According to a recent survey conducted by the US Financial Industry Regulatory Authority (FINRA), the behavior of new investors in the cryptocurrency market varies significantly from those who venture into traditional equities or bond markets. The survey found that a significant number of new cryptocurrency investors were primarily motivated by recommendations from friends, with 31% citing this as the reason for investing in digital assets, compared to just 8% for equities or bonds.

Interestingly, the survey also highlighted the social element of cryptocurrency investing, which is not as apparent in traditional markets. In addition, the ability to start with small amounts was the second most popular reason for investing in crypto, at 24%, similar to equities and bond investors.

Friends strongly influence new crypto investors | Source: FINRA

However, the survey also revealed a sense of FOMO among investors, with around 10% of respondents indicating that the potential for a lucrative investment opportunity drove them. The survey also showed that friends, family, or colleagues were the primary sources of information for crypto investors, with 48% of respondents relying on these sources.

The survey also found that 25% of respondents considered social media as an essential source of information. Moreover, the survey showed demographic differences between investors in cryptocurrency and traditional stocks. In particular, new crypto investors were found to be younger, with an average age of 37, and less likely to hold a college degree, with only 28.5% completing a four-year degree, compared to stock investors.

The survey revealed that digital asset owners had less knowledge about cryptocurrencies than they believed. When tested on a five-question quiz about the issuance, conversion to US dollars, taxation, and the possibility of fraudulent transactions in cryptocurrencies, digital asset investors scored an average of only 26.6%.

The survey was carried out from September 9 to September 29, and a total of 465 individuals from US households were randomly selected as participants. The margin of error for the survey was 6.75%. It was a follow-up to a similar study conducted in 2020. It is evident that investing in cryptocurrencies is a constantly changing and intricate field, and investors need to possess adequate knowledge to make informed investment choices.

#crypto #socialmedia #influencer #crypto2023 #cryptocurrency

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

In the world of digital entertainment and influence, few names have recently made as big of a splash as Robert Pistillo. From his humble beginnings as a YouTuber to his glamorous debut at the 76th International Festival of Cannes in 2023, Pistillo has not only showcased his creativity and elegance but has also ventured into various sectors, establishing himself as a multifaceted entrepreneur.A Journey from YouTube to CannesRobert Pistillo first gained recognition as a digital creator and YouTuber, captivating audiences with his unique content and charismatic presence. His rise to fame was marked by the great success of the 79th International Festival of Venice and Rome, where he demonstrated a penchant for refined elegance by gracing the red carpet in striking all-black attire.However, his journey didn't stop there. In 2023, Pistillo achieved another remarkable milestone by making his debut at the 76th International Festival of Cannes. This time, he left an indelible mark on the world of cinema and entertainment by showcasing his impeccable style and captivating the attention of not only worldwide viewers but also influential Hollywood directors. His foray into Cannes is a testament to his versatility and determination to conquer new horizons.A Multifaceted EntrepreneurBeyond his digital success and rising stardom in the world of cinema, Robert Pistillo is making significant strides in the business world. His entrepreneurial endeavors include owning the number one clothing brand in the world, known for its adrenaline-pumping style. His clothing line, available at (https://instagram.com/shop_for_man_and_woman), has garnered a global following for its innovative designs and trendy fashion.Moreover, Pistillo has expanded his footprint in the marketing world, owning a service marketing agency known as PowerGold Agency, catering to various sectors, including activities, companies, agencies, brands, shops, and influencers. The exponential growth of this agency, (https://instagram.com/powergold_agency), is a testament to Pistillo's strategic vision and ability to facilitate the growth of businesses and individuals in the digital age.A Force to be Reckoned WithRobert Pistillo's remarkable journey from a digital creator to a Cannes debutante and business mogul showcases his dedication, creativity, and ambition. His ability to excel in multiple spheres of entertainment and business is a testament to his versatility and relentless pursuit of success.As he continues to make waves in the entertainment and business worlds, one can only anticipate what groundbreaking projects and innovations Robert Pistillo will unveil in the future. He is undeniably a force to be reckoned with, leaving a significant imprint on the ever-evolving landscape of digital influence, cinema, and entrepreneurship.#RobertPistillo #influencer #digitalcreator

Women are no longer taking the back seat when it comes to investing and educating others of the benefits of crypto, which is why there is a relatively higher number of women that are coming into crypto space.

Here are my top 5 women crypto influencers across different industries.

1) Cathie Wood: The CEO of Ark Invest, an investment management firm that holds about $14 billion in different assets spread across different industries.

She has a lot of dealings and background in traditional & stocks as an asset manager but she is also very bullish on the future of Bitcoin and AI technology .

Her Net Worth is $60 Billion

2) Laura Shin: She is one of the first mainstream journalists to cover crypto full time through different interviews with some of the biggest names in crypto industry. 

She left her job as a senior editor at Forbes in 2018 to focus on her podcast “Unchained" which presents the ideas and thoughts of different people in crypto space. She is also an Author of a book called “Cryptorians"

3) Elizabeth Stark: I just love her name, it's giving boss.

She is the Co-founder and CEO of Lightning Labs. A layer 2 solution that seeks to improve on Bitcoin “Scalability" issues. 

She calls it “the visa network for bitcoin" because it is their plan is to build an ecosystem that helps enable faster and cheaper Bitcoin transactions.

Lightning Network has a massive potential that could make Bitcoin to be recognised and used as digital cash for payments, not just a store of value.

4) Joyce Kim: She is the co founder and executive director of Stellar. Stellar (XLM) is a digital currency platform that enables seamless communication between different financial systems and currencies like Fiat and Crypto.

She and her team developed "Stellar" as a platform that enables people with low financial income to send and receive money globally at almost no cost.

Joyce believes that the same way the internet connected the world in the aspect of fast communication, Stellar will do the same for money.

5) Meltem Demirors: She is the chief strategy of coinshares, an investment firm managing almost 800 million dollars in assets. she bought Bitcoin when it was only $150 and has been bullish on crypto ever since.

When asked if new investors can still experience that kind of huge profit potential that early coins or tokens had as there is now a lot of people looking to make money in crypto?

Her response was understandable as she was able to give her reason to be that the people who will make the most money in crypto are people who identify and quickly follow the market trends to know what coins to invest in.

#womenincrypto #influencer

Elon Musk is not just popular because of his wealth; his diverse contributions to improving the world have made him a widely recognized figure.

He has been one of the few individuals vocal about the harmful environmental impact of Bitcoin mining, leading developers to explore alternatives like the lightning network. Recently, Musk launched Starlink, which aims to provide fast internet connections to countries where it is available, addressing the issue of limited access or poor internet access in underdeveloped countries.

 Taking charge of Twitter, he introduced a feature that allows creators to monetize their content, benefiting both content creators and users—a true win-win situation.

Why Elon Musk is My Favorite Influencer:

 While some criticize his use of influence in the cryptocurrency market, his presence has undeniably contributed to the wider adoption and acceptance of cryptocurrencies.

Unlike many influencers who flaunt their wealth through luxury, Musk's investments are primarily focused on endeavors aimed at making a positive impact on the world.

Though this short post may not reach him directly, its purpose is to convey that Elon Musk is a genius who knows how to strategically leverage his resources to create meaningful change.

Musk's upcoming plans to enter the artificial intelligence market instill confidence that he will revolutionize the field and utilize AI for the betterment of society.

#influencer #feedfeverchallenge #Binance