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

The overwhelming majority of cryptocurrency homeowners in the USA 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 consider the crypto market rise in 2021 and extra.

The survey discovered 68% of respondents bought their first crypto publicity throughout 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.

In response to 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% stated that they held between $1,000 and $10,000 price of crypto.

The examine additionally recommended that there’s nonetheless plenty of skepticism across the crypto business, with 42% of respondents feeling it was too dangerous to spend money on crypto. 34% of interviewees had been additionally involved concerning the lack of market laws, whereas 24% of respondents famous that they didn’t have sufficient capital to spend money on crypto.

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Huobi Group world technique director Jeff Mei stated that 2021 was a giant yr for crypto because of the rise of sectors corresponding to decentralized finance and nonfungible tokens.

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