Saturday, 20 October 2018

6 out of 10 people would consider cryptocurrency investment

Six out of 10 people with currently no exposure to cryptocurrencies would consider including cryptocurrencies like Bitcoin into their investment portfolios, reveals a new global poll.
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Meanwhile, seven out of 10 people who do hold cryptocurrencies are planning to increase their exposure in the next 12 months.

In the survey carried out by deVere Group, one of the world's largest independent financial services organizations, 62 per cent of those who do not have any cryptocurrency said ‘yes', 26 per cent ‘no', and 12 per cent ‘do not know' when asked: "Would you consider, or are you considering, including at least one cryptocurrency into your investment portfolio?"

71 per cent of investors who do currently have cryptocurrencies as part of their portfolio said that they are looking to increase this exposure over the next year, 25 per cent said that they would not, and 4 per cent cited that they did not know.

The 800-plus respondents of this poll are deVere clients who currently reside in the U.S, the UK, Australia, the UAE, Qatar, Switzerland, Hong Kong, Spain, France, Germany and South Africa.

Of the survey, deVere Group's founder and CEO, Nigel Green, comments: "The fact that more than 60 per cent of people with currently no exposure to cryptocurrencies would consider including them into their investment portfolios is striking.

"It underscores how, despite what many financial traditionalists have opined, that a majority of investors are now open to consider the opportunities that the likes of Bitcoin, Ethereum and Ripple could present.

"An increasing general awareness of cryptocurrencies and how they work, plus a growing sense that cryptocurrency regulation is now inevitable, are perhaps the main reasons why such a high percentage of people are now open to looking at the possibilities of crypto for their portfolios."

He continues: "The survey also highlights that the majority of those who do currently hold some cryptocurrency as part of their investment portfolio believe that despite ongoing volatility, the potential rewards will outweigh the potential risks.

"It suggests that these investors expect good returns in 2018 from cryptocurrencies, view them as a good longer-term investment, and that the market will eventually stabilise."

The deVere CEO concludes: "Cryptocurrencies remain a gamble – they are very much ‘unchartered waters' assets and caution must be exercised. However, that said, I do believe that in today's digital world, there is a need for digital currencies. One or two of the existing ones will succeed, whether it's Bitcoin, Ethereum, Ripple, Litecoin, Dash, or any of the others, or not, of course remains to be seen."

source: investorideas.com 
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