More U.S. Crypto Investors in Hodl Than Short-Term Profits

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Source: Adobe / Daniel

Some 48% of U.S. consumers surveyed report having invested in cryptoassets in the first half of 2021. Of those who have already purchased cryptocurrency, 58% see it as a long-term investment, potentially supporting market volatility. lower, while 43% plan to sell their crypto for short-term profit, according to a recent survey commissioned by the digital asset market Bakkt.

The US Consumer Crypto Survey online platforms collected responses from more than 2,000 US consumers last July.

If you’ve bought cryptocurrency in the past 6 months, what do you plan to do with it (select all that apply)?

Source: Bakkt

Survey results show that 32% of respondents say too much volatility is the main obstacle to buying crypto, while 24% say they don’t have the know-how to start investing in crypto. crypto-assets.

A relatively small group of 11% say crypto prices are currently high, and this is the smallest hurdle identified across any age group, according to Bakkt.

The purchasing power of cryptos is important for 24% of those polled who say they plan to use it for online purchases, while 12% say they plan to use it for in-person purchases. Some 11% aim to use crypto to send it to their peers, according to the survey.

Of the 48% who bought crypto in the first half of this year, the largest group, at 19%, owns $ 100 or less of crypto. Only 5% have more than $ 1,000 worth of crypto.

Costs and fees are the most important factor in deciding which platform to buy a crypto asset from for 27% of respondents, while 26% say they want a platform that is easy to use.

The survey indicates that 37% of respondents aged 18-29 and 30-44 who have not bought crypto in the past six months are somewhat or very interested in investing in this asset class, while that only 25% demonstrate the same approach within 45 years. 60 years age group, as well as 19% in the 60+ age group.

Up to 69% of those surveyed who own crypto are 44 and under.

Survey results show Gen Z and Millennials are embracing crypto and other forms of payment overwhelmingly, but the biggest obstacle in their path has been the lack of understanding of how to get started and the concerns. regarding market volatility, said Gavin Michael. , CEO of Bakkt.

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Read more: – Lack of knowledge is more important than volatility for crypto newcomers – Estimated number of crypto users reaches 221 million, boosted by Altcoins

– Knowledge of crypto on the rise, encouraging investment – Survey – Developing economies and better educated people lead the crypto ‘space race’

– Americans are investing more and more in crypto even during the downturn – Pre-crash survey: 70% of institutional investors consider investing in crypto

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