While the crypto sector continues its fluctuations, Overbit has released some interesting data regarding the community after its latest survey. The leading Bitcoin exchange conducted a survey involving 3,000 crypto traders across 87 countries. The survey highlighted details related to crypto exchange selection, trading strategies, and diligence techniques.
The survey spanned two weeks and took place back in March 2021. As per the report, over 34% of traders expected the crypto sector to go higher. Users should note that the cryptocurrency community was already witnessing a record-breaking high at that point. An interesting pattern was pointed out among the traders with 1-2 years of trading experience as they were highly optimistic about the industry.
Over 44% of them expected the sector to rise while most traders speculated a relatively less-bullish trend. As expected, Ethereum and Bitcoin remained the two most popular crypto choices among the lot.
The ownership statistics for Bitcoin did not differ much from 2020’s report. However, Ethereum experienced a substantial increase in this regard. Among the 3,000 traders, almost 65% owned Ethereum, which was 50% back in 2020.
Most of the correspondents (65%) stated that they left cryptocurrencies in exchange wallets. Surprisingly, only 25% of the respondents used cold wallets to store crypto. Among the traders, 9% accepted losing cryptocurrencies due to a security breach. However, almost 11% stated that they lost digital assets kept within a private wallet. The statistics showcased how exchanges are offering a better security performance than cold wallets.
Cheh Liu (Founder and CEO of Overbit) stated the crypto sector had evolved substantially in the past few years. Traders are showing more trust in crypto exchanges, eliminating the issues faced by new traders. In addition, the crypto sector is garnering global adoption, and as the standard financial means face decreased interest rates and inflation, traders prefer cryptos like Bitcoin over them.
The report supported the statement, revealing that 32% of the new traders only invested in cryptocurrencies in 12 months.
Overbit, the well-known Bitcoin exchange platform, recently revealed the findings of its latest survey. The report conducted back in March 2021 showcased interesting exchange selection, crypto preferences, diligence techniques, trading strategies, and more information.