The More UK & US Crypto Traders Know, The More They Risk - Survey
Cryptocurrency traders in the US and the UK are showing a growing tolerance for risk as they gain experience, according to a report by major payments solutions provider Paysafe.
The survey was commissioned by Paysafe and conducted online by independent research house Sapio Research last October among 2,015 consumers living in the two countries.
Its results demonstrated that traders show a higher inclination for taking risks as their confidence grows, “with 35% of the community describing their risk appetite as high or very high when they first acquired crypto, versus 37% today,” according to the report.
Among the UK respondents, a total of 72% described their current risk appetite as moderate, high or very high, while in the US, the same answers were provided by an aggregate 70% of respondents.
This shows a significant increase compared with the declared risk appetite of the same traders at the time when they first acquired and/or traded some cryptocurrency - with 64% of them (both in the UK and the US) giving the same answer for that time period.
The survey also shows that more people, at 25%, own crypto because they find it is the finance’s future than any other reason, followed by those who buy crypto for fun or the thrill of trading, at 21%. An additional 20% said that crypto allows them to diversify their assets and investment portfolios.
At the same time, crypto trading is the primary source of income for only 12% of the surveyed.
55% of respondents would like to be paid in crypto if given the opportunity even if cryptocurrency trading wasn’t or isn’t their main job. More favorable responses on this question come from the US, at 60%, than from the UK, with 49%.
When asked for the reason why they would like to receive
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