• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Crypto Bitcoin BTC BTCUSD
Nexo

Crypto Among Most Regretted Financial Decisions In America, Survey Finds

Reynaldo Marquez by Reynaldo Marquez
2 months ago
in Crypto News
0

Data published by ConsumerAffairs, provided by a recent survey, claims crypto is one of the most regretted financial decisions, especially for older generations. Often called “Boomers”, these groups of people feel remorse about investing in this nascent assets class, as the study claims.

Related Reading | Top DeFi NFT Projects to Watch out for in 2022

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Conducted with over 1,000 adults in the U.S., the study aimed at discovering the country’s financial behavior in hindsight. The survey asked the participants about the frequency of feeling regret for not making a financial decision and find it’s a common feeling amongst Americans.

Around 22% of the responders said to always feel or often feel regret financial decisions after making them, while 45% replied sometimes. A minority of the respondents said to never or rarely experience this feeling.

The study indicates that people with “advanced” educational degrees were more inclined to experience regret over financial decisions than those without advanced degrees. In this context, younger generations, particularly those refer to as Gen Z, are “more likely to regret financial decisions”.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Furthermore, the study attempts to pin down the biggest financial regrets in the long term and the respondent’s net worth if these “mistakes” could have been avoided. The majority of participants believe credit cards have had a long-term impact on their finances.

As seen below, people in the U.S. blame too much credit, low savings for retirement, savings for emergencies, and few long-term investments for absorbing a big chunk of their wealth. Overspending is also a big factor in this metric.

crypto
Source: ConsumerAffairs

Ironically, people with advanced degrees, those with perhaps more capacity to generate wealth, regretted spending too much on education, or overspending on the real state. 11% of respondents believe they could have as much as $100,000 more if it weren’t for these factors.

The study fails to provide data on the impact of inflation on people’s wealth. According to the latest Consumer Price Index (CPI), inflation stands at a multi-decade high close to 8% and could be reducing people’s purchasing power.

Over the same period, Bitcoin and the crypto market managed to surpass $2 trillion in total market capitalization.

Boomers Regret Buying Crypto

When the COVID-19 pandemic began worldwide in 2020, people increased their demand for digital assets, services, and products. The survey claims people have regretted their property purchase during this period.

Most of the respondents regret buying houses, cars, and crypto as investment vehicles. As seen below, 49% of respondents regret buying a cryptocurrency, while 32% said they are glad versus 20% neutral.

While those that missed out on one of the biggest rallies since Bitcoin was created are said to feel neutral about not getting into this sector. Only 16% of the respondents regret not buying versus 34% who said they are glad that they stay out of it.

crypto
Source: ConsumerAffairs

NFT holders record similar results with 46% of buyers regretting their purchase versus 40% of non-buyer saying they are glad they didn’t invest. The study claimed:

Cryptocurrency and unique collectibles became hot investment opportunities during the COVID-19 pandemic. (…). Survey respondents who bought into crypto found themselves sharply divided.

The data provided by the study hints at house “overspending”, but real estate and construction cost prices have seen as much as a 20% increase in 2021 alone. A separate survey from Nationwide indicates the average investor is “being priced out of the market”.

In this inflationary environment, crypto and digital assets have been one of the only assets capable of generating yields above the CPI. The long-term investor seems to understand that.

Going back to the first survey from ConsumerAffairs, digital assets have climbed higher in people’s retirement plans. 28% of respondents said they wished to have invested in the sector for their retirements. Mutual funds, ETFs, and traditional investments still dominate.

crypto
Source: ConsumerAffairs

Related Reading | The Nightly Mint: Daily NFT Recap

At the time of writing, Bitcoin trades at $42,300 with sideways movements in the last 24-hours.

Bitcoin BTC BTCUSD
BTC with moderate gains on the 4-hour chart. Source: BTCUSD Tradingview
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Reynaldo Marquez

Reynaldo Marquez

Related Posts

Terraform

Terraform Labs’ Legal Team Quits After UST Crash – Another Blow To Kwon

4 hours ago
Crypto

Crypto Subsidiary To Be Launched By Japan’s Largest Investment Bank

9 hours ago
US Justice

US Justice Department Executes First Criminal Crypto Charge

22 hours ago
DAO

DAO For Abortion, Anyone?

1 day ago
Goldman

Goldman Sachs And Barclays’ Investment In Elwood Tech A Major Triumph For Crypto Adoption

2 days ago
crypto

Crypto Regulators From 5 Countries Identify A Potential $1 Billion Ponzi Scheme

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.