01 December 2021 12:50, UTC
Reading time: ~ 2 m
According to information published by the financial derivatives trading platform CloseCross, four out of five crypto traders seriously involved in the cryptocurrency market make money from this industry.
On behalf of CloseCross, the independent research firm PureProfile surveyed 100 crypto investors who transact at least $ 5,000 per month from the UK, USA, Canada, France, Germany and India. A study conducted among crypto traders in six major countries found that 83% of them make money from their trading, with 28% of them saying that they have significantly increased their capital by investing in the cryptocurrency industry.
The CloseCross study, which is regulated by MIFID II in the US, UK, France, Germany, India and Canada, found average profits in excess of $ 25,000, but 13% claim to have traded over $ 50,000 in digital assets.
On average, surveyed crypto traders bet $ 7,570 per month in the markets and estimate that they traded around $ 69,650 worth of cryptocurrencies last year.
Not every crypto trader makes money
Research has shown that not all traders make money. About 17% said they got out of their cryptocurrency trades without making anything or lost money, and 3% admit losses ranging from $ 5,000 to $ 50,000.
CloseCross CEO Vaibhav Kadikar said:
“However, volatility is a serious problem and people could potentially lose all of their money, as evidenced by the numbers that eventually broke even or lost money with some reported losses of up to $ 50,000.”
With many pundits predicting the start of the second phase of the bull run, and the continued popularity of meme coins, are attracting new retail investors to the crypto space with the promise of getting rich quick by investing in a coin recommended by popular personalities, there is potential for more – significant gains to be made over the course of the next few months, but, of course, there is always the possibility of getting even bigger losses.
Posted by Newt Salamander, Analyst at Freedman Club Crypto News
#experienced #crypto #traders #money #market