In 2021, 70% of cryptocurrency investors in the United States began investing: Report

Must Read

Crypto asset manager Babel Finance reaches $2B valuation

Despite recent swings in cryptocurrency values, many institutional investors appear undeterred. The growth of Babel Finance, which...

Taiwanese Crypto Firm XREX Plants a Flag on European Soil

European Union (EU) member state Lithuania has approved a ‘Virtual Asset Service Provider’ license for Taiwanese blockchain fintech project...

Weekly Institutional BTC Outflows Hit $154 Million Last Week

BTC investment products saw a significant jump in outflows last week as institutional investors showed a glimpse...

46% of respondents claimed they had $1,000 or less in cryptocurrency, while another 25% said they had $1,000 to $10,000.

According to a recent poll, most digital currency holders in the United States made their first cryptocurrency investments only last year.

As per the Crypto Perception Report 2022 by Huobi Group, the operator of major cryptocurrency exchanges Huobi, almost 70% of crypto hodlers in the United States began investing in digital currencies like Bitcoin (BTC) 2021.

In mid-December 2021, the business asked over 3,100 American adults to examine respondents’ understanding of crypto, their thoughts on the crypto market’s growth in 2021, and more.

According to the poll, 68 percent of respondents had their first cryptocurrency exposure over the previous year, while another 21% began investing in crypto within the last two years. Within the last four years, 12 percent of respondents made their first cryptocurrency investment, while 9 percent started investing in cryptocurrency over four years ago.

However, as per the poll results, respondents did not invest much in cryptocurrency. A total of 46% of those polled said they had $1,000 or less invested in cryptocurrency. Another quarter of respondents indicated they had between $1,000 and $10,000 in cryptocurrency.

The poll also revealed that there is still a lot of suspicion around the crypto business, with 42% of respondents believing that investing in crypto is too hazardous. In addition, the absence of market rules was also a source of worry for 34% of interviewees, while 24% said they didn’t have enough money to invest in cryptocurrency.

According to Huobi Group global strategy director Jeff Mei, the emergence of industries like decentralized finance and nonfungible tokens will make 2021 a major year for crypto.

However, we still have a long way to go before mainstream adoption will happen. Once more people take the time to understand the industry and there’s more clarity on global regulations, we can expect to see a spike in participation,” he added.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Crypto asset manager Babel Finance reaches $2B valuation

Despite recent swings in cryptocurrency values, many institutional investors appear undeterred. The growth of Babel Finance, which...

Taiwanese Crypto Firm XREX Plants a Flag on European Soil

European Union (EU) member state Lithuania has approved a ‘Virtual Asset Service Provider’ license for Taiwanese blockchain fintech project XREX. The decision enables the...

Weekly Institutional BTC Outflows Hit $154 Million Last Week

BTC investment products saw a significant jump in outflows last week as institutional investors showed a glimpse of panic. According to a...

Almost $1 Trillion Wiped From Crypto Markets Over Last 7 Weeks – Tether Continues To Bleed

Crypto markets have continued to haemorrhage since early April this year, as they are pushed down by most other asset classes during...

Cryptocurrency tax firm CoinTracker announces foray into Indian market

Cryptocurrency portfolio tracking and tax compliance platform CoinTracker on Wednesday announced its foray into the Indian market. The company's move...
- Advertisement -

More Articles Like This