According to new research, adding "crypto" to a dating profile makes you more desirable, but the crypto community has reservations about online dating.
Cryptocurrency has emerged as one of the year's most hotly debated topics. As a result, it's not surprising that mentioning "crypto" in an online dating profile may attract more attention.
According to a new study conducted by the brokerage firm eToro, 33 percent of Americans polled would be more likely to go on a date with someone who mentioned crypto assets in their online dating profile. Out of the 2,000 adult residents in the United States between the ages of 18 and 99 polled, more than 40% of men and 25% of women said they are more interested in a potential date when crypto is mentioned on a dating profile.
What does love have to do with cryptocurrency?
According to Callie Cox, U.S. investment analyst at eToro, the findings of eToro's inaugural "Crypto & Culture" survey demonstrate the intersection of money, culture, and identity. "In the survey, we talked a lot about identity and how important it is in the crypto community." "The idea behind this campaign was to better understand how people think about big life projects and finding the right partner," Cox explained.
With this in mind, Cox explained that one of the report's most notable findings was that 33% of respondents would be open to dating someone who mentioned cryptocurrency in their profile. "This demonstrates that there is a link between money, love, and identity when people look for a partner on a dating app," she said. Cox went on to say that it was also interesting to see that nearly 74% of survey respondents said they would go on a second date with someone who paid the first date's bill in Bitcoin (BTC). "We also wanted to put the environment through its paces to see how people felt about using cryptocurrency as a currency." We were surprised to see such a high percentage, which speaks to identity."
While these findings suggest that publicly open crypto holders and enthusiasts may attract more attention on dating apps, Cox stated that the majority of survey respondents were Millennials and Gen Z. "Everyone was required to self-identify, and the majority of respondents were from the younger generation," she explained. Regarding the use of cryptocurrency as a currency, Cox added that eToro's findings show that paying a bill in Bitcoin is more appealing to men than to women.
Cryptocurrency and online dating
Although eToro's survey suggests that crypto terminology may make daters more desirable, some members of the crypto community believe that mentioning the trait is a double-edged sword.
For example, Hailey Lennon, a law partner at Anderson Kill and the founder of Crypto Connect, told Cointelegraph that she didn't have "Bitcoin" anywhere in her online dating profile at first, but that she eventually added it because the digital asset has long been a passion of hers. While Lennon did not notice an increase in responses to her profile as a result of adding Bitcoin, she has had some matches who have piqued her interest due to shared interests:
"People who are interested in Bitcoin have a lot in common." For example, if I post a photo of myself wearing a Bitcoin hat, it is likely that it will pique the interest of others who are interested in the subject. I've also jokingly tweeted that if I find someone with the word "Bitcoin" in their dating profile, I've found my soulmate. But it does demonstrate a shared interest and the ability to connect and discuss a shared passion."
However, Lennon cautioned that using crypto terminology in your online dating profile could be detrimental. "Sometimes, I'll reframe things and say that I'm an attorney in financial technology, without mentioning Bitcoin or cryptocurrency, so that the entire conversation doesn't turn into Bitcoin and what I do for a living." "There are also those who continue to associate cryptocurrency with the false narrative that it is only used for criminal activity and money laundering, so it can be interesting to try to explain how you are a lawyer in the digital asset space," Lennon said.
Furthermore, while Lennon finds eToro's survey results interesting, she points out that many people in the crypto community are so focused on digital assets in their daily lives that they may want to have non-crypto-focused conversations in romantic settings. "When people find out what you do for a living, sometimes a date can only consist of wanting to talk about Bitcoin and how it works." That can get old and detract from the romance or fun of the date."
Ivan Perez, the owner of Multiplied, a crypto-focused public relations firm, told Cointelegraph that since adding "investing and working in crypto" to his online dating profiles, he's met three women who also work in the cryptocurrency space. While Perez acknowledged that commonalities can be advantageous, he also stated that each date he had with someone in the crypto sector felt more like work than pleasure. "All we did was talk about crypto," Perez explained.
Perez went on to say that having "crypto" in his online dating profile attracted the wrong kind of attention at times:
"Some girls will look at my profile and say, 'You work in crypto, how cool.' When we go on a date, the first 10–20 minutes are usually spent discussing how crypto works and what I do. Some women are only concerned with money. I've had a number of dates where the topic of cryptocurrency dominates the conversation."
