Crypto investors have more diverse backgrounds than traditional stock investors, according to the University of Chicago

A survey conducted by Norc at the University of Chicago found that 41% of those who stored cryptogeld were women and 44% were people of color, but only 38% of women and 35% of people of color said they had a traditional stock. 

Angela Fontes, an economist at the University of Chicago, cited the main reasons why cryptocurrency is popular with female audiences decisively, namely because of the perceived availability of cryptocurrency compared to the traditional stock market.

“There is a world of knowledge about the stock market and how to trade, which stocks to trade, full of terminology that you have to learn and understand first. there is much more information in crypto at the basic level because it does not have the same maturity as traditional equity investments.”

In October, the researchers found that in addition to crypto investors becoming more and more female, investors were younger and were in a lower economic situation than traditional stock investors.

The study notes that most investors have started investing in cryptocurrency in the past six months, and most of those surveyed receive their information through crypto exchanges (2 percent), compared with 26 percent who receive information directly through a consultant or broker.

 Angela Fontes, vice president of NORC’s Department of economics, justice and Society, commented on the careful balance to consider before investing in cryptocurrencies:

“Cryptocurrencies open up investment opportunities to more diverse investors, which is very good,” he says, “it will be important for these investors to have access to reliable information as they make decisions about these often more volatile investments.”

As previous studies have shown, those who most likely don’t invest in cryptocurrencies are cited lack of knowledge as the main reason. A University of Chicago study found that 62 percent of respondents said:

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