Survey Shows Crypto Investors Are Mostly Rookies And Have Much Skepticism
Cryptocurrency is attracting a growing swath of investors but it is taking longer for them fully buy into digital assets
Although the cryptocurrency market seems to exponentially expand in terms of invested dollars every year, that same growth hasn’t necessarily applied to the number of investors. In fact, a recent survey showed that a significant number of crypto investors are not only new to the space, they hold a noticeable amount of skepticism in what they are investing in.
Cryptocurrency exchange Huobi Group recently conducted a survey of more that 3,000 crypto investors. The company was founded in China, where it is still their largest exchange, but currently has offices in the United States, South Korea, Japan and Hong Kong. Seeking to identify investor experience and sentiment, they got some surprising results according to CryptoPotato’s Dimitar Dzhondzhorov.
Just under a third of respondents confirmed they were currently holding some crypto in their portfolio. A whopping 68% of those who answered indicated they began investing in crypto for the first time in 2021, showing just how much the space grew during the past year.
Newer entries to the crypto space like the Metaverse and NFTs registered strong familiarity, as 50% had some familiarity with them, Meanwhile, only 25% could say they knew of Decentralized Finance (DeFi).
Those holding crypto investments had a wide range of money committed to it. 46% have less than $1,000, but 25% held between $1,000 and $10,000.
Unfortunately, the survey showed some significant fear and skepticism in crypto. 34% cited concern over the lack of regulation, while 42% called the asset class “too risky.” A full quarter of respondents reported feeling that they believe crypto is a “scam/bubble.”
With the survey data truly being all over the board, it’s a strong sign that while the space is continuing to grow, there is still a general lack of comfort and topic knowledge. The seeming dichotomy of increased interest and strong doubt appears to indicate that people are still proceeding, albeit cautiously, perhaps as a result of strong…