A new survey sheds light on people’s concern about investing in cryptocurrencies

A new survey sheds light on people’s concern about investing in cryptocurrencies

While some people believe in the long-term potential of cryptocurrencies, others are hesitant to invest their money for a variety of reasons. A recent study by Coupon Follow found that the majority of people who have not invested in cryptocurrencies cite concerns such as value volatility and restricted applications, environmental impact, as well as regulatory concerns.

The interest of the search for “should I invest in cryptocurrencies?” has increased. Source: Google Trends

The survey, which included respondents 18 and older, was answered by 1,172 people among Generation Z, Millennials, Generation X and Baby Boomers. Each group was represented by samples ranging from 172 to 333 individuals. According to the report, all of the respondents were “non-coiners,” or individuals who have not yet invested in cryptocurrencies.

According to the research, lack of understanding was the most popular reason for buyer hesitation across all generations. When asked about their refusal to buy cryptocurrencies, 42% of respondents said they did not “understand its value.”

Nevertheless, the report suggests that interest in learning more about cryptocurrencies has not died out. Even if they were not willing to invest money in it, most of the respondents were at least somewhat interested in learning more about cryptocurrencies. A significant percentage of those surveyed, 39%, feel scared by the volatility of cryptocurrencies.

A new survey sheds light on people's concern about investing in cryptocurrencies
Source: CouponFollow

18% of respondents said that learning more about the benefits of investing in cryptocurrencies was the most effective approach to go from skeptic to believer. Millennials said having higher disposable income was the most likely scenario that would convince them to invest in crypto.. The research found that members of Generation Z are most interested in government regulation and law enforcement in this nascent space.

Read:  Companies send letter of protest to the European Union for harsh regulation on bitcoin

Considering the growing number of financial crimes and DeFi exploits, as well as the dramatic collapse of Terra (LUNA) last week, this should come as no surprise.

Regulators are primarily concerned with protecting consumers, and it is clear that they are struggling to keep pace with a rapidly evolving industry. Regulation exists, but seems disorganized. The United States Securities and Exchange Commission (SEC) has recently revamped its cryptocurrency unit with more hires, and with the general public becoming more aware of cryptocurrencies, we can expect to see more regulation in this area. Experts believe that crypto companies need to collaborate with regulators to increase adoption.

Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.

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