Typical bitcoin investor

Most of people know what is bitcoin and cryptocurrencies, and can even explain it to others. However these admirers of bitcoin are generally men from generation of millenials who live in big cities and which annual earnings make more than $75 000. Data of recent poll in which more than 1000 Americans participated are that.

Survey was conducted by the Clovr company — it promotes technology a blockchain. It is one of the early large-scale studies designed to outline a portrait of the typical owner of cryptocurrencies.

For anybody not news that the biggest supporters of bitcoin are representatives of youth. But all the same ardent adherents of cryptocurrencies can apprehend poll results as slap in the face to the beliefs. The matter is that the research shows: a basic reason on which people address cryptocurrencies — probability of huge profit, but not confidence that digital currencies will become money of the future. In other words, people consider bitcoin the same as securities of the Internet companies at the time of a boom of dotcoms or as any other too speculative investments.

The bitcoin boom is also similar to epidemic: people learn that their acquaintances invest in cryptocurrency, and are afraid to miss an opportunity. We will note that it is the ready recipe of accident: individual investors often enter a game too late. All of them still buy when the large share companies and hedge funds sell.

The cofounder of Clovr Mike Kribari is recognized: he was a little surprised, having learned that aspiration of a fast profit — the main reason of purchase of bitcoin. He says:

Many people participating in the speculative investments with risky rates do not get into highly profitable group...

There will pass a lot of time before people begin to think of cryptocurrencies as about true replacement to dollar, euro, yen and other fiatny money. That it occurred, the bitcoin and other cryptocurrencies have to be provided in a significant amount of applications which people will be able to use in everyday life. Kribari says:

It is difficult for people to understand such things as private keys or transactions. They rather need an opportunity to pay with cryptocurrencies for a lunch.

And it is quite real. Not without reason owners of Starbucks, Microsoft and ICE started a startup of Bakkt which will allow people to convert bitcoins and other cryptocurrencies into dollars, and Goldman Sachs supports the Circle project which allows people to invest in cryptocurrencies, to trade in them and also to send digital payments through the application working as a messenger.

Cryptodifficulties

Bitcoin definitely not for all. According to Kribari, the activity of hackers is capable to frighten off many from cryptocurrencies.

Dizzy volatility also does not play into the hands of recognition of bitcoin. For the last 12 months its price grew by 50%, and then decreased on as much. The basic reason on which people refuse cryptocurrency investments is a high risk.

Kribari hopes that time of a wild swing ended. After last year's take-off up to $20 000 the price of bitcoin was stabilized in the range from $6000 up to $7000.

Results of other research say that the thought of use of bitcoin for daily purchases and preserving of value is close to the average investor now. More than a half of representatives of generation of millenials and more than a third of people of advanced age said that cryptocurrencies will be so widely recognized how cash and credit cards, BitcoinIRA.com reports.

Nearly 30% of the interviewed elderly people were recognized that they consider the possibility to invest in bitcoin or other cryptocurrencies for providing the old age.