LONDON (Bywire News) - Many people believe cryptocurrency is suited for young investors who are passionate about technology. However, some reports show that in the US more than ever people are turning to crypto in hopes of funding their retirement.
Anyone who has spent five minutes in the crypto sphere will know how volatile it is. But a poll published by large crypto exchange KuCoin suggested that 27% of Americans aged 18-60 – around 50 million people – have owned or traded crypto in the past six months.
According to a survey conducted in March, 28% of those aged 50 and above were betting on crypto to be the main source of their early retirement.
Reservations still exist. Cryptocurrency in general remains very much a niche area. A week prior to the release of the KuCoin report, the Fed conducted a survey of 11,000 adults which found that only 12% of Americans had experimented with crypto as an investment in 2021.
Although the survey did not divide participants by age, it did find...
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