A new survey from eToro has found that nearly half of online investors state that a lack of educational resources is the main reason for not trading crypto.
The global investment platform commissioned Provoke Insights, an independent market research and strategy firm, to conduct the online survey among 1,000 online investors between the ages of 20 and 65. Notably, it found that education is a key barrier to investors from buying cryptocurrencies, with 44% indicating as such.
Even among Millennials a lack of education is felt, with 40% saying that the main reason they don’t invest in cryptocurrencies is due to limited educational resources. However, despite the 2018 bear market, it hasn’t done much to slow investors’ interest in the industry. In fact, the survey found that 97% of both Millennial and Gen X crypto traders said they are interested in learning more about cryptocurrencies.
Online investors are still keeping their eye on cryptocurrencies, but this survey revealed that there is a serious lack of educational resources available to those who would like to invest in or learn more about crypto, said Guy Hirsch, the U.S. managing director at eToro. As we move toward a future where assets will become increasingly tokenized, it’s important to give investors access to the resources they need to invest in the assets they want and truly consider crypto assets as part of their long-term investment plan.
According to the survey, there are limited ways investors are keeping up-to-date with their crypto learning. This is through their online trading platform and social media, at 67% and 43%, respectively. Regarding social media, YouTube and online crypto chat forums seem to be the most used avenues.