{"id":1990498,"date":"2023-03-03T12:29:33","date_gmt":"2023-03-03T17:29:33","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/plato-data\/how-much-do-we-invest-in-crypto\/"},"modified":"2023-03-03T12:29:33","modified_gmt":"2023-03-03T17:29:33","slug":"how-much-do-we-invest-in-crypto","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/how-much-do-we-invest-in-crypto\/","title":{"rendered":"How Much Do We Invest in Crypto?"},"content":{"rendered":"

\"man<\/p>\n

Summary: I talk about the mental game of investing, particularly as it applies to crypto markets. Subscribe here<\/a> and follow me<\/a> to get weekly updates.<\/em><\/p>\n

At Bitcoin Market Journal<\/em>, we\u2019ve got a lot of content.<\/p>\n

Almost 10,000 pages and videos.<\/p>\n

One of our great challenges is introducing people to the site: where do they start?<\/p>\n

Regular readers may remember that we created a Start Here survey<\/a> last year, which had the added benefit of collecting (anonymous) data on what our crypto community looks like.<\/p>\n

Today I\u2019ll give you updated stats on what we\u2019ve learned about our readership, including how much they\u2019ve invested (spoiler alert: on average, about $75,000).<\/p>\n

What Our Crypto Investors Look Like<\/h2>\n

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Most of our community already owns crypto<\/em>, which is a useful takeaway: we don\u2019t need to explain basic content like \u201cWhat is bitcoin?\u201d as much as we need to explain \u201cHow do I invest in LDO to maximize my ETH staking yield?\u201d<\/p>\n

Armed with this knowledge, we\u2019ve been focusing more of our content on advanced investing and yield-farming strategies, and less on basic explainers.<\/p>\n

\"do<\/p>\n

We\u2019re split roughly 50\/50 on those who are earning extra yield on top of their crypto. This is an area of opportunity for the other half, since smart yield strategies can be a good way to earn \u201cinterest\u201d on your existing investment.<\/p>\n

\"do<\/p>\n

A little more than half are using DeFi, which is another area of opportunity for those who aren\u2019t. Trying out these DeFi products is the best way to see the investment opportunities in the next generation of the Web (a.k.a. Web3).<\/p>\n

\"do<\/p>\n

A whopping 2\/3 of our community reporting investing in NFTs (though this is down from the 3\/4 that owned NFTs in our last survey recap). This is another area of education, since we\u2019re long-term optimistic about NFT technology<\/em>, but pessimistic about most of the NFTs currently on the market<\/em>.<\/p>\n

\"do<\/p>\n

We still have about half of our community actively trading, though it is hard to consistently make money this way (especially after taxes and fees). To educate people about the dangers of trading, we\u2019ve still got a lot of work to do.<\/p>\n

\"crypto<\/p>\n

Finally, our average community member reports $750,000<\/strong> in crypto holdings; see the chart above for the breakdown.<\/p>\n

\"top<\/p>\n

Here are the top 15 tokens held by our community of crypto investors.<\/p>\n

(Re)Start Here<\/h2>\n

Every month, thousands of crypto investors find our site for the first time.<\/p>\n

As you can see, some are discovering bitcoin for the first time. Some are degens. Some are building their own crypto mining rigs.<\/p>\n

They\u2019re all over the map.<\/p>\n

Steven Pressfield, author of The War of Art<\/em><\/a>, has a similar problem. Although his audience is different (writers and artists), he has a lot of content \u2014 books, blogs, videos \u2013 that he has organized in a clever way.<\/p>\n

His Start Here<\/a> page is magic. (Try it.)<\/p>\n

Inspired by this page \u2014 and what we\u2019ve learned from our original Start Here survey \u2013 this is how we\u2019re reworking our Start Here page.<\/p>\n

What Kind of Crypto Investor Are You?<\/h2>\n

I\u2019m just starting out.<\/em><\/strong><\/p>\n

 I own a few tokens, but I\u2019m looking for new ideas.<\/strong><\/em><\/p>\n

I\u2019m actively earning yield, and looking for better rates.<\/em><\/strong><\/p>\n

I\u2019m using DeFi products, and looking for new opportunities.<\/em><\/strong><\/p>\n

I\u2019m an active trader (more than once a month).<\/strong><\/em><\/p>\n

I own NFTs, and am looking for new investments.<\/strong><\/em><\/p>\n

I\u2019m looking to mine crypto myself.<\/strong><\/em><\/p>\n

Investor Takeaway<\/h2>\n

Being a serious crypto investor is hard work.<\/p>\n

While most people rely on \u201chot crypto tips\u201d from YouTube or Crypto Twitter, we encourage the opposite approach.<\/p>\n