{"id":18331,"date":"2023-05-01T03:27:15","date_gmt":"2023-05-01T03:27:15","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/friends-and-fomo-pushed-newbie-investors-to-buy-crypto-in-2022-survey\/"},"modified":"2023-05-01T03:27:17","modified_gmt":"2023-05-01T03:27:17","slug":"friends-and-fomo-pushed-newbie-investors-to-buy-crypto-in-2022-survey","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/friends-and-fomo-pushed-newbie-investors-to-buy-crypto-in-2022-survey\/","title":{"rendered":"Friends and FOMO pushed newbie investors to buy crypto in 2022 \u2014 Survey"},"content":{"rendered":"
Influence from friends and the fear of missing out (FOMO) were some of the reasons investors bought crypto for the first time in 2022, according to a survey by a United States financial regulator. <\/p>\n
Published by the United States Financial Industry Regulatory Authority (FINRA) Investor Education Foundation in late April, the survey found that a large portion (31%) of new cryptocurrency investors cited “friend suggestion” as the primary reason for their foray into crypto.\u00a0<\/p>\n
This is compared to only 8% for first-time equities or bond investors, potentially indicating that there is “a social element to cryptocurrency investing not evident in equities or bond investing,” according to FINRA.<\/p>\n
However, the ability to \u201cstart with small amounts\u201d was the second biggest reason for making a move into the crypto market at 24%, similar to equities and bond investors.\u00a0<\/p>\n