Survey: 85% of traders own bitcoins

An Overbit survey revealed that the vast majority of traders own Bitcoin. 

The survey was conducted in March on a sample of 3,000 traders, of which the majority (60%) are occasional traders with about 1 or 2 years of experience. Only 10% said they are professional in the sector. 

In particular, 30% of respondents declared themselves a beginner in the cryptocurrency sector. 

It should be noted that in the previous similar survey of 2020 the beginners were 58%, therefore in the space of just one year there is a significant increase in confidence in cryptocurrency trading, thanks in particular to the explosion triggered at the end of last year. . 

56.1% of respondents also said they had made purchases of cryptocurrencies in 2021. 

A curious thing that emerged from this survey is that casual investors and beginners claim to trade crypto markets mainly on weekends, while professionals do so mainly during the week. 

21% said they are willing to invest in cryptocurrencies from 10% to 30% of their portfolio, while 19.8% said they are willing to invest 90% in cryptocurrencies. 

The other answers to the survey on Bitcoin and Ethereum

83%, however, declared that they had held bitcoin in their wallet in 2021. This figure, however, is similar to the one that emerged in last year’s survey, but for Ethereum (ETH) instead this year there was an increase : 65 % said they owned them in 2021, while last year this percentage had stopped at 50%.

Furthermore, more than 85% of traders said they consider bitcoin a safe haven , and the vast majority said they were optimistic about the future trend of the price of BTC. However, the poll was conducted before the May crash, so the number of optimists may have changed in the meantime. 

65% said they leave their tokens on an exchange, while only 25% use cold wallets. However, often traders do not keep the tokens for the long term, but operate intraday or in any case with short term objectives, therefore this huge difference should not surprise too much. 

In addition, 9% said they had lost some of their cryptocurrencies in the past due to hacker attacks or security breaches, while 11% admitted they had lost them due to losing access to their private wallets. 

Overbit CEO and founder Cheh Liu commented on the survey results saying: 

“Awareness in the cryptocurrency market – and also in traditional asset classes – is on the rise among retail traders. Meanwhile, in the face of rising inflation and falling interest rates, investors are increasingly looking for growing assets like Bitcoin. It is therefore not surprising that traders’ risk appetite has grown significantly over the past year ”.

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