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A large number of Americans are interested in making cryptocurrency purchases in the future, even with the prices of many coins declining during 2018.
The national online survey conducted by eToro global investment platform in the United States found that 69% of respondents expressed interest in cryptocurrencies or interested in learning more. 1,000 people, aged between 20 and 65, received the survey questions last September.
97% of Millennium and Generation X respondents said they would like to learn more about cryptocurrencies, which eToro in its press release indicated "a great opportunity to provide more formal training and structured resources".
The biggest obstacle to investment, with 44% of respondents, was the lack of education on the subject. Even among cryptocurrency investors, one-fifth said they felt they needed to improve their understanding.
The CEO of eToro U.S. Guy Hirsch said that the fall in cryptocurrency prices in the last year "has not hindered investor interest in the asset class and its potential: online investors are still keeping an eye on cryptocurrencies, but this survey revealed that there is a serious lack of educational resources available to those who would like to invest or learn more about cryptography. "
Among the millennials, which were considered the most expert on the subject, 40% indicated education as a primary obstacle to investment.
Dividing the results for the sexes, 54% of men admitted not to be expert in cryptocurrencies, compared to 76% of women. 51% of women gave such a lack of education as the main reason for not investing, while for men, the main reason was the volatility of coin prices, with 41% of them stating this. A relatively small 39% of male respondents gave instruction as the main reason.
Hirsch said of the results: "The investment gap between men and women is still quite net … [W]We are beginning to see that companies provide more financial services tailored to women, "adding that providing more education and resources would help" women feel comfortable in tapping into the asset class while still in its relative childhood. ".
Several generations had different attitudes towards hiring a financial advisor, with the more open-minded millennial investors to do so.
Among those who currently do not plan investments, 73% of millennials said that it would be more likely to invest in cryptocurrencies with a financial advisor, while 58% of Gen X and 49% of Baby Boomers indicated the same.
Hirsch said the results are "encouraging", with millennials considering long-term investments as they approach 40. "Financial advisors have many opportunities to tap into the crypt as an asset class. a question, "he said.
