Seventy-five percent of those surveyed believe that the price of cryptocurrencies will continue to increase, while 32% consider that those assets diversify their wallets. Borrowing money from friends or family is a solution that investors have turned to enter the market.
A recent survey by GamblersPick reveals that American investors would not withdraw their cryptocurrencies even at critical times. According to the study, US cryptocurrency investors have put an average of USD 1,707 in such assets.
Thirty-seven percent of the respondents admitted that they would not withdraw their cryptocurrencies even if they needed to cover large bills or payments. Regarding their plans for the next 12 months, investors said they plan to allocate an additional USD 1,645.
American Investors Would Keep their Cryptocurrencies
GamblersPick surveyed 1,000 US cryptocurrency investors, 37% of whom would keep their cryptocurrencies anyway. However, 51% said that not even luxury purchases would tempt them to withdraw their cryptocurrencies.
The vast majority of investors surveyed, 75%, believe that the price of cryptocurrencies will continue to rise in the future. Thirty-two percent consider that those assets serve to diversify their wallets, while twenty-four percent said they would achieve high returns.
A Growing Number of Investors Buy Cryptocurrencies with Credit Cards
The cryptocurrency market offers new and better investment methods as adoption grows and interest becomes massive. The purchase of cryptocurrencies with credit cards is one of the trends that has increased.
The demand for cryptocurrencies among American investors has been growing significantly. For that reason, many of them money from friends or relatives to enter the market. The results show that one in four respondents has bought cryptocurrencies through their credit card.
Twenty-one percent of the 1,000 respondents plan to go into debt to buy cryptocurrencies. Meanwhile, more than 20% have decided to use their bank savings or refinance their home.
Various Groups that Invest in the Cryptocurrency Market
Baby Boomers are the group that has invested the most in the cryptocurrency market, while Generation Z ranks last. The former, born between 1949 and 1968, have borrowed more than USD 4,000 to buy cryptocurrencies.
The Millennials, born between 1981 and 1993, have borrowed almost USD 500 from banks or relatives. With that, those men and women seek to make their way into the cryptocurrency system.
American men own an average of USD 1,940 worth of cryptocurrencies, while women have around USD 1,375. On average, the respondents intend to keep their crypto assets for between six months and five years.
Main Influences that Lead to Investing in Cryptocurrencies
The survey by GamblersPick included questions about the main external influences on investing. The Americans surveyed chose Elon Musk as the most influential. However, they also took into account contributions from investor Warren Buffett and rapper Snoop Dogg.
Finally, many American investors receive information through forums or social networks. They mainly consult the Reddit, Twitter, YouTube, and Facebook platforms to learn how to operate on the market.
By Alexander Salazar
