Insights Network Research — First Cryptocurrency Owned Survey

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3 min read
Insights Network Research — First Cryptocurrency Owned Survey

Interested in creating your own blockchain-based surveys? Get started with our Requester Dashboard in minutes.

Insights Network is once again delighted to present another record-breaking set of survey results. While our previous Research Report was the most successful yet in terms of total unique responses, this latest survey far exceeded our record for the number of participants. An amazing 9,644 individuals took part in the survey- an astonishing 97% increase over the previous record.

The latest survey asked participants three simple questions concerning their very first cryptocurrency ever owned.

With the crypto and blockchain industries evolving massively over the preceding two or three years, Insights Network believed it would be the perfect opportunity to acquire further information about the participant’s very first crypto experience.

Key Metrics and Demographics

A new record of 9,644 verified participants from 129 countries, totaling 28,932 unique responses took part in the survey. While the number of unique responses fell just shy of setting a new benchmark, we were overall extremely pleased with the community response to the survey. With two surveys producing excellent results in close proximity, it is clear our community is ever-growing and positively responding to the team’s efforts.

  • Total number of participants: 9,644
  • Total number of questions asked: 3
  • Total number of unique answers: 28,932
  • Total number of countries participated: 129

Questions Surveyed

Cryptocurrencies and blockchain remain very nascent industries on the broader picture. Competing against the status quo of established institutions and popular platforms was always going to be a challenging task. However, despite the titanic road ahead of both, the crypto and blockchain communities have shown great resilience and desire to see the industries succeed. The graph below shows the exponential rise in Bitcoin wallet holders since 2012.

Source: Blockhain.info

In light of this, Insights Network was eager to know how exactly many individuals first got into cryptocurrencies and what their first coin/token was.

Key Insights

In a surprising but hugely encouraging result for INSTAR, our native token was joint with Bitcoin in regards to the very first cryptocurrency purchased by the participants. 32% said INSTAR was their first crypto, while 32.8% said it was Bitcoin. Ethereum received 7.7% of the vote, while EOS had 2.1%. 8.8% were not sure.

The question of how long the individuals surveyed have been an owner of a cryptocurrency received a very mixed response. 22% said less than months, 9.8% chose 6–12 months, and 13.6% have held crypto for a while, 2+ years. 16% first became involved in crypto in the past 1–2 years.

Key Insights

With several methods in which individuals can now receive cryptocurrencies, the answers to how the participants first received their cryptocurrency also received a wide-ranging result.

The majority, 34.5%, said they earned it. 17.7% bought it, and 13.3% received it for free as part of an airdrop or promotion. 11.7% were not sure.

With once again an excellent set of survey results to compliment Insights Network’s evolving and growing ecosystem, further consolidation of progress is sure to be expected.

We’re excited to share more research results, and upcoming product releases with our community as well as a growing audience of early cryptocurrency adopters across the globe. Thanks for reading and your constant support of our journey!

Onwards and more insights,

Team INSTAR

Interested in creating your own blockchain-based surveys? Get started with our Requester Dashboard in minutes.

Looking to earn cryptocurrency for sharing your opinion?

Start your cryptocurrency journey on www.instarwallet.com or join the discussion on telegram!

For further information on the Insights Network, use the following links:

Website | Twitter | Telegram | Medium | Reddit |Earn Tokens

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