2023-05-02 12:42:38
Frankly News – The results of a survey conducted by the US Financial Industry Regulatory Authority showed that there is a social component to investing in cryptocurrencies that is not clear in stocks or investing in bonds.
A survey of the authority indicated that 31% invested for the first time in cryptocurrencies in 2022 due to the influence of their friends.
The results showed that only 8% are invested in stocks or bonds and are influenced by their friends, i.e. there is an effect of social relations on investment.
Investment reasons
The purpose of the survey conducted by the authority was to investigate the reasons that drive people to invest in cryptocurrencies.
The ability to invest in small amounts was the second biggest reason for getting involved in the cryptocurrency market, at 24%.
More than 10% of respondents fear of missing out on something, known as “FOMO,” is the reason they bought cryptocurrencies in the first place.
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#Social #relations #impact #investing #cryptocurrencies
