According to a survey report, more than 30% of bitcoin investors also invested in ethereum
39.54% respondents believe that Bitcoin should be classified as security
According to a recent survey conducted by LendEDU, student loan and refinancing organization in US, some surprising results came through.
In September, LendEDU asked 1,000 Americans a series of questions about Bitcoin as both an investment opportunity and as a currency. In October, they asked 1,000 Americans a series of questions related to Ethereum, Ripple, and Initial Coin Offerings. Over the last couple months, data has shown that many Americans are excited about the cryptocurrency.
In November, LendEDU commissioned a new poll of 564 Americans who have invested in Bitcoin and survey results were pretty surprising
1. Have you invested in other cryptocurrencies besides Bitcoin?
a. 30.15% of respondents answered “Yes, Ethereum”
b. 15.60% of respondents answered “Yes, Ripple”
c. 21.28% of respondents answered “Yes, another crypto currency besides Ethereum and Ripple”
d. 48.40% of respondents answered “No, as in I have not invested in other crypto currencies.”
2. If possible, would you rather own Bitcoin through an exchange traded fund (ETF) that accurately tracked the actual price of Bitcoin?
a. 49.49% of respondents answered “Yes”
b. 16.31% of respondents answered “No”
c. 34.20% of respondents answered “Unsure”
3. Do you believe that increased regulation and oversight by U.S. government agencies would be a good or a bad thing for the price of Bitcoin?
a. 31.21% of respondents answered “A good thing for the long term”
b. 38.48% of respondents answered “A bad thing for the long term.”
c. 23.40% of respondents answered “Unsure”
d. 6.91% of respondents answered “Neither good or bad”
4. Do you have multiple Bitcoin wallets?
a. 46.63% of respondents answered “Yes”
b. 53.37% of respondents answered “No”
5. Do you believe Bitcoin should be classified as a commodity or a security?
a. 31.56% of respondents answered “Commodity”
b. 39.54% of respondents answered “Security”
c. 28.90% of respondents answered “Unsure”
6. Which of the following best describes the reason you invested in Bitcoin?
a. 21.81% of respondents answered “Bitcoin is a long term store of value, like gold or silver.”
b. 40.78% of respondents answered “I believe Bitcoin is a world changing technology.”
c. 14.01% of respondents answered “I believe that the price of Bitcoin is too low, and will only go higher.”
d. 15.25% of respondents answered “A friend, family member, or another trustworthy source convinced me to invest.”
e. 8.16% of respondents answered “I plan on using Bitcoin for transactions or purchases, and less of an investment.
7. How long do you plan to hold your Bitcoin investment?
a. 16.49% of respondents answered “Less than 1 year”
b. 39.54% of respondents answered “1 to 3 years”
c. 22.34% of respondents answered “4 to 6 years”
d. 9.93% of respondents answered “7 to 10 years”
e. 11.70% of respondents answered “Over 10 years”
8. The price of Bitcoin is currently near all-time highs. Have you sold some or all of your Bitcoin investment since investing?
a. 32.62% of respondents answered “Yes”
b. 67.38% of respondents answered “No”
At what price per Bitcoin would you be willing to sell all of your Bitcoin investment?
On average, respondents reported that they would be willing to sell all of their Bitcoin investment at $196,165.79 per Bitcoin.
Is Toronto Next to Accept Bitcoin for Property Taxes?
Toronto is the biggest city of Canada with a population of more than 6 million. It’s also one of the leading global financial centers which makes it an attractive place for investors.
Bitcoin has emerged as the leading cryptocurrency in the world and attracted a lot of attention from financial investors. There are many crypto exchanges and investors in Toronto, which makes it an important destination for crypto startups and investors.
Recently, there has been a surge in usage of Bitcoin in the Real Estate world as lot of companies around the world are now accepting Bitcoin for buying and selling of properties. In April 2019, Innisfil, A town located in Ontario, at a distance of about 1 hour drive from Toronto, announced that they will accept Bitcoin for property taxes at the municipal level. In July this year, Richmond Hill announced that they are ready to accept Bitcoin as a payment method for property taxes.
Evan Kuhn, Co-Founder of a Toronto based crypto exchange Coinberry believes that integration of Bitcoin as a payment method for property taxes in Toronto can reduce cost, not only for tax payers, but for municipalities as well. Kuhn mentioned
“It doesn’t cost homeowners to use the service, and it costs the municipalities far less in processing fees”
“A credit card company charges a 3% fee,” he said. “Our fee is .5%, so that’s a lot more beneficial for the municipalities.”
He further explained the entire process to make it simple for the users and for the authorities. “When a resident makes a payment through our exchange, the company immediately converts the Bitcoin into Canadian Dollars and pays the relevant authority, so in basic concept this entire process works like a credit card system but with lower fee for both parties”
Morning Crypto Roundup
- Crypto market entered into a consolidation phase, with market cap at around $265 billion, market is currently trading in a range
- Bitcoin stays above $10,000
- Gray scale reported in a recent report that there are 7.1 million active Bitcoin users worldwide with more than 32 million Bitcoin wallets.
- After Innisfil and Richmond Hills, is Toronto next to explore an opportunity to pay property taxes through Bitcoin?
- According to a report from CryptoCompare.com, Untrusted crypto exchanges are dominating the crypto volume with more than 2/3 share