HBUS Survey: Nearly 12% Of U.S. Crypto Holders Are In It For The Long-Term
A new survey shows that nearly 12 percent of people who own cryptocurrencies in the United States are long term investors.
HBUS is the U.S. partner to Huobi Global, the firm that operates the Singapore-based Huobi crypto exchange. The firm revealed the findings of its survey on Monday, May 13.
HBUS is said to have surveyed a total of 1067 respondents from the United States, in the period between March and April 2019.
As well as its finding that close to 12 percent of crypto holders claim to be in it for the long haul, the company found that 19.58 percent of Americans whose annual income exceeds $99,000 are active holders of cryptocurrencies.
The findings also suggest that people whose income falls between $125,000 and $149,000 per year were most likely to consider investments in the crypto space.
According to the report, 8 percent of the respondents claimed to have invested in cryptocurrencies in 2018. That number grew over the year to hit 20 percent in 2019, with a further breakdown in gender showing that the number of men investing in crypto then was double that of women.
Per the HBUS survey, 27.49 percent of the surveyed men compared to 13.22 percent of women said they had invested in crypto.
The study also reveals that about 74.32 percent of the Americans, as per the survey, said they were aware of what cryptocurrencies are.
When it comes to trading, more than 60 percent of respondents who invest in crypto said that friends’ recommendations influenced their choice of exchange.
The survey also asked respondents about their reservations and what might be hindering crypto adoption. As per the findings, the top three included: a general lack of understanding among the public, concerns regarding security, and generally, widespread mistrust.
The respondents said that the main reasons that drive them to own crypto are its technological potential, privacy and, interestingly, crypto’s security.
The survey report follows another released earlier this month by Fidelity Investments. According to the firm, 22 percent of institutional investors said they own crypto assets.
The Fidelity Investments survey report followed yet another released towards the end of April claiming that nearly 11 percent of Americans owned bitcoin (BTC).
Earlier this month, consultancy firm deVere Group released a survey report that claimed 68 percent of the world’s millionaires already own cryptocurrency or have plans to invest in the next three years.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.