Over 60% of US investors have started buying cryptocurrency in the last six months

According to the findings of a new study, the majority of crypto investors in the United States are new to the digital asset market. According to a survey performed by the NORC at the University of Chicago that included 1,004 interviews, 61 percent of Americans who invest in digital assets have only recently begun purchasing cryptocurrencies.

Thirteen percent of those polled said they had purchased or traded cryptocurrencies in the previous 12 months, however more people said they had invested in equities. 24 percent of individuals polled said they had traded equities in the previous year, which is roughly double the percentage who said they had bought and sold cryptocurrency.

At a statement, Angela Fontes, a vice president in NORC's Economics, Justice, and Society department, said, "Cryptocurrencies are opening up investing opportunities for more diverse individuals, which is a very good thing." “Having access to reliable information will be critical for these investors as they make judgments about these often more unpredictable investments.”

Information on crypto investment from a variety of sources

According to the report, 26 percent of investors obtain information about crypto investing via crypto exchanges, 25 percent from general trading platforms like Fidelity and Robinhood, 24 percent from social media, and 2% from a broker or advisor.

62 percent of those who are hesitant to invest in cryptocurrencies claim that their comprehension of the new asset class is insufficient, and 33 percent claim that they do not have enough money to buy crypto. Other factors include security worries, a lack of knowledge about how to invest, and concerns about digital asset price volatility.

However, 11% of respondents who did not invest in cryptocurrencies said they were highly or somewhat inclined to start investing in digital assets in the next 12 months.

Crypto assets, despite growing more mainstream, appear to have a long way to go, according to the research. At the near future, Mark Lush, a manager in NORC's Economics, Justice, and Society department, believes that cryptocurrencies like Bitcoin will lag behind more traditional investment vehicles.

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