New American crypto investors cited 'friend suggestion' as one of the primary reasons for dipping their toes into the crypto waters in 2022, a survey reveals.
Influence from friends and the fear of missing out were some of the reasons investors bought crypto for the first time in 2022, according to a survey by a United States financial regulator.by the United States Financial Industry Regulatory Authority Investor Education Foundation in late April, the survey found that a large portion of new cryptocurrency investors cited"friend suggestion" as the primary reason for their foray into crypto.
This is compared to only 8% for first-time equities or bond investors, potentially indicating that there is"a social element to cryptocurrency investing not evident in equities or bond investing," according to FINRA.for making a move into the crypto market at 24%, similar to equities and bond investors.
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