According to a recent survey, US investors see investing and trading in Bitcoin as a risky business.
According to an online poll made by Gallup and Wells Fargo made on 7th My on Gallup panel, it has been revealed that three-quarter of US investors with more than $10,000 in stocks and mutual funds believe that investing in Bitcoin seems risky and unreliable.
Bitcoin still a new concept
Since its launch in the market, this high-risk currency has somehow managed to make its way in the trading market. But considering the words of investors, Bitcoin and cryptocurrency are still ‘unknown grounds’ to them. Amongst all the investors, only 2% own Bitcoin, over 76% don’t ever plan to buy it in the future, and almost 26% are intrigued by the idea of cryptocurrency but don’t plan to buy in the near future. The recent rise and dive in the prices of Bitcoin have side-lined the investors even more, with little chances of investing.
Risk factor is a predominant concept
More than 75% of the investors consider Bitcoins to be a very risky business. This owns to the most widely known concept that Bitcoins are highly susceptible to hacking and other cyber-attacks, making it the less preferable choice amongst the investors. The majority of the population who own Bitcoin comprise of men and that too in the age range of 19-40 years. Since the younger generation tends to dive deep into their knowledge of cryptocurrencies, they are most likely to buy Bitcoins than investors older than 50.
The US investors consider playing in the safe zone and opting for more financial security. The young people who are looking to invest might be converted once the currency goes main-stream.
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