Forex in this article
Crypto market 2021 with many new investors
Largely beginners in crypto
Inflation protection as one of the main reasons for an investment
In a survey, crypto exchange Gemini asked over 30,000 people from 20 countries to take a closer look at the cryptocurrency industry and Bitcoin & Co. in 2021.
Many crypto newbies
Around 40% of crypto owners surveyed said they invested in digital assets for the first time in 2021. According to Gemini, this trend was even more evident in India, Brazil and Hong Kong. Kong: More than half of respondents had acquired crypto assets for the first time in 2021. According to the survey, 45% of crypto beginners are in the United States, Latin America and Asia-Pacific, while 40% of crypto investors in Europe made crypto investments for the first time in the past year.
Overall, the proportion of crypto owners in Brazil and Indonesia is the highest, around 41% of residents have investments in digital assets. According to the survey, the proportion of crypto owners in the US is 20%, while in the UK it is 18%.
Particularly high curiosity in Ireland
Many survey participants who have yet to invest in crypto in 2021 were open to such investments in the future. 41% of survey participants want to learn more about the crypto market or plan to get involved in the next year, according to survey results.
Survey participants from Ireland were particularly open to future crypto investments: 58% of respondents in that country were potentially interested in entering the world of crypto investments. Overall, 47% of potential crypto newbies were female, suggesting that the gender gap in crypto investment ownership may narrow in 2022, Gemini concludes.
Inflation as the Main Reason for Crypto Investments
Concern over the increasing devaluation of fiat currency was one of the main reasons for investing in crypto in 2021. Respondents from countries that have seen their currencies depreciate by 50% or more against the US dollar over the past 10 years were more than five times more likely to say they plan to buy crypto in the coming year.
This was particularly underpinned by respondents from Latin America and Africa who have experienced hyperinflation before: around 60% of respondents from these regions described crypto as “the future of money”. About 46% specifically emphasize the inflation protection they hope to gain from investing in digital currencies.
In the United States, survey participants have a slightly different view: less than a quarter of adults see cryptocurrencies as the future of money, and only 16% see them as a way to hedge against inflation.
Given the recent significant increase in inflation rates, the trend of crypto investments is likely to continue, the survey organizers were convinced. “We expect the influx of crypto investors to continue this year amid concerns about rising inflation in the United States and rising interest around the world,” said Noah Perlman, chief operating officer of Gemini, in a statement.
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