Report: Most Cyptocurrency Investors are Clueless

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1. 90% of investors don’t know that Bitcoin(BTC) has a limited supply.
2. Only 10% of the investors know and understand basic concept of cryptocurrency.
3. 60% of the Americans tend to view cryptocurrency investment to be a risky mode of investment.

According to the results of a survey that was conducted in November of 2021, the majority of people who invest in cryptocurrencies do not have the slightest idea about how to invest in cryptocurrencies. Suprisingly 90% of these investors didn’t know that Bitcoin(BTC) has a limited supply.

About 10% of investors, then, understand what cryptocurrency is and how to put their money to work in the blockchain-based digital currency. In order to join the elite 10% club, you must read the white paper for the cryptocurrency you wish to invest in. Investors benefit from this because it enlightens them about cryptocurrencies and prepares them to put their money into them.

Second, before putting money into cryptocurrencies, investors should think twice about supporting fake influencers. Many con artists currently operating under the guise of “crypto influencers” on various social media sites are in fact engaged in fraudulent activity. Their only real advantage is the large number of people who follow them online. To avoid getting duped, you need to be able to tell the difference between legitimate investment advice and the promotion of Ponzi schemes.

Recently, CNBC has reported that 60% of the Americans tend to view cryptocurrency investment to be a risky mode of investment. While another 26% believe that it moderately risky to invest in cryptocurrency. Although most of the young people in the country tend to take a high risk of investment in cryptocurrency investement tahan the old generation.

Bitwise Asset Management’s chief investment officer Matthew Hougan told Blockworks, “I agree that people have a long way to go on educating themselves about crypto, but the good news is that they are working hard to get there.” Over the next few months and years, I anticipate these numbers to drastically shift.

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