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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

SEC Postpones Bitcoin ETF Decision Once Again

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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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What to Expect in 2019: BTC, BAT, and Steem

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There are only a few weeks of 2018 left, and considering how bearish and crypto-unfriendly this year was, a lot of investors will likely be pleased to see it gone. Many believe that 2019 will be the year that will correct BTC prices and bring forth the period of great recovery.

But what does that mean for digital currencies? Which ones are a good investment right now? This is something that we will, hopefully, be able to answer right now. Here are the top 3 coins that everyone should keep an eye on in 2019.

1. Bitcoin (BTC)

Of course, we have to start with Bitcoin, the first and largest cryptocurrency. Bitcoin has lost a lot in 2018, and its losses are unparalleled by any other coin. In fact, in terms of market cap, Bitcoin has lost as much as the rest of the crypto market put together.

Many believe that its rapid growth, which started in late 2017 and has brought it to its all-time high, is responsible. That the bearish 2018 was only a one large price correction of the last year’s price surge. Even if this is true, price corrections, luckily, all end sooner or later, and when this one comes to a close, Bitcoin will likely be ready for a big comeback.

2019 is expected to bring a lot that will serve BTC’s…

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The Three Biggest Problems with Crypto

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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

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