According to the research, younger Americans know and invest significantly more in the digital asset market than the older age groups.
The cryptocurrency trading platform – Bakkt – polled more than 2,000 American citizens to explore why crypto investors entered the digital asset industry and what are the biggest obstacles in front of them. It also revealed which age groups feel the most confident in regards to such investments.
Crypto Is Not a Bite for The Elderly
Somewhat expectedly, young participants, more specifically those under 29 years old, were the ones who have invested the most in bitcoin and the altcoins showed the paper. They also seemed the most confident and knowledgeable. In contrast, People above 60 displayed almost no desire to deal with the asset class at all.
Breaking the results between the genders, it becomes clear that men are more active and better educated than women. For example, 46% of the female participants thought the only way to invest in bitcoin is to pay the full price of the coin (nearly $65,000 at the moment of writing), while this percentage is 37% among the males.
It is also worth mentioning what the crypto owners intend to do with their holdings. 58% answered they want to keep them for the long-term, or said in other words – they are HODLers. 43% stood on the opposite corner by planning to sell when they can make a short-term profit.
By the looks of it, most investors are just dipping their toes in the crypto universe as only 5% have allocated more than $1,000 in the market, while 28% have bought tokens for $200 or less.
In addition, the participants who do not have any exposure to bitcoin or the altcoins gave their reasons for having such a stance. “Too much volatility” ranked as the most significant challenge with 32%, while “I don’t know where to invest” was second with 24%. However, 32% of the non-investors admitted they are willing to jump on the crypto bandwagon in the next six months.
The USA – The Most Crypto-Ready Country
According to another research, the world’s largest economy is the most prepared nation for digital asset adoption.
The survey combined several statistics such as annual crypto Google searches per 100,000 people, crypto queries yearly increase, and the number of ATMs to place the USA in the first position with an index of 7.13 (out of 10). Cyprus ranked second with 6.47, while the rest of the top 5 countries were Singapore (6.30), Hong Kong (6.27), and the United Kingdom (6.06).
Speaking of numbers of crypto ATMs, the USA, with its 17,436 machines, leads with a sizeable difference. The second position belonged to its northern neighbor – Canada – which has only 1.400 ATMs.