Looking at the past decade, nothing has proven to be more influential than cryptocurrencies to current day financial markets. Not only has the price for cryptocurrencies risen incredibly, but even countries are considering their benefits. With a dedicated decentralized network, Cryptocurrencies have proven to be safer than most other financial markets.
And despite the reputation that they might have, people can’t happen to stay away from it. The market sees hundreds of thousands of new investors coming in and trying their luck with cryptocurrencies. In fact, this new report from Survey Monkey shows just how many people have started investing in cryptocurrency.
It is obvious that there are a lot of people investing in crypto right now given how the price has started to rise. But you never really know how many people have invested in it. Following the stigma around the market, people can be a little hesitant when confessing if they have invested in cryptocurrencies. Given that crypto is also seen as a very risky investment, people will usually not tell anyone because they are worried that people will think that they cannot make sound investments.
According to the new survey, over 11% of American citizens have invested their money into cryptocurrencies. While the amount that they have invested is not clear, they have invested at least some of their money into cryptocurrencies. The survey also showed that the demographics who buy cryptocurrencies are different as well.
It showed that men are more likely to buy cryptocurrency than women. Almost 16% of male investors have invested into cryptocurrencies compared to their 7% female counterpart. A lot of this can be attributed to the fact that female investors are less inclined to take on riskier investments.
The survey also showed that younger investors are more inclined to buy cryptocurrencies than older ones. 15% of people aged between 18 and 35 have invested some amount into cryptocurrencies. However, only 11% of investors aged between 35 and 64 have invested money into cryptocurrencies. Finally, only 4% of people over the age of 65 have invested in cryptocurrencies. The main reason for such a major divide is either a lack of faith in what they are investing in, or a lack of knowledge about the market. In groups older than 35, it is usually both the cases.
The rise in investors in cryptocurrencies shows just how far it has come. It is not hard to believe that the market will grow even bigger, especially considering that countries like El Salvador and Cuba have recently taken to accepting cryptocurrencies like BitCoin as a legal tender. And over time, it is not too hard to believe that many more people will be investing in cryptocurrency.