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#1 02-01-2019 16:13:55

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eToro survey reveals demand for cryptocurrency educational materials

An eToro survey reveals high demand for cryptocurrency educational materials
Article by financemagnats:

Leading social trading platform eToro released the results of a survey covering a number of different questions surrounding cryptocurrencies last week. The survey, which was carried out by eToro’s US social trading and copy trading division, suggests that there is a shortage of decent cryptocurrency educational materials on offer.

For instance, 68 percent of all respondents to the survey, including those who held cryptocurrency, said they were interested in learning more about cryptocurrency trading.

Of those who didn’t hold any cryptocurrency, approximately 74 percent said that they were not knowledgeable about the asset class. More worryingly, 20 percent of those who did hold cryptocurrencies said the same.

Amongst the people that said they didn't know anything about cryptocurrencies, almost half said that this lack of knowledge was what prevented them from investing in the asset class.

Significantly, 96 percent of Millennial and Gen-X respondents to the survey, who had invested in cryptocurrency, said they were interested in learning more about cryptocurrency assets.

Though men and women diverged in their self-belief, with 72 percent of women saying they lacked cryptocurrency knowledge as opposed to 55 percent of men, the two sexes were equal in their desire to learn more about cryptocurrency. According to eToro, 61 percent of both genders were interested or very interested in more cryptocurrency education.

eToro survey – a heads up regarding the future

Of course, one conclusion regarding all of this would be more education is going to lead to more investors. But someone saying that a lack of knowledge is preventing them from investing doesn’t mean that having that knowledge would lead to them investing. After all, it wouldn’t be illogical to study cryptocurrencies, and then believe they’re junk and that one should never invest in them.

For retail brokers, a paucity of knowledge could be both a blessing and a curse. Unscrupulous firms are, as is often the case, almost certain to take advantage of people’s ignorance and convert it into investments that line their pockets.

Those that are more forward-looking should be concerned by current educational materials. Forums and social media sites, especially YouTube, are populated by less than savory characters who are much more interested in receiving introductory commissions than providing genuine educational content.

Such people not only cultivate stupidity amongst retail traders, which in turn spurs a short-term, burn and churn business model for brokers, but they also perpetuate the image of the cryptocurrency market as being a haven for scammers, hucksters, and con-men.

Thus, some more official educational materials and certificates would be a boon – not just for traders that want to learn more but for cryptocurrency companies that want to bolster the image of the industry.

"Anything worth having is worth going for - all the way." - J.R. Ewing



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