Circle Survey Finds Twice As Many Men Invest in Cryptocurrencies As Women

One in four Millennials are interested in investing in cryptocurrencies over the next year, a new poll finds.

Crypto payments startup Circle conducted a survey of more than 3,000 individuals earlier this week, finding that a majority of Millennials believe themselves to be “aggressive” investors in the technology. Members of other demographics, including Generation X and Baby Boomers, were also polled.

The Goldman Sachs-backed payment platform used Survey Monkey to collect its results, though it only published responses from users who identified as “aggressive investors.”
Notably, the results found that nearly twice as many men invest in cryptocurrencies when compared to women. Forty-two percent of male Millennials, 34 percent of men identifying in Generation X and 16 percent of male Baby Boomers have looked into asset classes like cryptocurrencies, versus 27 percent of Millennial women, 19 percent of Generation X women and 9 percent of female Baby Boomers.

Separately, and perhaps unsurprisingly, the survey found that as investors get older, the percentage of “aggressive” investors drops, from 65 percent of Millennials to only 25 percent of Baby Boomers.

The insight that women are a minority in the crypto space is not novel. The social trading platform, eToro, surveyed its users this past May, with its report revealing that only 8.5 percent of all users were women. As of March, the company had over 9 million users.


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Author: Aditi Hudli
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Litecoin Owners Just Got New Wallet on Telegram!

In a tweet on Thursday, Charlie Lee, the creator of Litecoin, the 7th largest cryptocurrency by market capitalization, spread the word about a new service that lets users make litecoin transactions to each other via the popular messaging app Telegram.

LIONBIT

Lee pointed out that “a bear market is the best time for people to work on adoption,” and praised the team at the startup Zulu Republic for their work.

Based in Zug, Switzerland – known as Europe’s “Crypto Valley” – Zulu Republic wrote in a blog post that they built the new Telegram-based Litecoin wallet to help realize the “founding ideals of the cryptocurrency revolution.”

The service, dubbed Lite.im, is built as a Telegram bot that users can send commands to, for example to see their balance, reveal their address to receive a payment, or sending litecoin to a litecoin address or an email address.

TIP

Originally designed to be “the silver to bitcoin’s gold” Charlie Lee’s vision for litecoin has always been to turn it into people’s preferred cryptocurrency for everyday payments with smaller transactions. As one of the earliest cryptocurrencies to be created, litecoin has also benefited from strong brand recognition and an active community for several years.

Earlier this month, Mati Greenspan, senior market analyst at the social trading platform eToro, wrote in a report that litecoin could be trading at a “massive discount to what it should be worth,” given the various initiatives on real-world adoption of the cryptocurrency.


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Author: Fredrik Vold
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Addiction and Millennials Meet in Crypto-Trading

  • Crypto-trading can be psychologically hazardous.
  • Every generation has had their emerging asset class of choice, for millennials it’s digital assets.

    LIONBIT

    Crypto-trading already has a mixed reputation. Thanks largely to the volatility of cryptocurrency markets, it’s attracted more than its fair share of unflattering attention, with economists likening the bitcoin boom to a classic bubble.

    However, the ‘wild’ fluctuations of bitcoin et al. have repercussions and consequences that go beyond their unpredictability and riskiness, and that have more of a psychological and socioeconomic aspect than a strictly financial one. A growing body of evidence is indicating that, in rising up and falling down so frequently, they tend to make crypto-trading noticeably more addictive and dysfunctional than other forms of trading.

    And yet, in the face of such increased instability, crypto communities have developed a number of coping strategies that tend to make the buying and selling of digital currencies noticeably less toxic.

    The most vivid illustration of crypto-trading’s addictive and harmful nature came with an announcement that it would have an addiction treatment centre opened in its honor in Castle Craig Hospital, Scotland.

    What’s interesting about this announcement is that the therapists at Castle Craig have recognised that much of the addictive quality of crypto-trading stems from the quasi-randomness of crypto markets. Chris Burn – a therapist at the hospital – explained in a blog post, “the high risk, fluctuating cryptocurrency market appeals to the problem gambler. It provides excitement and an escape from reality.”

    In other words, crypto-trading can be psychologically hazardous because of the way the cryptocurrency market behaves and is structured, with articles published by self-help blogs recognizing this at least as early as January.

    Given this danger, it’s disconcerting to note that supposedly 8% of the American adult population, for instance, own some kind of cryptocurrency. The survey in which this figure was produced – published by consumer website Finder.com – also discovered that certain demographics are more inclined to trade than others, and this is precisely where the crypto-addiction story becomes more sociologically interesting.

    For instance, the survey finds that cryptocurrencies are more likely to be traded by millennials than by any other generation, with 17.21% of this generation owning some form of crypto, compared to only 8.75% for Generation Xers and 2.24% for baby boomers. This finding is backed up by results from other recent surveys, in America once again and beyond (e.g. South Korea).

    Speaking to Cryptonews.com about this trend, eToro, a social trading platform, analyst Mati Greenspan explains that cryptocurrencies are very much a generational phenomenon.
    “Every generation has had their emerging asset class of choice,” he says. “The Boomers were attracted to gold, Gen X traded in stocks, and for millennials, it seems very likely that this generation will lean towards digital assets, including bitcoin and cryptocurrencies.”

