Category: Infographics

Graphics and images visualizing the results of a crypto outlook survey, including investor sentiment

BitcoinIRA Survey Finds Investors Bullish on Crypto

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New crypto outlook survey captures American excitement for cryptocurrency despite challenges

LOS ANGELES, April 27, 2023– BitcoinIRA, the world’s first and most trusted* digital asset IRA technology platform, today released results of their new survey polling participants on their investing preferences and market outlook on cryptocurrency.

In sum, the survey found that investor sentiment remains bullish on digital assets despite volatile market action and events. Crypto investors largely speculate prices will rise, and continue to bank on crypto to hedge against inflation and increasing social security concerns. More than half see crypto as a legitimate and trailblazing asset class, and more than half agree that crypto regulation makes digital investments more attractive.

Key takeaways on crypto sentiment include:

  • Excitement Factor: 72% of respondents would suggest their family or friends buy cryptocurrency. 32% report they look forward to traditional financial institutions adopting digital assets in the future and 30% are excited about crypto IRAs.
  • Digital Asset Outlook: 51% of those surveyed think crypto is a legitimate and trailblazing asset class and 56% agree that Bitcoin is a hedge against inflation.
  • Bullish on Regulation: 54% of respondents agree that crypto regulation makes digital investments more attractive.
  • Saving for Retirement: 51% of survey respondents are considering investing in cryptocurrency as part of their retirement portfolio, while 27% have already invested.

Key takeaways on reasons to invest and crypto price projections include:

  • Motivation for Crypto Investing: Respondents are interested in crypto because they speculate prices will go up (59%), they want to diversify their portfolios (43%), catch up on retirement (36%), and avoid inflation (23%), among other reasons. 25% are concerned social security may run out, a 59% increase over BitcoinIRA’s May 2022 survey.
  • Bitcoin’s Price Prediction: 48% of the respondents believe Bitcoin’s price will be $25,000 – $49,000 at its high in 2023, and 21% believe it will be $50,000 – $75,000 (the all-time high). Reflecting the crypto markets, price projections have lowered since the company’s last survey.
  • Bitcoin Remains King: 69% of respondents select Bitcoin as their top crypto choice. Ethereum was the #1 most requested altcoin for crypto investing (18%). Alternative coins exclude Bitcoin.

“Although the crypto community has been tested by recent events, investors have a renewed enthusiasm for digital assets,” said Chris Kline, Co-founder and Chief Revenue Officer of BitcoinIRA. “Americans believe that strengthening crypto regulations will benefit us. Crypto investors continue to see digital assets as a key instrument in retirement portfolio diversification, as well as a hedge against inflation and mounting concerns about social security. BitcoinIRA is excited to be a part of the solution for Americans seeking alternative assets for their savings.”

Methodology

The crypto outlook survey was sent in February 2023 to a randomized group of individuals. 445 respondents participated. Individuals did not receive compensation or likewise for their participation in the survey.

Individuals interested in adding cryptocurrencies to their IRA or 401(k) can visit www.bitcoinira.com or call 866-333-4307.

About BitcoinIRA

BitcoinIRA, available at bitcoinira.com, is the world’s first and most trusted* digital asset IRA technology platform that allows users to purchase cryptocurrencies for their self-directed retirement accounts.

Users can set up a qualified digital asset IRA, transfer funds from an existing IRA custodian, execute self-trades in real-time 24/7 through a US-based exchange, and store funds in an industry-leading multi-signature digital wallet from BitGo.* BitcoinIRA has processed billions in transactions and has over 170,000 users with more than 3,500 5-star user reviews. The platform has been featured extensively in the media, with coverage in Forbes, CNBC, CoinDesk, and The Wall Street Journal, among other leading publications.

BitcoinIRA is a financial services technology provider, and as such, is not a financial adviser, cryptocurrency exchange, custodian, wallet provider, initial coin offering (ICO), or money transmitter. BitcoinIRA is privately funded and based in Las Vegas.

Learn more about BitcoinIRA at bitcoinira.com or call 866-333-4307.

*Cryptocurrencies are very speculative and involve a high degree of risk. See risk disclosures at bitcoinira.com/disclosures.

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Hot Wallets Vs. Cold Wallets – What’s the Difference?

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Newcomers to the digital currency space frequently have questions surrounding hot wallets and cold wallets. Specifically, how do these different cryptocurrency wallets work, what type of investment is best suited for what type of wallet, and how are these digital currencies kept secure? Let’s take a closer look.

 

Hot vs Cold Wallet

 

Hot Wallets

The primary difference between a hot wallet and a cold wallet is that a hot wallet is kept online and connected to the internet, while a cold wallet is not.

Hot wallet storage is quick, convenient, and conducive to cryptocurrency transactions, but it also has disadvantages. Because hot wallets are connected to the internet, they are significantly more vulnerable to hacks. It is advised to only keep a small amount of money in a hot wallet, then, to offset the risk. While these hacks are not common, they do occur periodically.

