• According to a study conducted by Bybit and Toluna, 64% of North Americans spend less than two hours or don’t research at all before investing in cryptocurrencies.
• 15% of North Americans don’t do any research before investing in crypto, while 49% spend less than two hours.
• Boomers (those aged 56-64) tend to be more cautious, focusing on technical factors and inspecting the market a few days before diving into it.
A recent study conducted by Bybit and Toluna has revealed that most North Americans don’t take the time to do the proper research and due diligence before investing in cryptocurrencies. The survey included over 10,000 individuals, with 64% of respondents reporting that they either spent less than two hours researching the market or didn’t do any research at all before investing.
The survey results indicated that 15% of North Americans don’t do any research before investing in crypto, while 49% spend less than two hours. These numbers are especially concerning when considering the volatile and unpredictable nature of the crypto market, as even a few hours of research can be the difference between a good and bad investment.
Interestingly, the survey also found that Boomers (those aged 56-64) tend to be more cautious than other age groups when it comes to investing in crypto. Boomers are more likely to focus on technical factors and inspect the market a few days before investing, which could be attributed to the fact that they have more experience in the financial world.
These findings are a stark reminder of the importance of doing proper research before investing in anything, particularly in the crypto market. Even a few hours of research can make a huge difference, and can help you make informed decisions that lead to successful investments.