Events for December 2022

Monica Roberts
Remembrances of Monica Roberts Pour Out Following Her Passing
October 9, 2020
Lez Hang Out Podcast Hosts
Lez Hang Out Announces New LGBTQ Romantic Comedy Musical
October 12, 2020

How the LGBTQ Community Is Embracing Cryptocurrency

Woman with Bitcoins

In uncertain times, LGBTQ representation and support is needed more than ever. Given the sheer amount of discrimination and prejudice that gay, lesbian, bisexual, transgender and others face due to gender identity or sexual orientation, finding ways to stick together and support the community is vital.

Ultimately, technology brings together our community in ways that wouldn’t have been possible just a few decades ago. Among the methods of support this brings, the ability to unite behind economic action that uplifts both individuals and the community at large is perhaps one of the most action-oriented solutions thus far.

Cryptocurrency – while for everyone – is providing unique opportunities for LGBTQ causes and businesses. How exactly is this occurring?

A LGBTQ-Specific Cryptocurrency

A plethora of major companies have made use of both cryptocurrency and blockchain technology – but a new wave of LGBTQ cryptocurrencies has shown that there is emphatic support among the community at large.

Beginning in 2018, multiple LGBTQ-themed cryptocurrencies have emerged, with these currencies being traded on many platforms globally. You can find opportunities to buy and sell on major trading platforms, as well as the occasional bitcoin exchange dedicated to hosting all currencies available to the public.

The LGBT Token was arguably the first inclusive cryptocurrency to emerge on the marketplace, dedicated to empowering LGBT users and transactions regardless of country or traditional currency. Founded by a Hong Kong-based non-profit, the LGBT Token generated the first wave of buzz about cryptocurrency among our broader community and allies.

Since then, a variety of businesses have embraced acceptance of the LGBT Token – as well as a variety of other, lesser-known alternatives – in the pursuit of embracing further LGBTQ acceptance.

LGBTQ Crypto Pioneers Are Investing Elsewhere

Many LGBTQ cryptocurrency investors point out that the climate for trading and interaction in the world of crypto is far more accepting than in other environments. Whether it be openly embracing one’s sexual orientation or gender identity, few avid investors report receiving any of the typical shunning or negative commentary that is so often experienced in other online realms of investment.

In fact, a variety of LGBTQ community members have made sizable investments of their own in propagating the crypto industry. One such example is Joe DiPasquale, who is the CEO of cryptocurrency and blockchain-focused BitBull Capital. His investments have led him to focus additional investment into StartOut, a non-profit group that uplifts LGBTQ entrepreneurs in the world of technology.

Cryptocurrency Levels the Playing Field for Investment

Adding to the anecdotal observations from LGBTQ members mentioned above, cryptocurrency is an inherently online concept. Unlike many financial institutions and industries where traditional prejudices can exclude or otherwise harm or prohibit individuals from taking action, the cryptocurrency market is a fundamentally equalizing concept.

Cryptocurrency offers more liquidity and freedom to investors without the burdens of dealing with traditional infrastructure – something that has often led to discrimination for the LGBTQ community. While there are still many financial barriers for the LGBTQ community, the nature of cryptocurrency makes it possible for anyone to get in on the action – regardless of background or budget.

While society is certainly progressing, not every facet of day-to-day life is moving at the same speed. For those seeking equality in their financial investments, the cryptocurrency market offers a relatively judgment-free atmosphere where people from all walks of life can trade, grow and prosper.