Cryptocurrencies are many different things to many different people. For some, they may be a “get rich quick scheme” for others a “scam.” But in order to find out what people really think they need to be asked. A recent poll with just over 1,000 American participants showed some interesting results.
What is crypto?
Not the easiest of questions at the best of times, however, 76% claim to know what cryptocurrencies are, and a slightly smaller 62% would be happy explaining the concept to others. 21% stated that they were kind of aware of what a digital asset was, and only 3% claimed to know anything about the phenomena.
How does crypto make you feel?
The leading emotion which arises in people at the thought of crypto was established to be uncertainty, a whopping 69.8% associated it with crypto. Other emotions at the top of the list were confusion, excitement, anticipation, and hope.
Why invest or not to invest?
Reasons to invest or avoid investing in cryptocurrencies are numerous. Some of the reasons that those in favor of investing give are: it is possible to get a big return from the investment (51.6%), that crypto is the money of the future (42.6%), and because others are also investing (39.4%). 58.1% of those that are skeptical of investing into crypto believe that it is too risky, 48% think they don’t have enough knowledge about the sphere and 29.7% go with their gut feeling which is distrustful of digital assets.
In an exploration of traits that are associated with those who are ready to deal with crypto a very intuitive result came to light. The more risky one is by nature, the more likely they are to invest in crypto, and vice-versa, the less risky one is and prefers to play it safe, the less likely they are to invest in crypto.
Who are the people investing in crypto?
If we were to generalize the crypto investor into a single person, we would get a 25-35-year-old male who lives in the city and earns $75,000 to $99,999 thousand a year.
Considering the volatility and novelty of the market it is not at surprising to see such a divide in opinion regarding crypto. It is possible that with time and an increase of crypto-awareness the number of people that trust and are interested in investing in crypto will increase.
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