Find out why most people choose to buy and hold Bitcoin.

This research describes the internal and external thinking of Bitcoin.

Bitcoin has become a new frontier of investment. Bitcoin adoption is still ongoing, but it has many uses. Some traders hold Bitcoin for their income, while others use cryptocurrency for online trading.

Now Bakkt's new research gives the bird an eye on the state of Bitcoin adoption in the United States. Bakkt is a cryptocurrency-focused financial services company. According to research,Most people invest in Bitcoin and cryptocurrencies for long term benefits.This article presents the results of the research. Let's look at each other.

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This research was conducted by Online Tools in July 2021 at the request of Bakkt. We have received responses from 2,000 customers across the United States. The survey aims to show how Bitcoin and cryptocurrencies have performed over the past six months and the next six months. The researchers used the Census Bureau's American Community Survey to measure education, gender, age, geography, and race.

Bitcoin and Cryptocurrency Investments

According to research,48% of respondents have invested in Bitcoin and cryptocurrencies in the past 6 months.. A significant number of investors (19%) have invested less than $ 100. Those who invested $ 1,000 or more represented 5%. 69% of respondents were under 44 years old.Most American business people are young..

Most traders of all ages have invested less than $ 100 in Bitcoin and cryptocurrencies.. For example, 45% of 45-60 year olds have Bitcoin and cryptocurrencies below $ 100. The 18-29 age group gets second with 38%, and the 30-44 age group gets third with 36%. Only 32% of people aged 60 and over invested less than $ 100.

Attractive Bitcoin and Cryptocurrency Products

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Bitcoin and cryptocurrency have many uses.According to Bakkt Research, 58% of Americans have bought Bitcoin or other cryptocurrencies as a long-term investment in the past six months. However, 43% of investors expect to make a profit in the short term.

In addition to investing, people have also bought Bitcoin for online trading.According to a Bakkt poll, 24% of respondents say cryptocurrencies will make purchases online. Likewise, 12% of investors plan to directly purchase goods and services using cryptocurrencies. Only 11% of people have purchased cryptocurrency and are ready to transfer it to someone else, such as paying for a friend or family member.

Use of cryptocurrencylong term investmentandcollect feesIt is a great investment for any age. Long-term cryptocurrency traders aged 18-29 and 30-44 accounted for 35% and 36%, respectively, while only 21% of investors aged 45-60 bought cryptocurrency from for trading purposes. Additionally, the study found that only 14% of Americans 60 and over receive long-term cryptocurrency. Take a look at TradingBeasts popular long-term Bitcoin forecast.By the end of 2024, the price of Bitcoin is expected to reach a high of $ 77,221.06.. Given this fact, young traders will be smarter than previous generations when it comes to investing in Bitcoin.

Despite the strong growth potential of Bitcoin and the cryptocurrency boom, many people have yet to find an interest in investing in cryptocurrencies. According to the survey, 25% of people are unhappy with investing in Bitcoin and cryptocurrencies over the next 6 months. In all likelihood, cryptocurrency investments are only attractive to 32% of people. About 43% of respondents are not satisfied with the current approach to investing, while 10% are "very fond".

This study categorizes interest in cryptocurrency investments according to different age groups.Cryptocurrency Investments Most Attractive To People Aged 18-44. However, Americans between the ages of 45 and 60 saw minimal interest, with 33% dissatisfied with investing in Bitcoin and cryptocurrencies.

The most important reason for investing in Bitcoin and cryptocurrencies isAbility to return on long-term investments. No price counts for 16% of its attractiveness. Other factors have the same interests, notably ease of access, fear of disappearance and lack of central control. Traders of all ages see the long term return on investment that is crucial when investing in cryptocurrencies. Specifically, 34% of 18-29 year olds have invested in cryptocurrencies for long term benefits. According to Bakkt's research, the driving force behind investing in crypto for people over 60 is fear of extinction.

High volatility is the hard part.

As with any other investment, investing in Bitcoin and cryptocurrencies is not without its challenges. According to Bakkt's research,High volatility is the hardest part, 32% of respondents No knowledge to start in second place. Other issues include the high cost and lack of trust from third-party exchanges and competitors.

Regarding gender,High volatility is the hardest thing for men.. on the other hand,Women say the biggest problem is not knowing where to start.Only in people over 60, mood swings are still the biggest impact for all age groups. Adults argue that not knowing where to start is the biggest problem with investing in cryptocurrencies.

Levels of Knowledge of Bitcoin and Cryptocurrency in the United States

When it comes to investing in Bitcoin, people have different understandings. Some people are passionate and follow passionate Bitcoin news. So they know this industry. Others walk in the dark. Bakkt's research is to find out what Americans know about investing in Bitcoin and cryptocurrencies.

According to Bakkt's research,35% of respondents say they know nothing about Bitcoin and crypto-currencies.. The good news is6% of the people questioned declared "to know more".The others are intermediaries and do not know enough about the industry.

Regarding gender,Men are more likely to invest in Bitcoin and cryptocurrencies than women.9% of men say they are “better informed” compared to 3% of women. Likewise, the percentage of women who are unfamiliar with cryptocurrencies at 45% is higher than that of men at 24%.

According to the survey, people between the ages of 30 and 44 know more about Bitcoin and cryptocurrencies than people of all age groups. On the other hand, 54% of the population over 60 years old does not know anything about Bitcoin and cryptocurrencies. As a result, adults have very little knowledge about investing in cryptocurrency.

What do Americans think about investing in cryptocurrency?

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Investor confidence in the stock market is now a subject of expansion. Although many do not have firm faith in themselves, their faith does not change. In fact, 39% of respondents are confident in their cryptocurrency investment with multiple levels of confidence. it meansAmericans are still unsure of the direction of the cryptocurrency market.

People between the ages of 18 and 29 have the most confidence in cryptocurrencies.On the other hand, Americans over 60 make up the vast majority of people who don't trust cryptocurrencies. probably for two reasonsSkills varyOn.

Important selection of cryptocurrency exchange platform

There are many different exchange options when buying Bitcoin. In reality,There are many factors that play an important role in choosing the ideal platform.According to our survey, the key considerations when choosing a good platform are:Costs and expenses. Obviously, 27% of people consider exchange rates when choosing a cryptocurrency exchange. Other considerations include the ease of use and maintenance of the platform.Few people think of coin selection and quick trading.

While cost and value are the landing point that determines the platforms of choice for men, the platforms of choice for women often depend on ease of use. Currently, the Bitcoin exchange rate is below $ 50,000. However, you don't need all the parts. Cryptocurrency exchanges allow people to buy small amounts of Bitcoin depending on how much they want to invest.

Surprisingly, according to Bakkt's research,39% of those surveyed are unaware that they can buy a portion of Bitcoin.especially women. While 63% of those surveyed knew that Bitcoin could be bought in half, only 54% of women were aware of this information. Likewise, almost half of those surveyed over the age of 60 are unaware that they can buy a portion of Bitcoin. This could indicate the need for more awareness about investing in Bitcoin.

Young people are more and more aware of cryptocurrency investing and experience.

The study shows the public perspective on Bitcoin and cryptocurrencies. According to research, men are more likely to invest in cryptocurrencies than women. Likewise, young people became interested in Bitcoin and other cryptocurrencies. This situation could have been improved with the adoption of Bitcoin.