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June 30, 2022
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Survey: 85% of traders have Bitcoin

An Overbit survey revealed that the vast majority of traders own Bitcoin.

The survey was conducted in March on a sample of 3,000 traders, of which the majority (60%) were casual traders with around 1-2 years of experience. Only 10% said they were professionals in the sector.

In particular, 30% of respondents said they were new to the cryptocurrency market.

It’s important to note that in a similar survey in 2020, 58% of respondents were newbies, so there was a significant increase in confidence in the cryptocurrency trade in just one year, thanks in particular to the explosion late last year.

In addition, 56.1% of respondents said they would buy cryptocurrencies in 2021.

One curious thing that emerged from this survey is that casual traders and novices say they trade in crypto markets mostly on weekends, while professionals do mostly on weekdays.

21% said they were willing to invest between 10% and 30% of their portfolio in cryptocurrencies, while 19.8% said they were willing to invest 90%.

Other survey responses covering Bitcoin and Ethereum

83% said they would keep Bitcoin in their portfolio in 2021. This number is similar to last year’s survey, but for Ethereum (ETH) there was an increase this year: 65% said they would keep bitcoin in their portfolio in 2021, while in the year In the past, this number was only 50%.

In addition, more than 85% of traders said they considered bitcoin a safe-haven asset, and the vast majority were optimistic about the future trend of the BTC price. However, the survey was conducted before the May crash, so the number of optimists may have changed in the meantime.

65% said they prefer to leave their tokens on an exchange, while only 25% use cold wallets. However, traders often don’t keep their tokens for the long term, but instead trade intraday or with short-term targets, so this huge difference shouldn’t come as a surprise.

In addition, 9% said they lost some of their cryptocurrencies in the past due to hacker attacks or security breaches, while 11% admitted to losing them due to loss of access to their private wallets.

Overbit CEO and Founder Cheh Liu commented on the survey results saying:

“Awareness of the cryptocurrency market – and even of traditional asset classes – is increasing among retail merchants. Meanwhile, in the face of rising inflation and falling interest rates, investors are increasingly looking to growth assets like Bitcoin. So it’s no surprise that the trader’s risk appetite has grown significantly in the last year.”

Source: cryptonomist

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