Top 3 reasons why investors own cryptocurrencies

2023-10-11 14:18

Most individuals believe crypto is a good investment People are attracted to new technology Lack of trust in authorities turned people to crypto

The cryptocurrency market’s popularity rose exponentially in the last decade or so. The difference is stunning if one looks at the market capitalization of the entire industry today and compares it with, say, ten years ago.

So, knowing what drives people to invest in cryptocurrencies is interesting.

Guess no more.

A study by the Federal Reserve, called Federal Reserve’s 2022 Diary of Consumer Payment Choice, sheds light on this topic. So here are the main three reasons why investors hold crypto:

Great potential investment People are interested in new technologies Some do not trust the US government or the US dollar Most individuals own crypto as an investment

The overwhelming majority of individual investors own cryptocurrencies because they believe it is a good investment. More precisely, 67% of investors are crypto owners only from an investment perspective.

While this is impressive, it also tells much of the industry. It means that most investors are just speculating and hoping for higher prices than the ones they paid.

Coupled with the fact that only 0.3% of the respondents said they use it to buy goods and services in the United States, it tells much about the main reason people invest in cryptocurrencies.

Many own crypto because they are interested in new technologies

Another reason to own crypto is that investors want to have exposure to new technologies. 20.7% of investors are interested in new technologies, which is a good enough reason for them to buy and hold cryptocurrencies.

Lack of trust in the US government or the US dollar

1.6% of investors do not trust the US government or the US dollar. While not a big number, it reflects investors’ belief that the US government’s policies failed to support the local currency, and thus, investors turned to cryptocurrencies.

The rest of the respondents fell into other categories, which sum up to 8.6%.

The post Top 3 reasons why investors own cryptocurrencies appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Internet of People (IOP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0594539 (-100%)

people crypto turned decade authorities trust cryptocurrency

people crypto → Результатов: 126


Фото:

Pirated Content and Software Drives Malicious Crypto Mining, Says New Report by Kaspersky Lab

Cryptocurrency mining malware attacks, which infected over five million people in the first three quarters of 2018 alone could be entering your systems via pirated software and content. Malicious cryptocurrency mining is the biggest threat to internet users in 2018, leaving behind ransomware which had been most prevalent over the last few years.

2018-11-30 15:59


Messari Opens Crypto Project Disclosure Registry At CoinDesk’s Consensus Invest Event

An open source crypto database called Messari, which is based upon the U. S. Securities and Exchange Commission (SEC) EDGAR database, is set to launch a disclosure registry to projects that issue tokens in an effort to publicly share information that could be harder for people to find otherwise. The announcement was made today at […]

2018-11-28 09:12


Crypto Community Calls Out Roger Ver’s Bitcoin.com For Misleading ‘Bitcoin’ Information

Bitcoin.com is a website that most people rely on to learn about Bitcoin Cash. The website, owned by Roger Ver, has recently gotten into some hot water in the crypto community. Right now, they are accusing Ver of having “misleading language in its Bitcoin credit card purchasing section,” according to SludgeFeed. The section of the […]

2018-11-27 17:54


BitValve ICO

In BitValve, we will create the most advanced P2P Exchange platform, direct competitor of Localbitcoins and Paxful, with key advantages that will change the way people trade Peer to Peer, by combining all the advantages of the current exchanges and addressing the disadvantages that keep the market from reaching its full potential.

2018-11-26 14:22


John Mcafee to Panic Sellers: “Fcking Relax”… Every Bear Market is ” Followed by a Glorius Spring”

“F*cking Relax” Perhaps these two words are the shortest and most important advice that John McAfee can give the crypto-verse at this time. The popular influencer and one of the most controversial personalities of the crypto community went to Twitter to address the public regarding the abrupt drop in prices of crypto assets.

2018-11-22 06:29