What is the profile of people who invest in cryptocurrencies? In a Harvard Business School study, it appears that people who invest in cryptocurrencie
s have, on average, higher incomes, live in wealthier areas, are on average more educated, are risk-lovers, widely use credit cards, and often tend to overdrafts, that is, they take advantage of leverage when it is provided to them. Generally, they are people who are attracted by the prospect of potentially higher returns that aggressive cryptocurrency trading can offer compared to more conservative traditional investments in other types of financial products.
What it seems, according to the study, is that people are increasingly adopting cryptocurrencies as a medium of exchange. This means that more and more companies will have to start accepting cryptocurrencies as a form of payment. The study suggests that cryptocurrency investing has entered the mainstream, meaning businesses are likely to see more consumer demand to spend using cryptocurrencies instead of conventional currencies.
Despite this, according to the study, investors more often do not stay in crypto investments for a long time, as they seem more willing to cash out of crypto investments much earlier than traditional investments, a sign that confirms that the investors in the crypto market are much more willing to take on higher risks with potentially faster and higher returns than other investments.
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