Recklessness and bias – A recent report containing the results of a study that the crypto exchange Bybit and the Toluna customer data platform have made it possible to better understand the decision-making process of American investors when buying a cryptocurrency.
To DYOR or not to DYOR: US crypto investors make their choice
In November of last year, Bybit and Toluna conducted a study of 10,500 people in 19 markets. This research made it possible to evaluate the level of care within reason that the 1,748 participants who bought cryptocurrencies, realized before investing in digital assets or trading them.
The results show that 64% of US crypto investors spend less than two hours doing their own cryptocurrency research or do none at all. In detail, 13% of US respondents say they didn’t do any research, but relied on trends on social networks when buying cryptocurrency.
2% of US crypto investors have purchased digital assets, solely on the basis of advice from their friends. The remaining 49% conducted searches for less than two hours. Only 10% of US crypto investors spend a few days or weeks on this due diligence.
>> Expose yourself to Bitcoin on Binance, 10% fee reduction with this link (commercial link) <<
The top 3 criteria for selecting a cryptocurrency
The study of Bybit and Toluna also makes it possible to appreciate the weight others criteriawhich investors use to select tokens in which they will invest.
40% of respondents attach particular importance to the blockchain on which the token is based. The study classifies this criterion as a technical factor, just like the tokenomics or the consensus algorithm used.
For 32% of study participants, name and credibility supports (backers) of a token, which is a reputation factor, are listed as important selection criteria.
29% of US crypto investors pay attention to website aestheticsbefore buying a token.
Cryptocurrencies may be the new « american dreamm », but this study reveals that the majority of American investors spend relatively little time to thoroughly analyze the digital assets in which they will invest. Statistics also show that factors that can bias decisions have a significant influence in their token selection process.
For you, it’s decided! No need to procrastinate, you say “yes” to cryptocurrencies! Stock up on Bitcoin, Ether and other tokens on the world’s largest exchange. Run to register on the Binance platformTHE absolute benchmark in the sector, and benefit from a 10% discount on your trading fees (commercial link).