70% of US crypto holders began investing in 2021: Report

The overwhelming majority of cryptocurrency house owners in america made its first-ever crypto investments simply inside final yr, in keeping with a brand new survey.

About 70% of crypto hodlers within the U.S. began investing in cryptocurrencies like Bitcoin (BTC) in 2021, in keeping with the Crypto Notion Report 2022 by Huobi Group, the operator of main crypto trade Huobi.

The corporate polled about 3,100 American adults in mid-December 2021 to evaluate respondents’ data of crypto, what they give thought to the crypto market rise in 2021 and extra.

The survey discovered 68% of respondents acquired their first crypto publicity inside the final yr, whereas one other 21% of these began investing in crypto as much as two years in the past. 12% of respondents made their first crypto funding inside 4 years, whereas 9% started investing in crypto greater than 4 years in the past.

Supply: Huobi Group

In keeping with the survey’s findings, respondents didn’t make investments an excessive amount of in crypto, although. 46% of pollees reported having $1,000 or much less invested in cryptocurrencies. One other 25% mentioned that they held between $1,000 and $10,000 price of crypto.

The research additionally urged that there’s nonetheless a whole lot of skepticism across the crypto business, with 42% of respondents feeling it was too dangerous to put money into crypto. 34% of interviewees have been additionally involved in regards to the lack of market laws, whereas 24% of respondents famous that they didn’t have sufficient capital to put money into crypto.

Associated: New survey reveals 83% of Millennial millionaires now personal crypto

Huobi Group international technique director Jeff Mei mentioned that 2021 was an enormous yr for crypto because of the rise of sectors comparable to decentralized finance and nonfungible tokens.

“Nevertheless, we nonetheless have an extended method to go earlier than mainstream adoption will occur. As soon as extra individuals take the time to grasp the business and there’s extra readability on international laws, we are able to count on to see a spike in participation,” he mentioned.