Trending

Stories

Crypto Survey: 37% of American Investors Won’t Cash Out Their Crypto

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Babafemi Adebajo
Babafemi Adebajohttps://www.definitionsbyadebajo.com

Femi is a freelance content writer with adequate experience creating content for online and offline media across different niches including technology. When he is not writing, you can find him trying out new technology or reading.

Quite a number of digital currencies are seeing their prices enjoy an upsurge in recent times, and now investors have little or no doubts about the future values of their crypto assets. In a recent survey of 1,000 U.S. crypto investors carried out by Gambler’s Pick, a whopping 37% of the respondents insisted that they would not cash out their crypto, even if it is of utmost importance or the cash is needed to make an emergency payment.

51% also won’t cash out for luxury or recreational purchases

Furthermore, in the survey that the Gambler’s Pick titled “Cryptocurrencies 2021 Survey: Save or Spend”, it was revealed that crypto holders generally have a hard time when it comes to parting with their digital assets even for any reason at all. The 1000 participants surveyed were 135 Baby Boomers, 212 Generation X, 442 Millennials, and 206 Generation Z individuals. The study indicates that, on average, Americans hold about $1,707 in crypto. Still, even in the event of an emergency, a good fraction of the American people will not spend the funds. 

Also Read

Having established that 37% would not cash out their crypto to make necessary or otherwise critical payments, 51% also said they would not cash out to buy what they consider to be a luxury item or use the funds for the recreational purchase.

The study details further by revealing that Millennials are most likely to stop saving for their retirement or neglect their credit card payments just so they can hold onto their existing crypto investments. 

What percentage skips payments or borrows debt to buy crypto?

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Out of all the respondents, 38% were honest enough to say that they missed a payment to hold their cryptocurrencies for longer. According to the report highlights of the Gambler’s Pick report, almost 1 in 4 participants have leveraged at least a credit card to buy crypto. Respondents of the study also revealed that they borrowed about $2,191 on average to pay for digital assets.

Gambler’s Pick survey participants also said that in the year 2022, they plan on investing $1,645 on average into the crypto business. Male participants on average, plan to spend $1,998, while the female respondents on average plan to spend $1,110 in the coming year.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
Google Pixel 4 and 4 XL Get Last Update WhatsApp Introduces 5 New Features For Status Updates OnePlus First-ever Tablet Launching in India Today ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King
Google Pixel 4 and 4 XL Get Last Update WhatsApp Introduces 5 New Features For Status Updates OnePlus First-ever Tablet Launching in India Today ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online