Bakkt, a cryptocurrency trading platform, surveyed more than 2,000 Americans to find out why they chose to invest in the digital asset market and what the greatest obstacles are facing them. The survey also revealed the confidence levels of different age groups in relation to these investments.
Crypto is not a bite for the elderly
It was not surprising that young participants, i.e. those less than 29 years, invested the most in Bitcoin and altcoins. They were also the most confident and well-informed. Contrary to this, people over 60 showed almost no interest in dealing with the asset class.
When you compare the results of the genders, you will see that the men are more active than the women and have better education. For instance, 46% of female participants believed that the only way to invest bitcoin was to pay its full price (nearly $65,000 as of writing), while 37% of male participants believe this.
It is important to mention what crypto owners plan to do with their holdings. 58% said they wanted to keep their holdings for the long-term. In other words, they are HODLers. 43% said they would sell when they make a profit in the short-term.
It appears that most crypto investors are only just getting started in the space. Only 5% of those who have invested more than $1,000 have purchased tokens for $200 or less.
Participants who have not had any exposure to altcoins or bitcoin were also asked why they chose this stance. With 32%, “Too much volatility” was the biggest challenge. “I don’t know where I should invest” came in second place with 24%. However, 32% said they were willing to get on board the crypto train in the next six-months.
The USA – The Most Crypto-Ready Country
Another study found that the largest economy in the world is also the one most ready to adopt digital assets.
This survey combined many statistics, such as crypto queries per 100,000 people and annual crypto Google search results. The USA was ranked first with an index score of 7.13 out of 10. With 6.47, Cyprus was second. Hong Kong (6.27), Singapore (6.30) and the United Kingdom (6.06) were the other top five countries.
The USA leads in terms of number of crypto ATMs with 17,436 machines. This is a significant difference. Canada, its northern neighbor, holds the second place with 1.400 ATMs.
Marla Brooks – Financial Analysis
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