A survey commissioned by digital asset platform Bakkt is revealing the most popular reason for investing in Bitcoin and other cryptocurrencies.
The survey, which polled over 2,000 US consumers in July 2021, says more than half of those who purchased crypto assets in the last six months wanted to accumulate value in the long term. Other less popular reasons include facilitating online and offline commerce.
“58% of those who own crypto selected long-term investment. 24% said they plan to make purchases online and 12% plan to make in-person purchases.”
The Bakkt survey also says that the potential for long-term return is why nearly one-third of crypto investors are attracted to the digital asset space. About 16% of crypto investors say the lack of fees is the most attractive aspect of cryptocurrencies, while ease of access appeals to 14%.
The poll also looked at the biggest challenges when it comes to buying crypto assets. According to the survey, the two greatest obstacles for US consumers are “too much volatility” and a lack of knowledge of where to start.
When asked about their level of knowledge on cryptocurrencies, 70% of respondents say either they know a little or know nothing at all.
You can read the full report here.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/Anton Domin/Vladimir Sazonov