$ 29,533.00 0.64%
$ 1,985.80 0.69%
$ 50.37 0.03%
$ 0.085106 0.01%
$ 8.11 3.17%
$ 1.42 4.43%
$ 0.000122 7.32%

Majority crypto traders trying to “get rich quick”: Research

most crypto traders want to get rich quick

In a new study conducted by ‘Revealing Reality,’ an agency located in London, it was reported that most of the cryptocurrency enthusiasts and buyers were taking more and more interest in the shorter route to earning huge amounts of money using Bitcoin.

This study depicted that a non-negligible fraction of the Crypto investors shows a keen interest in earning more by putting in minimal investment and time.

The report stated that a majority of the investors surveyed showed a greater interest in making huge amounts of profit, whereas some were investing in this as a side business to make ends meet. A few, however, stated that they took this up as one of many different means to get rich fast.

Many of the crypto investors surveyed expressed their concerns regarding being left out or facing loss after 2017 when Bitcoin faced the market boom.

Moreover, in another market study carried out in the UK by Kantar TNS, it was revealed that an astonishing seventy percent (70%) of the survey pool were unable to clearly define the basis of Cryptocurrency technology and its functioning. Whereas, less than ten percent (10%) of digital property owners who actually made an effort to do a little research before they took up this path.

The size of the population for this survey was around two thousand individuals based in the UK. Two out of three of these cryptocurrency investors ever checked the current value of their digital asset in the market.

In a final report by the financial watchdogs in the UK, the banning of many digital currencies and assets was highlighted.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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