One third of wealthy investors will hold crypto by the end of 2018 | finder.com

One third of wealthy investors will hold crypto by the end of 2018

Peter Terlato 1 June 2018 NEWS

High net worth individuals are increasingly unable to ignore the enormous potential of cryptocurrencies.

Global independent financial services organization deVere Group has revealed new poll findings that suggest affluent capitalists worldwide either already have exposure to crypto or they will have by the end of the year.

deVere Crypto, the company’s app and digital exchange platform, released findings from its latest international cryptocurrency survey, which found that 35% of wealthy investors were into or would be into virtual currency holdings by the end of 2018.

More than 600 deVere clients from the U.S., the UK, Australia, the UAE, Qatar, Switzerland, Hong Kong, Spain, France, Germany and South Africa provided responses for the cryptocurrency poll.

“The survey’s findings demonstrate that high net worth individuals are increasingly unable to ignore the huge potential of cryptocurrencies. There’s now surging public awareness of the value, need and demand for digital, global currencies in a digitalized, globalized world,” deVere Group founder and CEO Nigel Green said.

“I expect that a broader awareness and understanding of the crypto sector will grow exponentially in the next year as the tech that underpins it further improves, as major corporations and financial institutions embrace it, and as regulation is further developed.

“I believe that there is no longer any doubt that cryptocurrencies in some form are the future of money. And, seemingly, this is a view increasingly shared by wealthy investors the world over.”

Additionally, deVere Crpyto just added two new coins for customers to buy, sell store and exchange. The app added Bitcoin Cash (BCH) and EOSIO (EOS) to its roster of cryptocurrencies which include, bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dash (DASH), Monero (XMR) and Stellar Lumens (XLM).

Over one fifth (21%) wealth advisers and private bankers said that their clients had boosted their exposure in cryptocurrencies in 2017, according to Knight Frank’s 2018 edition of its Wealth Report. The findings are based on responses from more than 500 advisers who represent 50,000 investors at a combined wealth of $3 trillion.

The cryptocurrency craze has caught fire in the last few months. Thousands of people sign up daily to buy, hold and trade virtual currencies. Blockchain networks and exchanges that run them are bursting at the digital seams. However, many traders are inexperienced and uninformed, which can lead to errors in judgement.

Discover the 15 most common cryptocurrency trading mistakes carried out by inexperienced enthusiasts.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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