The world of crypto and blockchain is full of emotion, new developments and violent price movements. That is sometimes difficult, but it also offers enormous opportunities. Many retail investors also see this. It turns out that many of them see crypto as an opportunity to increase their standard of living.
Bitcoin investors choose: family or self-interest?
The crypto exchange Bitget regularly investigates what exactly motivates investors to buy crypto. In a press release it writes that it interviewed 1,512 of its users from 20 countries, including from the European Union. The exchange explicitly mentions China, Japan, South Korea, Turkey, Malaysia and Taiwan.
It turns out that many of Bitget’s customers are putting their money into crypto because they want to improve their standard of living. The researchers mention two different groups, namely people who also involve their family and people who prefer their personal living conditions.
For the first group, you should think of money for their child’s education or better facilities for the whole family. The United States takes the cake in this area. 10% of men invest in crypto for this reason, and 27% of American women invest. In Japan this is only 8% and 4% respectively.
Perhaps the latter group includes more people who are single or younger, for example. Demography and culture will also be important factors. It is not clear what exactly the goals of the investors who do not fit into either category have.
Source: Bitget
In South Korea, the percentage that wants to improve their personal living standards is the highest – 46% to be precise. Canada and Turkey follow with 44% and 41% respectively. The interests of family are highest in Malaysia and Taiwan, where 36% choose family. In Europe the difference is not that big. For example, in Germany and the United Kingdom, 37% and 28% respectively choose for themselves, while 35% and 30% respectively prioritize the interests of the collective.
Bitget users have little experience yet
The crypto exchange regularly reveals interesting details. Last July it became apparent that European traders often have little experience. To compensate for this, many traders use the ‘copy trading’ function, which literally allows you to copy the tactics and entry and exit points of others. Yet there are also major differences here. Young people in particular are willing to do this.
2023-10-07 18:03:02
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