“40 percent of investors forget their password” – and other horrors
A new study by the crypto magazine Cryptovantage brings astonishing results to light. Almost as many forget their password for their own wallet as fall victim to crypto fraudsters.
who this study reads, loses faith that investors in the crypto sector are well-informed, well-considered people with a certain affinity for technology, who are aware of the responsibility of what it means to be your own bank.
Contents
Crypto survey astonishes in many areas
The creators of the crypto resource Cryptovantage, which offers a wide range of magazines as well as a number of educational offers for Otto crypto normal users, carried out an extensive survey of a little more than 1,000 US citizens who are invested in crypto currencies. The database provided the Amazon survey platform.
The survey dealt with the most important topics that crypto investors encounter in everyday life, such as what their password strategy looks like, which wallets they use or which mistakes they have already learned from. Some of the results are extremely astonishing.
Forgot Password? No wonder with these strategies
Around 40 percent of those surveyed stated that they had already forgotten their password for their crypto wallet. Although around 96 percent of those who forgot managed to restore access afterwards, the remaining four percent lost an average of around 2,100 US dollars.
Almost even more astonishing: 12 percent of investors said they thought their password was insecure, but still did not want to change it. Ten percent of all investors keep their password only in their memory, 20 percent have written it down on a piece of paper and six percent even gave it to friends and family – a strange form of cloud storage. Only one in four respondents uses a password manager to store their crypto access reasonably securely.
At this point, it is not surprising that around 33 percent of those surveyed had been victims of crypto fraud at least once. At the same time, the most successful were the very simple methods that have been warned against for decades, namely the phishing email, the fake website and – quite new – the fake app. The fake website comes out on top in this ranking with an average fraud damage of around $ 900. On average, investors who fell victim to crypto scams lost a manageable but annoying $ 500.
Can it get any worse? Yes it can. Almost 40 percent of those surveyed have also reacted at least once to the slump in their investments by panic selling and taking heavy losses instead of holding the coins. Around a third stated that they had essentially bet on a single cryptocurrency and just over a quarter admitted that they did not really understand the crypto market. Every fourth person has already sent coins once without waiting for the agreed payment. What have you guys done wrong?
