Gold IRA Guide magazine interviewed more than 1,000 adults aged 50+. Some of them are interested in investing with bitcoins, but do not know how to get started

A survey conducted by the Gold IRA Guide magazine, dedicated to publishing information related to precious metals, indicated that about 3% of US retirees affirmed to have some bitcoins (BTC) on their wallets. However, 33% of the retirees interviewed said they did not know the cryptoactive.

The information was published on April 17th. It had as sample more than 1,000 US retirees aged 50+, from coast to coast, to whom the interviewers asked questions related to the investment in the creation of Satoshi Nakamoto.

According to the results of the survey, the remaining 56.7% of the respondents (slightly more than one in two) knew Bitcoin, but were not interested in investing and only around 3.5% said that they would like to invest in bitcoins, but they did not know how to start. This would show that the youngest population is the main one in using digital assets, which were born ten years ago with Bitcoin.

Also, the survey found that 4.5% of retirees expressed interest in investing in bitcoins, the main cryptocurrency worldwide, but they decided to first observe the behavior of this crypto, in lieu of deciding to invest in it.

Specifically, 32.9% of the interviewed said they “have no idea what Bitcoin is”. This result is far from the form of investment of the so-called “millennials”, or generation of the year 2,000 and up. Another study showed that younger people defend the use of cryptocurrencies. Approximately 25% of them already exchange crypto-assets and another 31% would be interested in acquiring cryptocurrencies.

Educating the Community

The Gold IRA Guide magazine also used Google Surveys. The specific question it asked was: How do you feel about investing in Bitcoin? Some graphics of the study provide a lot of insights into the investing mind of the retiree and what the defenders of Bitcoin might be able to do around this demographics’ opinion.

Taking into account the results of the interview, the crypto community would have to work on educating retirees about the use of cryptoactives, since retirees are always interested in alternative assets that can help them to diversify their portfolio against market fluctuations.

Volatility in cryptocurrencies prices is perhaps one of the aspects that some citizens have seen as negative. However, that same volatility could be one of the most attractive points for young investors. The truth is that there are stablecoins to minimize these risks and that, whilst the cryptocurrency market continues to take shape, blockchain technology is beginning to be used both in the medical industry and in public administrations in different countries, for efficient contracting, exports, and in other fields.

Recently, the trade publications Global Custodian and The Trade Crypto published a joint study which found that 94% of donations during 2018 were destined to investments related to cryptocurrencies.

By María Victoria Rodríguez

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