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Most Bitcoin enthusiasts are rich, males, and young: Survey finds

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According to Clovr, the average Bitcoin fan (we should better say investor) is a rich-young-male, living in prominent places. These male folks are rich and are earning more than $75,000 annually, according to the recent survey.

Clovr, a technical blockchain company that has conducted the research done on more than a thousand people residing in America, is poised on making blockchain go mainstream.

So, as the survey shows, the crypto-world is well-dominated by young male folks, and this shouldn’t be surprising (we all have been hearing that the crypto is a male-dominant space). The survey has also shown that millennials are very much into cryptocurrencies than any other type of generation.

According to the survey, it has been revealed that most of these young male folks invest in cryptocurrencies in the hope of getting huge profits, rather than thinking cryptos will be the main medium of exchange.

Furthermore, more than 75% of people are conversant with what cryptocurrencies are, especially Bitcoin; also according to the survey, about 62% are self-reliant that they can explain what cryptocurrencies are to newbies.

About 70% of the people surveyed also voiced out their feeling on cryptocurrencies. They are uncertain on cryptocurrencies, given that the crypto sphere is mainly volatile and unpredictable.

More than 40% of these male folks have said that despite the volatility of cryptocurrencies, especially Bitcoin, the main reason why they have ventured into cryptocurrencies was due to FOMO (Fear-of-Missing-Out). Others who do not invest in cryptocurrencies said the cause was not to lose their hard-earned funds (a good one).

According to the survey, also, the main reason why men control the cryptocurrency world is because men are more willing to take risks than women – no matter what the outcome might be (we do not say that’s 100% true).

To back up that fact, a survey in 2016 stated that women who are into digital trading take lesser risks. Nonetheless, it is important also to note that the number of women into cryptos are now growing by the day and it will increase once the general crypto-system is wholly decentralized and free of online thefts. In accordance with that, the United States has unveiled 3 pro-crypto laws to enhance the growth and adoption of the cryptos.

Tom Emmer, the co-chairman of the Congressional Blockchain Caucus, said,

Law-makers should be accommodating the latest blockchain technologies and offering a clear regulatory body that will make them grow in the U.S. This is an exciting time for blockchain technology and cryptocurrencies

Moving forward, blockchain is increasingly being adopted worldwide today, but most people still have the notion that cryptocurrencies such as Bitcoin can’t be able to replace fiat currencies – not yet. For people to begin to recognize the fact that it would, cryptos need to be on everyday apps that people use for their daily activities.

Mike Cribari, the co-founder of Clovr states,

It’s hard for people to understand things like private keys and transfers. People need to be able to use cryptocurrencies more for things like buying their lunch.”

Applications and mediums to help cryptocurrencies be part of our daily lives are being worked on at the moment. With the launch of notable applications such as Bakkt, we should see Bitcoin and other cryptocurrencies widely accepted by everyone very soon.

For the global insights every crypto trader must have, apply for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving
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In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on…

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IE Option – 91% Profit on BTC Fluctuations in Every 60s

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On Thursday, Bitcoin price broke below $6,700 and hit the weekly low to $6,480. Then, it rebounded back above $7,000 again with an increasing rate of 5%. At press time, based on the incomplete statistics, more than $720 million worth cryptocurrency futures contracts have been liquidated in this week. During the strong market fluctuation, investors are learning a hard lesson about the downside of cryptocurrency futures trading with leverage. 

Since we know that we cannot make money by investing in BTC spot trade during the bear market, and we notice the high risks of liquidation by trading leveraged bitcoin futures contracts, how can we hedge the loss in spot trade and profit from the BTC market volatility? 

BTC Option is a profitable trading product that you can turn to!

What is Option?

Option is a type of crypto derivative contract which enables investors to make speculative bet on price rising and falling. Call option means that trader long BTC at a given strike price, while Put option allows trader to short BTC at a given strike price. 

For example, if you predict that BTC price may surge, you can buy a call option. Suppose that you buy a call option at $7,000. As long as price exceeds $7,000, you can make profit. 

IE Option – Get…

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4 things you should know about bitcoin casinos

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Bitcoin Casinos are the ideas of innovation, firmly moving towards the goal of disrupting the whole Gambling Industry. Best Bitcoin Casinos are the true trailblazers of the new era of gambling. Their creators quickly recognized all the immense potential that blockchain and cryptocurrencies contained within themselves. Most of the top Crypto Casinos started operating in the first half of the past decade and are quickly moving towards being the dominant force, when it comes to online gambling. There are a couple of key characteristics and advantages that elevate BTC Casinos above the rest of the competition on the market.  

Trusted casinos have fast withdrawals

Only the Best Bitcoin Casinos offer players the benefits that come with using cryptocurrencies as the main source of finance. One of the biggest advantages that BTC Casinos have over the rest of the competition is speed. When using cryptocurrencies, players can deposit and most importantly withdraw their money with blistering speeds. Thanks to blockchain technology, all the financial transactions are completed within the minutes of request. Alternatively, standard online casinos operating under the guidance of classical banking intuitions, need several days to complete the same procedures.

In BTC Casinos anonymity matters 

Another amazing benefit of Bitcoin Casinos is the ability to stay completely anonymous during the transactions and gameplay. Thanks to the…

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