According to a recent cryptocurrency survey by Forklog, almost 73% of them have received income from their BTC investments in 2020.
The portfolio of 20% of investors showed no profitability. Every second respondent – 57% – is planning to expand their investment portfolio, every tenth is looking to create one.
Bitcoin investors are interested in long-term investments and making money on trading, according to the survey results. Bitcoin and Ethereum remain the leaders in popularity among coins: 70.7% and 53.3% of respondents hold them, respectively. The survey took place in September 2020 and polled 1,815 investors from Ukraine, Belarus, the USA, Asia, and Europe.
For 60% of respondents, digital assets are an opportunity to exercise the right to privacy of financial transactions. Although the use of anonymous cryptocurrencies is not fundamental for them.
Half of the respondents – 51.7% – use a VPN to work with their crypto assets. And the preference is on the side of free services. The Tor browser and the darknet are not particularly popular among survey participants.
Almost half of the respondents were involved in cryptocurrency mining. A core business is owned by 8.3% of the respondents. One in three had experience of earning money on staking, using wallets and centralized exchanges for this.
A sheer quarter of those surveyed invested in the DeFi sector. 59.4% refrained from investing due to lack of knowledge of technology and distrust of projects. The most popular were DeFi tokens and profitable farming. One of the most used DeFi services is the Uniswap exchange.
Cryptocurrency trading is profitable for 43.1% of respondents. Traders opt for centralized platforms. The percentage of DEX users is small.
When it comes to storing cryptocurrencies, users prefer digital wallets such as Bitcoin Core. Non-custodial wallets such as Blockchain.com and Electrum are taking center stage among investors.
Only 30% of those surveyed use hardware wallets. Ledger and Trezor are the two most popular ones.
Furthermore, 63.2% of respondents have never participated in an ICO or IEO. Of the ICO investors, 16% suffered losses and only 5.5% went to zero. 14.2% were able to increase their investments. 18.9% of those surveyed plan to invest in STO in the future.
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