Investment apps are giving people more ways than ever before to buy and sell cryptocurrency.
Apps such as Robinhood, SoFi, Webull, Public and others have simplified the process for retail investors.
These apps act as crypto brokers, placing digital coin orders directly with exchanges on the users behalf.
New to the game:66% of investment app users got started since 2020.
Investment App Users Eye Cryptos Big Paydays
Volatility is a trademark of cryptocurrency.
Yet a majority of investment app users accept those roller-coaster price fluctuations in exchange for high potential payoffs.
No Interest Til Almost 2027?
On the flip side, nearly 30% of survey respondents considered cryptocurrency a low-risk investment.
Those perceptions coupled with investors real money have been on a wild ride.
Ethereum also experienced eye-popping growth in 2021, rising in value by more than 400%.
Bitcoin, Ethereum and Dogecoin Are the Most Popular Coins Among Investment App Users
Bitcoin reigned No.
1 with investment app users 52% of respondents say theyve bought the digital coin.
Ethereum ran second with 35% of respondents buying in.
Celebrities arent financial experts, and their growing influence over young investors is raising concern and prompting legal action.
The lawsuit is the latest example of cryptos mainstream popularity and speculative nature.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder.
Responses were weighted for age and gender so that each response is representative of the U.S. population.
The overall surveys margin of error is +-2 percentage points at a 95% confidence interval.
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