. She began her journey with Bitcoin through her fiancé who encouraged her to sign up on Paxful.

“The first time I sold the first Bitcoin he sent me on Paxful, I realized that it was worth much more than what I would have if he had sent me fiat. That was what triggered my interest in crypto. From that day on, I began to study how to trade BTC and learned every other thing from my fiancé,” she said.

Today, Betty is actively trading on Paxful as a Power Trader and Paxful Peer, serving as a leading light for other women in the Bitcoin community. For her, women have all it takes to become successful traders on the platform and that’s enough reason to be more passionate about it to gain financial freedom. “As a lady and a crypto trader, women don’t need to be reliant on any man to provide for their needs. I encourage women in crypto to join the Paxful Peer Program because it comes with many advantages where they can gain a lot,” Betty said.

Famakinwa brings at least three new fully verified users to the platform every month. She uses her online influence and introduces others to Paxful via Twitter and Facebook, recognizing that she has the power to influence others to gain financial independence.

According to Ray Youssef, CEO and Co-founder of Paxful, “Bitcoin has the power to open doors and increase economic opportunity and mobility for millions of people across the world. At Paxful, our goal is to use education to drive financial freedom and provide equal access to finance for the 100%. Stories like Betty’s show us how Bitcoin and peer-to-peer finance can reduce barriers to wealth and break the cycle of financial inequality.”