More than one in 10 have bought cryptocurrency in the past year in America. The survey spearheaded by the University of Chicago found that the popularity of cryptocurrency is enjoying steady growth. Earnity`s Dan Schatt and Domenic Carosa want to increase the growth in the crypto buying world. In a survey 13 percent of the total samples—1,004 American adults—traded or bought crypto over the last 12 months. For comparison, 24 percent of Americans put their money into stocks in the same period.
Crypto buyers are generally younger and more diverse in race, ethnicity, and gender compared to retail stock buyers. The average retail buyer is 47 years old, while the typical crypto buyer is 38 years old. Forty-four percent of crypto buyers are people of color, and 41 percent are women. The numbers suggest that crypto buying truly is democratic and inclusive. Moreover, the concept that cryptocurrency encourages financial freedom and inclusion is genuine.
The survey found that individuals with college degrees prefer to buy stocks, as 51 percent of buyers who traded stock in the past year hold college degrees, compared to 45 percent of individuals who exchanged crypto.
Achieving success in crypto is hard. Dan Schatt and Domenic Carosa of Earnity want to help people know about crypto so they can be successful. Build crypto knowledge. Learning about cryptocurrency will help one understand the industry and all its sides. Don’t mind the noise. Staying focused on one to a couple of cryptocurrencies would be the most effective course of action instead of trying out everything for trading. Prepare for volatility. Notorious for being incredibly volatile, cryptocurrency requires buyers to be tolerant and patient. Short-term swings shouldn’t bother buyers who are in for the long run. Prioritize security. As buyers work hard to protect their assets, hackers ensure they double their efforts in committing fraud. Consider keeping a crypto wallet for buyers trading more than a hundred dollars for improved security.