Bitcoin is one of the most popular currencies in the crypto market. The primary reason behind its popularity among ordinary households is the considerable returns to the investors.
Cointelegraph reports that in a survey conducted on Monday, more than one-fourth of the investors trade bitcoin regularly. The other currencies that the participants hold include Ethereum and Dogecoin. The remaining three-fourth of the investors will know more about Bitcoin via an exchange-traded fund.
Crypto Is Preferred Over Conventional Means
The survey’s sample size was 1,000, with the participants being in the age group of 25-64. Each participant possessed assets over $10,000 and earned at least $50,000. Individuals invest in cryptocurrencies either using a trading app or other means. Very few participants took the help of a trading expert during investment.
The number of people seeking the help of a financial expert saw a decrease from the last year. The number now stands at 11% compared to the previous year’s figures of 30%. Customers’ preferences in terms of investing in crypto have also increased significantly. The Cointelegraph report adds that nearly 200% more people want to buy bitcoin.
The individuals wish to invest in cryptocurrencies as opposed to a currency. 50% of the survey participants have decided to invest in bitcoin for the long term, while 77% have bought bitcoin in the past year. The results show that their interest in crypto trading has peaked over the last year.
Crypto Is Easy To Buy And Sell Anytime
Interest in bitcoin and other cryptocurrencies is not limited to a particular age group. Many individuals nearing retirement have preferred crypto as their primary field of investment. The crypto market has found its feet among investors and has become a substitute for the currency. We can witness the use in many common household transactions in near future.
The key reasons behind the steep rise of the investment graph of crypto are the ease with which one can trade it on multiple platforms and the shallow threshold amount. The experts forecast exponential growth in the number of investors worldwide in the crypto market in the coming years.