Cryptoassets Provide a Gateway to Investing for a New Generation
CN [TL;DR]'s original article for www.ccn.com reduced by 47%
Wednesday 27 February 2019- New data released by global multi-asset investing platform, eToro shows that the crypto boom has helped to create a new generation of investors. The majority of new investors joining eToro in 2017 and 2018 purchased crypto. Iqbal V.
Gandham, UK Managing Director at eToro, from eToro said: "Everyday we read another story about how ordinary people, especially millennials, are not investing enough. Yet crypto shows us that if you can capture their interest then people will invest. Regardless of whether you believe in the long-term opportunity offered by crypto, it is worth us looking at what we can learn from these crypto investors, especially as we've seen that once they have dipped their toes into investing, some were then prepared to diversify." Globally, the most popular asset class for crypto investors to try next was stocks, with one-in-three of these investors doing so.
"We now have an opportunity to show those people whose first experience of investing was crypto, the other opportunities that exist. By making sure people can access all the assets they want to own in one place, we can encourage a new generation of investors to take more control of growing their wealth with a diversified portfolio of investments, including crypto." Globally, crypto positions lasted 71 days longer than the next longest-held asset, ETFs, which could indicate a belief in the long-term investment opportunity offered by cryptoassets. Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors.
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CN [too long; didn’t read]
Summarised crypto news.