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Study: 64% of North Americans invest in crypto without ‘any research at all’

Study: 64% of North Americans invest in crypto without ‘any research at all’

It is becoming more vital for investors to have a solid understanding of the crypto space to navigate safely and securely as it continues to expand.

When discussing the cryptocurrency investing process, the term “crypto literacy” refers to an investor’s level of familiarity with and understanding of the digital assets environment. The quickness and surprising size of recent market drawdowns may have taken unwary individual investors off guard.

In particular, 64% of North American investors spend less than two hours or don’t do any research at all before making a crypto investment, according to Bybit and Toluna’s Crypto Investment Literacy report published on January 16.

Before deciding how to spend money on investments, one must do one’s own research and analysis. However, two of every five cryptocurrency investors do less than two hours of due diligence before investing.

Time spent on due diligence. Source: Bybit

The nations of Asia and the Pacific’s emerging economies devote the most time to research. Surprisingly, when looking at generations, Boomers are the ones that put in the most time doing their analysis.

Boomers, in contrast, are shown to be the most cautious and risk-savvy investors, With 34% of Boomers spending a few days carrying out their own research, 50% more than other generations before investing.

Crypto due diligence behavior 

In addition, the findings of the research indicate that Boomers, on average, are 20% savvier than other generations because they place a greater emphasis on technical variables. 

Savvy boomer investors. Source: Bybit

Meanwhile, prospective investors prioritize a token project’s reputation more than they do the project’s technical factors.

What investors look for in a cryptocurrency token. Source: Bybit

In contrast to the method used to choose token projects, the day-to-day business practice aspects of centralized exchanges (CEXs) are favored by a margin of 30% greater than reputational factors.

Even though cryptocurrency is still in its infancy as an asset class, investors continue to have faith in its long-term development potential, exhibiting long-term investment horizons ranging from seven months to over two years. 

In point of fact, Boomers and members of Gen X have the strongest diamond hands since they have been hodling for at least six months.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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