New Survey: High-Earning Millennials the Newest Wave of Crypto Investors
A recent survey unveiled by the blockchain-related company Clovr, revealed that high-earning millennials are more prone to invest in cryptocurrencies than other users.
According to data from the U.S. Bureau of Labor Statistics, the median weekly earnings in the second quarter of 2018 for a man between the ages of 25–34 was $857, or over $44,000 annually.
Per the survey, out of the total who have invested in cryptocurrencies, men are way ahead with 43 percent as compared to 23 percent of women. 47 percent of individuals with an annual income not less than $75,000 annually have invested in digital assets, while less than a quarter of those earning under $25,000 said they can afford to significantly invest in crypto.
Almost 40 percent of respondents cited peer influence as the main reason for investing in crypto, and over 35 percent have reportedly been lured into the crypto market by the “Fear of Missing Out” (FOMO).
An encouraging signal for the industry emerging from this survey figures shows that one out of three US respondents say that they would be far more interested in crypto investment than traditional stocks and bonds with as many as 80% of the respondents identifying investment in cryptocurrency as less risky than the standard options available.
When asked their opinion on investment in crypto, almost 80 percent of respondents answered that they consider investing in crypto as a positive form of risk-taking. The study further states that 1 in 3 think that crypto investment is an innovative option compared with stocks and bonds.
The survey has collected information from over 1,000 individuals in the United States that were ranging between 18 and 80 years old.
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