A recent survey shows how Americans manage their crypto portfolios. Online casino portal GamblersPick has spoken to 1,000 US investors about the amount of crypto they own, how they fund their portfolios, and what they do without to invest.

According to the survey results, most investment decisions were made after visiting the online forum Reddit. More than a third of crypto holders say they find out there. 35%, on the other hand, admit that Elon Musk influenced their crypto-related decisions.

Crypto and Demographics

According to the survey results, Americans hold cryptocurrencies worth $ 1,707 on average, with gender and age having a significant impact on how much is invested and under what circumstances.

The survey found that 37% of crypto investors would not touch their holdings even if a necessary invoice or critical payment is pending. 51%, on the other hand, would probably make a withdrawal to pay for a leisure or luxury purchase.

To invest in cryptocurrencies, more than 11% have given up their savings for emergencies or given up on an acquisition that would have significantly improved their lives.

The results show some generational differences among investors: the baby boomers hold cryptocurrencies worth $ 1,954 on average, followed by Generation X and millennials. Generation Z owners lag behind with $ 1,201.

At the same time, on average, men hold cryptocurrencies worth $ 1,940 – $ 565 more than women.

The gender gap in investments is also reflected in the future desires regarding cryptocurrencies, as men plan to invest an average of another $ 1,988 in the coming year, $ 878 more than women.

According to the survey, respondents plan to hold their cryptocurrencies for an average of five years. 24% have recently achieved high returns. 21% say they see it as a way to hedge against inflation.

Debt collection and threshold for sale

The survey also found that certain age groups make different compromises to keep their crypto investments.

In order to preserve their existing crypto investments, the most unlikely thing for the baby boomers is to go into debt for crypto. Millennials, on the other hand, are most likely to neglect their retirement savings. And nearly one in six have already waived credit card payments to increase their crypto holdings.

According to the results, gender also plays an important role in managing crypto portfolios. Thus, 14% of women versus 9% of men were willing to skip paying bills to increase their crypto wealth.

Investing in cryptocurrencies has been cited as a possible reason for some Americans ‘ credit card debt. According to them, almost one in four respondents bought cryptocurrencies with a credit card. 21% plan to accumulate consumer debt in the future to increase their investments.

The baby boomers turn out to be the generation with the highest sales threshold: they would sell Bitcoin at a price increase of 65% – compared to the millennials, who would exit already at a price increase of 58%.

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Text credit: Cryptoslate

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