Forex in this article
Crypto market 2021 with numerous new investors
Large part crypto newbies
Protection against inflation as one of the main reasons for an investment
In a survey, the crypto exchange Gemini asked more than 30,000 people from 20 countries to take a closer look at the sector for cryptocurrencies and Bitcoin & Co. in 2021.
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Numerous crypto newbies
Around 40 percent of the crypto owners surveyed stated in connection with the survey that they had invested in digital assets for the first time in 2021. According to Gemini, this trend was even clearer in India, Brazil and Hong Kong: More than half of those surveyed had acquired crypto assets for the first time in 2021. According to the survey, 45 percent of crypto newbies are in the United States, Latin America and Asia-Pacific, while 40 percent 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 highest, around 41 percent of residents have investments in digital assets. According to the survey, the proportion of crypto owners in the United States is 20 percent, while in the UK it is 18 percent.
Curiosity particularly high in Ireland
Numerous survey participants who have not yet invested in crypto in 2021 were open to such investments in the future. 41 percent of the survey participants are interested in learning more about the crypto market or plan to get involved in the next year, the survey results continue.
Survey participants from Ireland were particularly open to future crypto investments: 58 percent of those surveyed from this country were potentially interested in penetrating the world of crypto investments. Overall, 47 percent of potential crypto newbies were women, suggesting that the gender gap in crypto investment ownership could narrow in 2022, Gemini concludes.
Inflation as the main reason for crypto investments
Concern about the increasing devaluation of fiat money was one of the main reasons for investing in crypto in 2021. Respondents from countries that have seen their currency depreciate by 50 percent or more against the U.S. dollar in 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 substantiated by respondents from Latin America and Africa who have already experienced hyperinflation: Around 60 percent of respondents from these regions described crypto as the “future of money”. Around 46 percent expressly emphasize the protection against inflation that they hope to gain from investing in digital currencies.
In the United States, survey participants take a slightly different view: Less than a quarter of adults see cryptocurrencies as the future of money, and only 16 percent see them as a way to hedge against inflation.
In view of the recent significant increase in inflation rates, the trend towards crypto investments should continue, the survey organizers were convinced. “We expect the influx of crypto investors to continue this year as concerns about inflation rise in the US and interest increases globally,” said Noah Perlman, Gemini’s chief operating officer, in a statement.
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