Hot wallets can be thought of like checking accounts, while cold wallets are more like saving accounts. It makes sense to keep a small amount directly available in your checking account, while the vast majority is kept safely stored in your savings account, or cold wallet.

 

Cold Wallets

Cold wallets are kept offline and stored either on hardware or paper. Because they are offline, they are kept safe from hackers, but users still assume responsibility to ensure that their paper or hardware wallet is not damaged or stolen.

Hardware wallets are physical devices where you can store your cryptocurrency.  They come in a few different varieties but the most common one is a USB drive. Common examples of cold storage wallets include the Trezor and Ledger wallets.

Meanwhile, paper wallets are also an offline cold storage cryptocurrency option that includes printing out your public and private keys on a piece of paper which you can store and save in a secure place. This option gives you, the user, complete control, but you need to make sure you don’t lose the paper.

Because cold wallets are kept offline, they act as a barrier against hackers, making them the safer, more secure options for long-term investments. This is why, at Bitcoin IRA, we’ve partnered with leading cold storage provider BitGo, the leader in multi-signature security and cold storage wallets.

 

BitGo Cold Storage Wallet

Headquartered in Palo Alto, BitGo’s mission is to make digital currencies usable for business in a regulated economy. The leader in multi-signature technology, BitGo’s technology solves the most difficult security problems associated with blockchains, making them the most trusted providers in the space.

Furthermore, when you open up a BitGo account through Bitcoin IRA, three unique keys are generated. One is with digital wallet BitGo, one is with Bitcoin IRA custodian provider, and one is with backup key provider Keytern.al. The private keys are spread across multiple machines, protecting Bitcoin IRA funds against single machine compromise or single key loss, and customers do not have to worry about holding onto the keys themselves.

 

Protecting Your Bitcoin IRA Investment

Investments in retirement funds are inherently long-term endeavors, which is why they are well-suited for cold wallet storage, where users don’t require access to their coins for months or years at a time. Working with full-service retirement technology company Bitcoin IRA to set up your BitGo account, ensures you will have all of the resources you need to store your retirement funds securely and with peace of mind.

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Image shows a crypto currency consumer survey discussed in press release

Crypto Investors More Bullish Than Ever; Putting Over 50% Of Their Savings into Cryptocurrencies

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Overall, as the COVID-19 pandemic continues, investors appear to have a more heightened awareness about inflation and its negative impact on US dollars as more investors indicated it as an investment reason from previous surveys. Also, crypto prices have risen sharply in 2020, with Bitcoin far surpassing all-time highs, and the majority of respondents believe they’ll continue much higher into 2021.

Key takeaways from the survey:

  • Bitcoin’s price projection: 40% of responders believe Bitcoin’s price will be at least $50,000 at the end of 2021. Bitcoin’s price passed all-time highs in 2020 and investor sentiment remains high likely due to large Bitcoin investments by major companies such as PayPal and MicroStrategy among many others.
  • Reasons to invest: There’s a significant rise in inflation concerns by respondents as 28% of them stated their primary reason for buying crypto was due to inflation concerns. This is nearly twice as many that stated that reason in the company’s previous annual survey in 2019 (17% selected “inflation” then). Other reasons for buying crypto included that they believed prices would go up (65%) and that they simply wanted to diversify (29%).
  • Amount invested: A quarter of respondents stated they have invested 50% or more of their total cash or savings into crypto.
  • Altcoins: Chainlink remains the #1 most requested alternative coin, “altcoin,” for investing (excluding Ethereum) with 22% of respondents selecting it. Other top requested coins included Stellar Lumens (XLM), Polkadot (DOT), and Cardano (ADA).
  • Top features: Earning interest remains very desirable for crypto holders as 26% of all respondents requested it. An additional 15% of users wanted to earn rewards through “staking,” which is another method of earning a return on crypto holdings.

Methodology

The 2021 consumer survey was sent on December 28, 2020, to a randomized group of individuals comprised of the company’s clients, account holders, and customer prospects since 2016. 284 respondents completed the survey. Individuals did not receive compensation or likewise for their participation in the survey.

Individuals interested in adding Bitcoin, Ethereum, or gold to their IRA or 401(k) can go to bitcoinira.com or call 877-936-7175.

maryann-bullion-bitcoin-ira-featured-image

[Infographic] Top 5 Cryptocurrency Scams

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Until recently, the crypto world was relatively unregulated. Unfortunately, this drew an increase of bad actors to the sector. For novice consumers, it could be difficult to know who to trust. Fortunately, the industry has grown increasingly regulated in recent months, but there is still work to be done. Protect yourself and be on guard for these top 5 scams.