Perez, for his part, explained that working in crypto can make dating difficult. "Now that NFTs are gaining mainstream attention, I've noticed that women at conferences are looking for crypto-rich individuals." This is infuriating because it causes you to doubt yourself. "Are these women interested in me or the industry in which I work?" Perez inquired.
Adding cryptocurrency to a woman's online dating profile can also pose difficulties. Jessica Salama, community lead at GoodDollar Foundation, a non-profit initiative focused on financial education in digital assets, told Cointelegraph that while adding cryptocurrency to her profile has increased her desirability, it hasn't always been for the right reasons:
"I did get more matches, but then there were the'mansplainers.'" Working in Web3 — which still feels like a man's world — is fraught with difficulties. It's exhausting avoiding mansplainers at work and on Tinder."
According to Salama, "mansplainers" are men who assume women don't understand the fundamentals of the blockchain industry. Unfortunately, the crypto space is still heavily dominated by men, which can be frustrating for some women. On the plus side, Salama is aware that she is a part of a transformative industry, which can be advantageous when it comes to finding love. "At a friend's dinner, I met a great guy who is a crypto day trader and took a genuine interest and respect in my work and passion for Web3. We talked the entire night. "I can't say it was love because the relationship gradually fizzled out (we forked?) but he gave me that extra push to speak up for and own what I do and love," Salama explained.
NFTs: Digital-Age Personalised Love
Aside from cryptocurrency and dating, eToro's survey found that 8% of respondents would be interested in receiving a nonfungible token (NFT) as a Valentine's Day gift this year. This statistic, according to Cox, came as no surprise given the growth of the NFT market. Cox, on the other hand, noted that this finding was intriguing because it demonstrated that Millennials and Generation Z value identity-themed products. "The younger generation wants to own something in real life or in the Metaverse that reflects their personality — NFTs represent this."
As a result, there are a number of identity-themed Valentine's Day NFTs available this year. MYKA, for example, has created a limited edition NFT collection comprised of digital drawings on three of their best-selling jewellery pieces.
According to Ronnie Elgavish, vice president of global marketing at MYKA, more couples will give NFTs this Valentine's Day due to the rise of the Metaverse and desire for a digital identity.
Elgavish is supported by Ivan Sokolov, the founder of Mintmade, a platform that provides programmable templates for NFTs. According to him, more couples will send tokenised Valentine's Day cards this year, according to Cointelegraph.
Mintmade, according to Sokolov, allows users to mint a pair of custom NFTs with their and their partner's names on them. "These NFTs are user generated, which means they were created by the buyer." "The buyer enters two names on the platform and can mint the NFT with these names on it," Sokolov explained.
Aside from NFT Valentine's Day gifts, eToro's research discovered that nearly 20% of singles would be more interested in dating someone if they used an NFT as a profile picture on a social platform or dating site. "So, if your gift of an NFT doesn't work out, you can always use it to find a new March date," Cox joked.
Although cryptocurrency is appealing, there are still safety concerns
Although eToro's findings suggest that crypto terminology and features may make online dating profiles more appealing, safety is an important factor to consider when publicly mentioning cryptocurrency. As the industry matures, keeping a user's crypto safe has become a top priority.
To put this in context, according to a recent report from blockchain analysis firm Chainalysis, the intersection of cryptocurrency and crime will be a $14 billion industry by 2021. To avoid becoming a target, Justin Maile, manager of investigations at Chainalysis, told Cointelegraph that it's best not to flaunt that you own crypto — especially investing or holdings — on your dating profile. Scams aren't limited to dating apps, according to Maile. "Scammers use Meta (Facebook), Instagram, LinkedIn, Quora, Discord, WeChat, and other platforms to find their victims," he said.
Maile went on to say that while he thinks it's fine to publicly express an interest in cryptocurrency, no further details should be revealed. "Just as you wouldn't publicly share that you have a savings account and how much money is in it, it's best not to publicly share that you own crypto to avoid becoming a target."
Furthermore, Cox stated that eToro's findings show that adding the term "crypto" to a dating profile aids in determining a user's identity, but that online daters must be cautious about what they reveal. "Because there are good and bad actors everywhere, individuals must exercise caution when mentioning 'crypto' in their profiles."
