A poll run by CivicScience between November 11 to December 3, 2021 showed that 23% of the 5,560 respondents say they or someone they know sold stocks and bonds to buy crypto. Zack Butovich of CivicScience said, “The data shows that over one-fifth of investors have sold more than half of their stock assets in order to buy cryptocurrency – a shockingly significant number.” Another surprising result is that it’s serious investors who are selling stocks or bonds to buy crypto. 30% of the respondents invest in crypto as a long-term investment tool, while 16% invest to avoid adverse economic conditions.
The poll, though small scale, shows that serious investors are taking crypto seriously despite the tons of bad press from financial experts in recent months. Data also shows that crypto is indeed slowly being adopted by the general public. In conclusion, CivicScience says, “While the volatility of cryptocurrency is still an issue, the technology as an asset continues to be further embraced by the investing class, implying that broad acceptance by the general population is only a short time away.”
Yes, crypto remains to be volatile, BUT managing risk is possible. These will serve you well if you are still on the fence on cryptocurrency as an investment.
1. Invest only what you can afford to lose.
2. Do your due diligence and research.
3. Understand the pros and cons of each coin.
4. Look at the potential it could bring.
5. Safeguard your coins (once you’ve decided to take the plunge).
With crypto and blockchain technology becoming more ubiquitous by the day, think about a future when these will have more uses than what they currently offer. Learning more about these will help you make the decision on how much you want to engage in cryptocurrency without missing out.
If you value privacy, you may want to get Monero (XMR). Monero is a privacy coin that gives you and all your transactions anonymity by its Ring Signature, Stealth Addresses, and RingCT technologies. Monero is private, secure, untraceable, and fungible. Store your XMR in a secure, private, and untraceable wallet like XMRWallet. XMRWallet allows you to use Monero without requiring you to download any software. It has multiple language support and completely free. Take advantage of everything XMRWallet offers. Using XMRWallet for your Monero coins will expand the privacy and anonymity that Monero provides.