[Infographic] There’s Imitators, and Then There’s BitcoinIRA.com

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If you’re looking to diversify your retirement portfolio with cryptocurrency, we are here to help! We created an infographic that demonstrates why we surpass the competition in every aspect of the business.

bitcoin-ira-difference-infographic

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cryptocurrency-guide-infographic

[Infographic] Cryptocurrency Guide Brought to You by BitcoinIRA.com

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UPDATE June 11, 2019: Image updated with the latest coin stats and our newest tokens.

 

If you’re looking to invest in cryptocurrency for your IRA or 401(K) with BitcoinIRA.com, you probably want to know more of the specifics about each digital currency we support. That’s why we created this comprehensive cryptocurrency guide, which breaks down the definitions, key characteristics, and price projections for Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and Ethereum Classic.

 

It’s an exciting time to plan for retirement. Thought leaders in the crypto space are predicting price increases for each of these six currencies by the end of year. To get started with purchasing digital currencies in your IRA or 401(k), contact BitcoinIRA.com at (877) 936-7175.

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[Infographic] Bitcoin’s Volatile Path to Greatness

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Bitcoin is already shrugging off the price dip caused by China’s ban on all exchanges and ICO’s. It did not take long for Bitcoin’s price to rebound; the end of the month saw the digital currency reach $4,000 once again. Despite all detractors crying “bubble” and “fraud” Bitcoin continues to grow in price and global adoption. To early adopters and veteran investors, the pattern of dip and recovery is a familiar one and hardly warrants the sensational headlines. They know that Bitcoin is on a path to greatness and the volatile price is merely part of the journey.

“Nobody can stop [Bitcoin] because nobody can control it. The idea that the government can put curbs on this is actually pretty specious.” – Venture capitalist and Facebook millionaire Chamath Palihapitiya

In fact, Bitcoin not only recovers from price dips, but it does so at an incredible rate. Since the September 22 price drop, the price rebounded up to $3,500 and then up to $4,430 in the span of two weeks. The market cap of bitcoin has increased from $59 billion to $73 billion, as its daily trading volume surpassed the $1.2 billion mark once again.  Every sell off of Bitcoin has created an even greater recovery.

Take a look at our latest graphic illustrating how Bitcoin recovers from every fear-based sell-off and continues to grow.

Every price dip is a chance to invest and maximize gains. Ready to get started?

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[Infographic] Bitcoin and Cryptocurrency in Perspective

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UPDATE June 11, 2019: Image updated with June 2017 data.

 

Since its inception, Bitcoin has had the potential to “upset the apple cart” of traditional fiat currency. It has steadily grown in value and adaptation across the world. The first purchase made on a commercial product by a consumer took 10,000 Bitcoins. Today, Bitcoin is worth over $4,000 and its value is predicted to only keep growing. By design, Bitcoin climbs in value as more people hop on the bandwagon. It’s cap of 21 million Bitcoins ensures that it will never be subject to inflation.

Bitcoin’s creation lit a fire in the investment world. Naturally, it’s success and potential brought out a litany of entrepreneurs creating alternative coins (altcoins) which tried to replicate and improve upon the technology of cryptocurrency. There are now over 700 altcoins on the market, but only a few have been able to match the potential of Bitcoin and Bitcoin’s value.

Bitcoin remains the giant in the industry, but there’s room for growth for all cryptocurrency. As this infographic shows, Bitcoin is currently valued at over $66 billion and the total valuation of all cryptocurrency has reached $142 billion.

This infographic puts Bitcoin and cryptocurrency in perspective against all money, stock markets, and even individual billionaires like Bill Gates. It’s apparent that the marketshare of cryptocurrencies has incredible room to grow.

 

Imagine its value once Bitcoin surpasses gold and begins to match the valuation of the stock market. Peter Smith, CEO of Blockchain, and Jeremy Liew, renowned venture capitalist, have projected Bitcoin will reach $500,000 in value by 2030. One thing is for certain, crytpocurrencies are here to stay and we’ve only just begun to see their potential.

Take a look at our Bitcoin calculator to see Bitcoin’s past performance and how a small investment now could mean a large return in the future.

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[Infographic] Bitcoin to $500,000? Here’s how it’s possible.

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Is Bitcoin’s price headed to $500,000? Peter Smith, CEO of Blockchain, and Jeremy Liew, renowned venture capitalist, have projected that the cryptocurrency will reach that milestone by 2030.

Bitcoin’s value has been on the rise since its introduction in 2008, just recently reaching an all-time high of over $4,000. In 2017 alone, the price of Bitcoin has more than tripled, making it one of the fastest growing investments of the year.

Take a look at the infographic below where we map out Bitcoin’s potential path to $500,000. Whether it reaches that mark (or goes even higher), one thing experts agree on is that Bitcoin is on a rocketing path of growth that is unlike any other investment asset.

And if you’re ready to invest in Bitcoin and cryptocurrency with your retirement portfolio, we’re here to help you get started.

 

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Let us help you get started with BitcoinIRA, click to get started.