    Yet the deeper significance of the association between millennials and cryptocurrencies – and its effect on market volatility and addictiveness – is brought out by eToro itself in another survey. It discovered that holders of crypto are much more likely to be “novice” rather than “intermediate” or “advanced” traders (over 75% were described as such). What’s more, traders are more likely to be either students or unemployed than to belong to a particular employment category.

    Put differently, the post-recession financial climate has driven certain vulnerable demographics towards cryptocurrency trading. Given their inexperience and precarious finances they’ve traded in a way that has arguably helped to make crypto more volatile and also more addictive, as suggested by a Warwick Business School study that found bitcoin value fluctuations to be driven more by emotion and mood than anything else.

    This is all paints a discouraging picture for many would-be traders. However, hardened crypto investors have evolved a number of modest tactics for avoiding much of the panic, irrationality and volatility of trading.
    “As with any market, the strategies that prevail are usually more long-term ones,” Greenspan explains. “This is precisely why the crypto community has coined the term HODL, which refers to keeping your cool and holding on to your coins, even in the face of volatility.”

    HODL also teams up with the concept of FUD (fear, uncertainty and doubt) as a means of discouraging not only panic, but of an approach to crypto-trading that regards it as a get-rich-quick scheme. As the recent movements of the market have shown, it’s clearly not such a scheme for 99% of its participants, and the sooner we all realise this the better, for our mental health as much as for our pockets.



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    Author: Simon Chandler
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eToro Adds EOS as Demand for Altcoins Surges!

Responding to consumer demand for altcoin investment opportunities and trading eToro has added EOS to its platform as of April 23rd, 2018.

eToro is a next generation global trading and investment platform with nine million users. It boasts the ability for users to manually invest in over 1,500 instruments, copy the trades of more experienced traders, and use its CopyFunds feature to access unique investment portfolios.

Users of eToro can now access ten cryptocurrencies, including other 2018 additions to the platform NEO and Stellar. Bitcoin, Ethereum, BCH, XRP, Litecoin, Ethereum Classic and Dash are also available on the eToro platform.


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The platform has noticed increased demand for altcoin trading and investments and is actively working to offer increased diversification to its users. Yoni Assia, Co-founder and CEO at eToro notes:
“Already in 2018 we’ve seen attention shift away from mainstream cryptocurrencies and their market share is increasing all the time. In our view, this trend is only set to continue.”
EOS will also soon be added to eToro’s Crypto CopyFund, which uses CFDs to enable investors to diversify across all available cryptocurrencies (weighted by market cap) with just one click.
“We are constantly seeking to identify and assess new concepts as they emerge and we are committed to bringing the best crypto assets onto our platform for our users to invest in. We’re excited to have brought EOS onto the platform already this year and we look forward to seeing how the market develops in 2018 following a very successful 2017 for the crypto community.”

EOS (EOS) is currently 5th in the charts by market capitalization having once again displaced Litecoin for the 5th position and risen in price by a net 40% in the last week. EOS is currently an Ethereum-based, or ERC20 token, but will move to its own MainNet chain in the coming months.

Bitfinex and Binance have both announced support for the EOS MainNet swap to aid the move for EOS owners on these platforms.
Behind the EOS token, EOS is a successful blockchain-based decentralized system that enables the development, hosting, and execution of commercial-scale decentralized applications (dApps) on its platform.


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Author: Melanie Kramer
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EOS: Seen Headed to $30, Moves Above Litecoin!

EOS has once again displaced Litecoin (LTC) from position 6 on CoinMarketCap, as it moved above $11. Altcoins, as well as Bitcoin, have grown steadily over the weekend. EOS added around 2.6% to $11.60, and is up a net 40% in the past week. But speculative interest may push the asset above $30, at least when it comes to predictions and expectations.

The EOS volumes have returned, and the asset has revisited its peak against BTC last seen toward the end of last year. This time, altcoins are not only gaining in dollar terms, but taking more ground from the leading coin.


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The driver of EOS prices is, at the moment, the general recovery of altcoins and the search for new and promising assets. The other upside are the expectations for the launch of the main net, where the EOS token would serve a purpose to secure block production.

Bitfinex is pleased to announce full support for the upcoming EOS MainNet Token Swap. 
More exchanges are supporting the token registration, with Bitfinex, the largest market, participating in the program. This means that EOS would not need to be moved off exchanges for registration. Currently, EOS is, for about two more months, an Ethereum-based token.

There are less than 60 auctions left for EOS, and in the past day, the auction price has grown. Two auctions saw a price above $11, as the auction usually moves in unison with the market price.

Because of the prominence of EOS, the asset was added for eToro trading recently. But while some claim eToro holds EOS tokens on behalf of the traders, the activity won’t affect the open markets that much. The eToro service does not provide actual exchanges to crypto, but there have been talks the service may soon release an option for individual crypto wallets for the handful of assets traded.

Additionally, the most active EOS trading still happens on exchanges that are well-supplied with Tethers (USDT). Tethers are adding artificial liquidity, allowing users to switch to EOS and trade, without actual funds moving into the market. EOS is seeing the largest volumes on Huobi,OKEx and Bitfinex.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Christine Masters
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