from a new report Turns out, the vast majority of cryptocurrencies owners in the United States (US) made their first-ever crypto investment last year.
Crypto exposure for the first time last year
According to the report, from the Huobi Group, nearly 70% of all crypto holders in the US only started investing in cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) in 2021.
The survey surveyed 3,100 US adults to assess respondents’ knowledge of crypto, what they think of the crypto market’s rise in 2021, and more.
The survey results indicated that 68% of respondents got their first crypto exposure in the past year, while another 21% of them started investing in crypto up to two years ago. 12% of respondents made their first crypto investment within four years, while 9% started investing in crypto more than four years ago.
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Still a lot of skepticism about crypto industry
However, the amount that survey respondents have invested in the crypto market differs greatly. Of all respondents, 46% said they had $1,000 or less invested in cryptocurrencies. Another 25% said they have invested somewhere between $1,000 and $10,000 in cryptocurrencies.
Even so, there would still be a lot of skepticism around the entire crypto industry. 42% of the respondents indicated that they thought it was too risky to invest in cryptos now. 34% of respondents were also concerned about the lack of market regulation, while 24% of respondents noted that they did not have enough capital to invest in crypto.
2021 was a big year for Huobi
Last year turned out to be a big year for the popular cryptocurrency exchange Huobi. The crypto platform has seen a significant increase in its user base. However, Jeff Mei, Global Strategy Director at the Huobi Group, said the following about the coming time:
“We still have a long way to go before mainstream adoption for cryptocurrencies takes place. When more people take the time to understand the industry and there is more clarity about global regulations, we can expect a spike in participation.”