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71% of YIELDers say friends and family don’t “get” crypto
Cryptocurrency users - and YIELDers in particular - are some of the most dedicated around, typically devoting hours every day to researching, trading, and extolling the virtues of digital assets across Crypto Twitter.
Despite this, however, nearly two thirds (58%) of our community members say they will not be gifting crypto to friends and family this year. This isn’t because they don’t love crypto, though (they are YIELDers, after all!), but because they don’t think their friends and family understand digital assets.
In a poll across our social media communities, nearly three quarters of respondents (71%) cited a lack of understanding among friends and family as their chief reason for not gifting crypto this year.
Three-quarters of our Telegram community (76%) selected “they don’t understand it” as their chief reason, while 66% of Twitter followers said the same.
Interestingly, 15% of YIELD App Twitter followers cited taxes as their chief concern when it came to giving crypto, while 8% of Telegram respondents blamed the taxman for withholding the gift of crypto this year.
In addition, 11.5% of Twitter users and 8% of Telegram respondents cited “not wanting to share the wealth” as their reason for not gifting crypto, while 8% of respondents on both platforms said friends and family don’t like crypto.
Not all of our channels delivered a firm “no” vote on gifting crypto, though. The strongest “no” came from our Instagram community of over 13,000 followers, where 65% of respondents voted against gifting crypto, while among our 10,000 Telegram users, 61% of respondents said they would not give crypto to a friend or family member.
Our Twitter community of nearly 60,000 followers, though, bucked the trend, with a hairline swing toward the “yes” camp. On Twitter, 51% of respondents said they would give crypto as a gift, while a slim minority of 49% said they wouldn’t.
Commenting on the YIELD App community’s gifting intentions, Tim Frost, founder and CEO of YIELD App, says: “With just 4% of the global population currently owning cryptocurrency, it’s perhaps understandable that our community members feel their friends and families wouldn’t understand it.
“What’s great about digital wealth management platforms like ours, though, is that they give users an easy, understandable and secure way into what can seem like an impenetrable space. The easier and safer the industry makes it for people to get into crypto, the more people will come. That’s what we have always aimed to do at YIELD App, and will continue to do.”
Along with providing a simple, easy to use platform that allows anyone to access the high yielding world of digital assets at the touch of a button, at YIELD App we also take crypto education seriously.
This is why we founded our blog series - The YIELDiversity.This section of our blog is packed with easy to understand articles and guides that explain how to get into crypto, from the basics of What is cryptocurrency? to the finer nuances of What is yield farming?, for those ready to get technical.
And if your friends and family have already seen the light, here’s a list of crypto Christmas gifts they might enjoy: Top five Christmas gifts for crypto enthusiasts. Whatever gifts you are giving this Christmas and new year, though, we hope you have the best festive season, filled with love, joy and happiness. Merry Christmas YIELDers!