A report from HBUS – a unit of crypto exchange Huobi – revealed that the number of cryptocurrency owners doubled in 2019 and there is overall a growing awareness of the general public.
The report took into account more than 1,000 individuals from US who were questioned in the months of March and April, so just before we have the impressive Bitcoin bull run from the beginning of May 2019.
Most of the respondents, owners and non-owners of cryptocurrencies, seemed to be connected to the crypto space and understood the main privacy benefits brought about by Bitcoin and other digital currencies. Nevertheless, the same report emphasizes the lack of education regarding cryptocurrencies for most individuals that are directly affected by the digital environment.
The number of Bitcoin owners continues to grow jumping from 8% in 2018 to 20% in the first half of 2019, with most users taking advantage of Bitcoin for buying and trading needs. It comes as a big surprise of the report to find out that far less people than we might have imagined keep Bitcoin for long term investment.
Regarding the gender ratio, men seem to be attracted by the investment characteristic of cryptos, while women are more practical being interested to use digital currencies for payment purposes.
The typical owner revealed by the study is an individual aged between 18 and 44 with an annual income of between $100,000 and $200,000 who is interested to buy cryptocurrencies because of their internal features revolving around privacy, security and efficiency.
The above mentioned features represent the chief reasons respondents highlighted when choosing to purchase cryptocurrencies. The top negative elements same individuals pointed out to are not so much connected to the technology per se, but to the infamous volatility of the cryptomarket and the overall lack of regulation.
The main conclusions of the report indicate that the blockchain industry needs to create more educational materials for the general public and offer better user access to crypto-related products and services.