No, Cryptocurrency Isn’t Just for Young, Rich, White Guys in Suits – Everyone Can Play

Stereotypes around whom the typical cryptocurrency mega fans are, probably aren’t unfounded, but that doesn’t mean that crypto isn’t of huge interest among people of all genders, ages, cultures, and economic backgrounds. 

Let’s do a little experiment. Picture a stereotypical Bitcoin mega fan, and let your mind wander. What does that person look like? If you automatically pictured a young, well-to-do white male, either in a suit or looking like he’s stared at a computer screen for days, you wouldn’t be far off.

In fact, statistically speaking, studies show that wealthy or well-off millennial men from urban areas are the biggest supporters and most common users of cryptocurrencies. 

Who invests in Cryptocurrency?

Men vs women

A study conducted by Clovr, asked 1,000 Americans whether or not they had invested in any form of cryptocurrencies like Bitcoin, Ether, or Litecoin. The answers were as follows. While 47% of the men questioned claimed that they had invested in cryptocurrency at least once, only 23% of women said the same.

Generations 

When categorizing the 1000 Americans surveyed into 3 groups of Millennials, Generation X and Babyboomers, the results came back as, the younger the person, the more likely they were to invest in cryptocurrency. Nearly half of the Millennials surveyed said that they had invested, while Gen X came in at 24% and Babyboomers, at just 18% that claimed to have invested.

Income

And finally, when it comes to income, it turns out that money does matter. According to the survey, only 24% of people that made less than $25,000 claimed to have invested in cryptocurrency at some point in their lives. Those that made $100,000 or more, on the other hand, came out to be 43%. 

So, the stereotypes are true? Hold on a second – there’s more to this than meets the eye

Let’s look into the findings a bit further. This information could be read as young wealthy men just being more interested in cryptocurrency than other groups of people, but if we look at it in another, possibly more realistic light, we could see things a bit differently. 

It very well could be that the men in the top bracket of the cryptocurrency fan club, just have easier access and more means to invest in cryptocurrency. As digital currencies like Bitcoin gain more and value, it has admittingly become more difficult for more people to get started. Maybe even a bit more exclusive, one could say. 

But this isn’t entirely the case. Coins like Ethereum allow people to purchase coins at a fraction of their full value, making it much easier for the average person to jump in on investing. 

Who is the ideal crypto investor?

As the title reads, everyone can play ball in the cryptocurrency field. And that’s actually how the creators of crypto intended it to be in the first place. 

Cryptocurrency is all about leveling the playing field, so that even those that weren’t a part of the top Wall Street circles, could still have equal chances at financial freedom. 

So, while anyone from any adult generation, of any gender or culture, can join in on the fun, there are some characteristics that make a person “better” at cryptocurrency than others. 

Knowledgeable

Being well-educated in the complex terminology and technicalities of the cryptocurrency world is one thing that can turn a rookie investor into a skilled expert. Although this takes a hefty amount of time to accomplish, it is a task well worth the while, for any person that is ready to start investing. 

Level-headed

Being a calm, rationally thinking, and a level-headed person can completely change the outcome of a person’s investment. Making smart decisions at the right time is what ultimately defines a great crypto investor.

 Eventually, as more people gain access to cryptocurrency education and investing becomes more inclusive, the image of what a typical cryptocurrency supporter looks like will surely change. 

Bonus tip – protect your Bitcoin wallet

You’ve got to start somewhere. Even the top dogs made rookie mistakes at one point. But learning from other people’s mistakes can help beginners save valuable time and money. 

Plan ahead and research a great service for recover bitcoin wallet if needed

Getting locked out of your Bitcoin wallet is less than ideal, but it can happen. If just one set of private keys are lost, there is hope. A trustworthy recover Bitcoin wallet service can help regain access by using cutting-edge brute force tactics. It’s better to research these recover bitcoin wallet services sooner than later. 

About Carson Derrow

My name is Carson Derrow I'm an entrepreneur, professional blogger, and marketer from Arkansas. I've been writing for startups and small businesses since 2012. I share the latest business news, tools, resources, and marketing tips to help startups and small businesses to grow their business.