70% of US crypto holders started investing in 2021: Report

According to a new survey, the vast majority of cryptocurrency owners in the United States made their first crypto investments just last year.

According to the Crypto Perception Report 2022 by Huobi Group, the operator of major crypto exchange Huobi, almost 70% of crypto holders in the United States began investing in cryptocurrencies like Bitcoin (BTC) in 2021.

In mid-December 2021, the business interviewed over 3,100 U.S. adults to measure respondents’ understanding of crypto, their thoughts on the crypto market’s ascent in 2021, and more.

According to the survey, 68 percent of respondents had their first crypto exposure within a year, while another 21% had started investing in crypto over the last two years. Within the last four years, 12 percent of respondents made their first crypto investment, while 9 percent began investing in crypto more than four years ago.

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However, according to the results of the poll, respondents did not invest heavily in cryptocurrency. A total of 46% of those polled said they had $1,000 or less invested in cryptocurrency. Another quarter of respondents indicated they had between $1,000 and $10,000 in cryptocurrency.

The poll also revealed that there is still a lot of suspicion around the crypto industry, with 42% of respondents believing that investing in crypto is too hazardous. The lack of market rules was also a source of concern for 34% of interviewees, while 24% said they didn’t have enough money to invest in cryptocurrency.

The emergence of sectors like decentralized finance and nonfungible tokens, according to Huobi Group global strategy director Jeff Mei, will make 2021 a major year for crypto.

“However, we still have a long way to go before we see widespread acceptance.” We may expect a surge in involvement as more people take the time to learn about the industry and global regulations become clearer,” he said.