RE: When did this happen?
You are viewing a single comment's thread:
Regarding 1 in 3 Australians dabbling in crypto, it helps to recall that not everybody has an investment mindset. I have an anecdote to help me illustrate.
One of my co-workers does have an interest in finance in investing. However, he is learning about it in his 40s whereas I have been interested since I was in my teens. I've coached him through buying stocks. Eventually, he also dipped his toes into crypto. The thing is, like him, many people start off with $20 or maybe $100. At that level a 5% loss is not a big deal. On the other hand, a 5% gain is not a big deal either. Even a 20% change is not that significant.
It has taken him the better part of a year to realize that the numbers get exciting when you have larger bags. Gaining or losing 5% of $1000 or $5000 has different emotions than a $20 investment.
So, yes. Perhaps 1 in 3 Australians have dabbled. But, that doesn't mean that it was significant amounts. Many people start feeling anxiety if they have more than $100 "in the game". They feel much safer having money in the bank. Us LEOs know better. Yet, our mental template doesn't work with dabblers.
It's pathological with me, lately. I keep looking around for places to cut the budget to buy more crypto. This isn't how most people operate.
Posted Using LeoFinance Beta
The small amount piques the interest and curiosity, so the larger investments can be made.
I think it is much, much lower. In Finland, I work in a company where pretty much everyone has some level of stock exposure and in the IT field. There is probably less than 1 in 5 in crypto.
It is a funny old change in mindset. Hope it is catching.
I do recognize that people start out with small amounts just to figure out how things work. However, I think many people don't go past that. Fortunately, my co-worker has started increasing his deposits.
Cheers
Posted Using LeoFinance Beta