2021 Brought a Record Number of First-Time Crypto Buyers
Last year has brought a whole myriad of interesting things to the cryptocurrency market, with NFTs exploding and Bitcoin reaching a new ATH in November. Additionally, a recent Gemini report confirms that global interest in crypto is, indeed, increasing rapidly.
Gemini has surveyed nearly 30,000 people across 20 countries. Its most noteworthy finding is that 41% of the global crypto owners purchased crypto for the first time only last year. In some countries, the number of first-time buyers even surpassed 50%. Interest in buying cryptocurrencies rises even in people who do not currently own crypto.
Moreover, 41% of respondents who currently did not own crypto expressed they were curious about learning more about it and said they were likely to acquire digital assets this year. The crypto gender gap may also be narrowing, as 47% of those curious to start investing in 2022 were women.
The report also showed that countries with high inflation tend to lead in cryptocurrency adoption. This was most likely a factor that resulted in many new users entering the crypto market last year.
When it comes to concerns that prevent people from investing, many are worried about the volatility of the crypto market and have concerns about security. When asked what would make them more comfortable when purchasing cryptocurrency, many responded that they would like to have more educational resources on crypto.
Crypto is ever so slightly perceived as the future of money. This belief is especially prevalent among respondents from countries that have experienced long-term hyperinflation. Globally, crypto is seen as a store of value, as the vast majority of crypto buyers say they invest in cryptocurrency for its long-term investment potential.
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