About six out of ten people buy cryptocurrency because of its utility, technology, and ability to change the current financial system.
According to research CoinGecko, mostly people buy cryptocurrencies for reasons other than non-fungible tokens (NFTs). At the same time, three out of four cryptocurrency holders have NFTs.
First of all, investors buy cryptocurrency to make a profit – 84.8% of respondents indicated this motivation. Bitcoin (BTC) is used as an investment by 93.9% of this share. The second most popular reason for buying BTC was financial gain, which is not related to investments – for this reason, 80.3% of respondents buy cryptocurrency. We are talking about staking, farming, lending programs and more.
Savings has become the third most important reason for cryptocurrency buyers. 78.9% said they bought cryptocurrency in part as a form of savings. The fourth popular reason for buying crypto was its usefulness. This was indicated by 77.1% of the respondents.
In fifth and sixth places among the most popular reasons for buying crypto were enthusiasm for business or technology. Some buyers of cryptocurrencies believe that it is more or less important to take into account their personal enthusiasm for a business model, a project idea (76.4%) or its technology (75.9%).
Cryptocurrency owners also expect to receive short-term profits – this was indicated by 74.7% of respondents. Aside from financial or technological reasons, people who buy cryptocurrency also value its ability to disrupt established structures or industries. This reason was noted by 68.6% of the study participants.
In addition, 65.6% of cryptocurrency buyers expect to get a stake in a venture or a decentralized autonomous organization (DAO). Another 59.7% want to join the project community. At the same time, 56.2% of respondents said that they buy cryptocurrency for the sake of public good or charity.
At the same time, another survey showed that more than half of investors are not going to buy cryptocurrency at all this year. Most chose to invest in either technology (41%) or artificial intelligence (AI) (30%). Despite economic concerns, nearly two-thirds believe now is a good time to invest.
Source: Cryptocurrency
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