Most people in the United States are actively looking for ways to make some passive income. Investments provide great opportunities in that regard, although there are also plenty of risks attached. A recent study by Bankrate confirms long-term cryptocurrency investments are not popular at this time, which is somewhat surprising.
The Typical Investments Reign Supreme
While the report is rather interesting in many different ways, one has to keep in mind all studies and surveys need to be put in their right perspective. The people partaking in such a short questionnaire only represent a minority of the target group’s opinions and preferences. As such, these results should be taken with a grain of salt.
Based on the findings, it seems real estate, stocks, and cash investments are the most popular in the US right now. While many other investments exist, these traditional offerings always tend to perform quite well. There will always be a demand for real estate, and stock companies will not disappear overnight either. Cash investments, which span savings accounts and other products, are popular with 19% of respondents looking to lock up money for 10 years or longer. This confirms there is still a lot of trust between consumers and financial service providers in 2019.
Gold and Precious Metals Trump Bonds
Given the relative price stability of bullion and other precious metals, they tend to make for a solid investment. Most consumers are well aware their US Dollars will become worth less every single year, primarily because their purchasing power will decline in the process. As such, locking up some money in these metals is still popular among respondents, as 11% confirmed they see this as the best option. A very interesting take on long-term investments.
Surprisingly, it appears this option is more popular compared to owning bonds. Although bonds are backed by the US Treasury and long-term investments by default, they have seemingly lost some of their appeal in recent years. Even so, 7% of respondents claim bonds are their preferred investment, thus it seems likely to assume there will always be a demand for this type of investment vehicle.
Bitcoin and Altcoins Bite the Dust
When people properly analyze the price chart of Bitcoin and top altcoins, it quickly becomes apparent the volatility can create significant profits, but equally steep losses. For such volatile markets, it is rather uncommon to find many long-term holders, especially among investors willing to lock up funds for 10 years or longer. Just 4% of survey respondents think cryptocurrencies are good investments in this regard, which is not all that promising.
Perhaps the most telling sign is how 5% of respondents indicated none of the options were suitable for 10 years or longer. That means more people would rather not invest at all compared to investing in cryptocurrencies. For the industry as a whole, this is a worrisome sign, as it confirms the public opinion on Bitcoin hasn’t improved all that much. One also has to keep in mind the recent crypto winter of 2018-early 2019 is barely over, albeit the current market volatility shows there may be more headaches in the near future.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.