Copy link
Increase text size
Decrease text size
Link copied

More than a third of crypto investors not doing enough research before entering the market says survey

A survey by Cardify revealed that only 16.9 percent of investors fully understand cryptocurrencies.

Image by: QuoteInspector.com / Flickr

Fri, 05 Mar 2021, 08:46 am UTC

With the market rally sending the prices of popular cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) to new all-time highs, more investors are drawn into crypto. However, a new study revealed that some of the newcomers are not doing the necessary research before investing in these volatile digital assets.

A recent survey by Cardify revealed that only 16.9 percent of new investors “fully understand” the value and potential of cryptocurrencies, CNBC reported. The study was based on data collected between February 5 and February 12 involving 750 investors.

Surprisingly, the survey revealed that around a third or 33.5 percent of crypto buyers have either zero knowledge of the crypto market or those who call their level of understanding as “emerging.” This lack of understanding of the risks associated with the volatile asset class could place these investors at a disadvantage.

However, this lack of knowledge has not deterred newbies from entering the market. The study revealed that 40 percent of all crypto purchases were made by investors new to cryptocurrencies as trading in digital currencies became more accessible to the public via the crypto-trading features of PayPal and Square.

Fear of missing out on potential gains is one of the reasons for the entry of many new crypto investors into digital currencies. The survey revealed that 1 in 4 crypto investors entered the market hoping they could earn short-term financial gains.

Despite deciding to enter into the crypto market, the majority of the investors are not entirely confident about digital currencies. More than half of the survey’s participants revealed that their biggest concern is losing money due to the volatility of crypto prices.

Regulators worldwide are increasingly concerned about the trend and have tried to prevent people without sufficient knowledge of digital currencies from investing in them. For instance, Thailand’s Securities and Exchange Commission proposed additional requirements for new crypto investors such as a minimum age, a minimum annual income, and proven trading experience.

However, the regulator later backtracked after receiving a deluge of criticisms from the public. “I proposed the criteria that many considered too tough to prompt people to express their opinions on the matter and did not intend to say these are the exact qualifications that will be implemented,” said Ruenvadee Suwanmongkol, secretary-general of the SEC.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2021.03.10 07:25:35
I am a crypto currency trader and i make over 200% daily trading all day and night and also by passing even when market is down and others are resting , If you are interested, I can teach you how to trade and also help you achieve your goal in life with crypto i can turn 4 btc into $3650,000.00 in less than four weeks, now that bitcoin has high prices...please note that crypto currency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins , bitcoin can also be traded for Ethereum, Litecoin, United States Dollar, Ripple, Euro, IOTA, and other stocks you need to put to trading on a daily basis with a very correct strategy and a target of profit as you get into the trading market with your capital. Also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more info....contact me on WhatsApp +1(206)-742-5358
  • 0
  • ·
  • 0
  • sergio2022
  • 2021.03.06 21:35:52
I DON'T BUY BITCOIN, I EARN IT DAILY FROM MY INVESTMENTS WITH THIS PLATFORM. https://cryptoforex345.com/
✅NO REGISTRATION FEE
✅INSTANT WITHDRAWAL
✅5% TO 15% REFERRAL BONUS IF INTERESTED.
 I EARN MORE THAN $1000 DAILY WITH THIS PLATFORM AND IT IS 100% SAFE AND GUARANTEED.  TESTIFY THE RELIABILITY OF THE PLATFORM YOURSELF WHEN YOU SIGN UP AND EARN.
CONTACT CUSTOMER CARE VIA  WHATSAPP +44 7451 272215 FOR MORE DETAILS.  
  • 0
  • ·
  • 0
  • KATHERINE04
  • 2021.03.06 05:27:21
Its a good thing to invest but Bitcoin or stock market is not a money making machine you must have heard story about many investors who made their fortune through the market .Educate yourself, try handle the basics ,before making your first investment ,take your time to learn the basics about the stock and individual securities composing the market.
cause anyone can lose money don't fall back if you do, know somedays you make huge profits somedays its low .
Speak to ( Bitcoin wizzard 101 at goggle mail ) for counsel, bitcoin recovery ,or you loose your funds on a trade business with a fake broker ,this expert team has a lot to offer ,talk to a recovery expert i can share his line what's app +1 (619 320-5714) and make sure you Invest only your surplus funds. The biggest mistake newbie investors make is to invest all there saved money trust me they can’t actually afford to lose...
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $54,439.00 (-2.02%)
  • Ethereum (eth) $2,547.02 (+6.81%)
  • Binance Coin (bnb) $566.79 (-2.73%)
  • XRP (xrp) $1.30 (-5.19%)
  • Tether (usdt) $0.992902 (-0.78%)
  • Bitcoin (btc) $54,439.00 (-2.02%)
Apr 22, 2021 (Thursday)
12:35
BTC Surges by 1.01% Within 5 Mins, Marking 55,467.68 USDT
11:18
BTC Surges by 1.04% Within 5 Mins, Marking 54,529.4 USDT
10:00
BTC Tops List Of Crypto Net Outflow With $882.9 Mln In Past 18 Hours
04:02
BTC Surges by 1.18% Within 5 Mins, Marking 54,054.17 USDT
02:30
Crypto Market Sentiment On Apr 22: Market In "Greed"
02:03
BTC Drops by 1.16% Within 5 Mins, Marking 53,598.2 USDT
02:00
BTC Tops List Of Crypto Net Outflow With $437.8 Mln In Past 10 Hours
01:41
Data Summary Of Boboo.com's Perpetual Contract: April 22
00:09
BTC Drops by 1.15% Within 5 Mins, Marking 53,266.01 USDT
Apr 21, 2021 (Wednesday)
22:42
BTC Drops by 1.09% Within 5 Mins, Marking 53,883.2 USDT
14:33
BTC Surges by 1.0% Within 5 Mins, Marking 56,037.7 USDT
08:06
BTC Drops by 1.15% Within 5 Mins, Marking 54,803.65 USDT
02:00
DOGE Tops List Of Crypto Net Outflow With $898.86 Mln In Past 10 Hours
01:47
Data Summary Of Boboo.com's Perpetual Contract: April 21
Apr 20, 2021 (Tuesday)
17:27
BTC Surges by 2.71% Within 5 Mins, Marking 55,666.64 USDT
16:56
BTC Surges by 1.06% Within 5 Mins, Marking 55,760.4 USDT
11:54
BTC Surges by 1.02% Within 5 Mins, Marking 56,385.72 USDT
10:19
BTC Surges by 1.39% Within 5 Mins, Marking 55,817.3 USDT
10:00
BTC Tops List Of Crypto Net Outflow With $342.82 Mln In Past 18 Hours
09:20
BTC Drops by 1.0% Within 5 Mins, Marking 54,867.21 USDT
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft