Majority of Crypto Investors are Young and Male, Survey Reveals

A recent survey conducted among 1,000 Americans on the subject of cryptocurrencies and people’s attitudes towards it has revealed some interesting results.
Clovr, known for its clamor and campaign to foster mainstream blockchain adoption, reported in its just-concluded survey that a larger percentage of cryptocurrency investors in America are young, male, and comparatively wealthy.
With the main intent of exploring people’s thoughts and opinions concerning investing in digital currencies, the company conducted a survey of 1,004 Americans using the Amazon Mechanical Turk Platform.
While almost 40% admitted they got into the boat because they saw people they know doing it, more than 75% claimed they had a solid understanding of what cryptocurrencies were. Using 1000 participants as a case study might be a little bias, but the results only show that majority of American citizens have an idea or a certain level of exposure to the concept of “cryptocurrency,” with Bitcoin most often than not being the major cryptocurrency being associated with the idea.
Also, stemming from the above poll, about 60% of the participants indicated that they could be comfortable explaining the concept of digital currencies to a novice if the situation arises.
On being quizzed about why they got into cryptocurrency investment in the first instance, and why they are still involved; more than half of the respondents conveyed the belief that cryptocurrencies were set for huge returns of investment in the near future, with 43% banking on it to become the “future of money.”
The most common thread, however, that seemed to apply to all clusters that emerged from the result, was the particular reason of investing because of a “fear or possibility of missing out,” with other instances even down to peer pressure.
The most shocking result? That more than 41% of American investors are young Millennials with at least $100,000 is a surprising result that might not have been earlier expected.
While more than half of crypto investors considered themselves as innovative and forward-thinking, three-quarter attributed the choice of others not to invest as the need to play their cards safe.
Clovr, is the not the only one carrying out surveys related to opinions on virtual currencies as different firms keep organizing polls and surveys for the purpose of analysis. Just recently, Law firm Foley & Lardner LLP revealed in its own conducted survey that majority of crypto traders and investors tout Bitcoin as the cryptocurrency with the biggest mainstream adoption potential.

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