Bitcoin, Blockchain And Crypto Asset User Education: Is It A True 2019 Market Catalyst For Investors?
Why Is So Important To Spread Knowledge About Cryptocurrencies?
The cryptocurrency market did not have a good year when we take a look at the price of the most popular virtual currencies. Due to this situation, several investors remained outside the market. However, there is another important reason why individuals preferred not to invest in cryptocurrencies during this year.
According to a recent survey published by eToro, the lack of knowledge about virtual currencies has played an important role in keeping investors away from the marke. eToro is one of the most known trading platforms in the market.
The survey answered by 1,000 online investors in the United States shows that 69% of the respondents are interested or very interested in having more knowledge about virtual currencies.
According to Guy Hirsch, U.S. Managing Director at eToro commented that there is a huge demand that is not being satisfied.
On the matter, he commented:
“There’s a huge demand that is not currently being satisfied to get advice from registered investment advisors about how to get into this asset class. There’s an untapped opportunity that is currently out there for companies and advisors to leverage.”
Around 75% of the investors surveyed answered that they do not have enough knowledge about cryptocurrencies, the market and the technology to invest in it. Additionally, 20% of crypto investors answered that they do not have all the necessary information about cryptos.
This has less influence in millennials. 40% of those that did not invest in virtual currencies because they did not have the adequate information about their investments. In addition to it, 73% of millennial respondents said that they would be in favor of using financial advisors if they would be able to invest in the market.
With more access to information, the number of virtual currency investors could be even larger. The market has been in a bear trend since the beginning of the year and with more knowledge, it might be possible for the space to receive a new influx of investors.