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SINGAPORE, June 24, 2021 /PRNewswire/ — Overbit.com, a number one Bitcoin buying and selling platform, has revealed its annual in-depth report on cryptocurrency dealer behaviour, tendencies, and sentiment. Over the course of two weeks in March 2021, Overbit surveyed over 3,000 distinctive particular person cryptocurrency merchants throughout 87 completely different international locations.
Along with assessing buying and selling habits, Overbit requested survey members their preferences on a wide range of matters—together with cryptocurrency storage, due diligence strategies, buying and selling methods, and alternate choice.
Although the crypto asset class posted record-breaking value progress through the first quarter of 2021, 34% of respondents informed Overbit they’re anticipating valuations to climb even additional. Apparently, optimism was the highest (44%) amongst cryptocurrency customers with 1–2 years value of buying and selling expertise. Novices {and professional} merchants have been much less bullish, however not by a lot.
Bitcoin (BTC) and Ethereum (ETH) stay the most well-liked cryptocurrencies amongst merchants, in keeping with Overbit’s report. Possession figures for the previous remained unchanged over the earlier yr’s survey outcomes, whereas Ethereum has seen a major improve. Nearly two-thirds (65%) of the survey’s respondents held ETH, up from 2020’s 50% determine.
To grasp how merchants sometimes retailer their cryptocurrency, Overbit requested respondents whether or not they entrust their digital asset holdings to a 3rd get together.
Almost two out of each three respondents (65%) mentioned they like leaving their tokens on an alternate. On the opposite finish of the spectrum, a mere 25% of merchants use a chilly pockets for cryptocurrency storage.
9% of surveyed merchants informed Overbit that they’d misplaced a portion of their cryptocurrency holdings because of an alternate hack or safety breach up to now. Nevertheless, 11% of respondents acknowledged shedding entry to digital property held in their very own non-public wallets. This means a barely decrease chance of loss amongst those who resolve to retailer their cryptocurrency on an alternate.
CEO and founding father of Overbit Cheh Liu commented, “The cryptocurrency trade has matured considerably over the previous few years. Retail merchants can now depend on exchanges to be trusted custodians, thus eliminating most of the limitations new merchants confronted earlier.”
Overbit’s newest report additionally contains key insights into rising tendencies within the cryptocurrency ecosystem, by contrasting responses collected in each 2020 and 2021.
This yr 20% fewer novice buyers acknowledged shedding cryptocurrency resulting from a private error. On the due diligence entrance, the recognition of Twitter jumped 10% when in comparison with Overbit’s 2020 survey outcomes. Overbit additionally discovered that respondents confirmed a stronger choice for buying and selling on cell platforms in 2021, with the recognition of desktops falling by round 8%. These tendencies present a gradual, however clear shift in dealer behaviour.
Overbit’s 2021 survey additionally centered on the impression of the continuing COVID-19 pandemic on dealer behaviour. 56% of all surveyed people acknowledged taking up the next diploma of funding danger over the course of the pandemic.
“Consciousness of the cryptocurrency market — and even conventional asset lessons — are on the rise amongst retail merchants. In the meantime, within the face of rising inflation and falling rates of interest, buyers are more and more wanting in the direction of progress property equivalent to Bitcoin,” Liu defined. “It’s due to this fact no shock that dealer danger urge for food has grown considerably over the previous yr.”
32% of novice merchants acknowledged making no investments outdoors cryptocurrency over the previous yr. This statistic means that cryptocurrency represents many people’ first ever publicity to managing private investments. Nonetheless, 35% of respondents throughout all talent classes made at the least one fairness commerce over the previous 12 months.
Lastly, Overbit requested respondents whether or not they held any stake within the Decentralised Finance (DeFi) and Non-fungible token (NFT) ecosystems. 66% of surveyed merchants didn’t personal a single DeFi-related asset over the previous twelve months — suggesting that the $60 billion trade nonetheless has a approach to go earlier than reaching crucial mass.
For extra particulars on the survey, please go to:
https://content.overbit.com/docs/Overbit-Traders-Survey-2021.pdf
For extra enquiries:
Contact individual: Junice Liew, Head of Digital Advertising and marketing
Electronic mail: press@overbit.com
Web site: https://www.overbit.com
About Overbit
Overbit is a Bitcoin margin buying and selling platform, headquartered in Singapore. Overbit gives a variety of markets inside crypto, foreign exchange, and commodities—with leverage of as much as 100X for crypto and 500X for foreign exchange.
Threat Warning:
Margin buying and selling carries a excessive stage of danger to your capital, and it’s best to solely commerce with cash you may afford to lose. Margin buying and selling will not be appropriate for all merchants, so please be certain that you totally perceive the dangers concerned, and search impartial recommendation if crucial.
Disclaimer:
The content material on Overbit’s web site, weblog, social media or some other platform just isn’t meant to focus on any particular nation or territory and its residents. Please examine the relevant laws of your nation or territory earlier than accessing Overbit’s platform.
Media Contact:
Junice Liew
Head of Advertising and marketing
press@overbit.com
SOURCE Overbit
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