18% of u.s. investors use the debt to buy Bitcoin

It is an interesting information that has just been published by LendEDU, a market place bring together financial institutions and people in search of loans. In fact, according to this study, 18 % of Americans who buy Bitcoins go into debt. What should we understand ? It explains to you !

Household debt reached a record level

In 2017, the Nilson Report was particularly alarming with regard to the situation of indebtedness of households in the United States. In fact, the total debt related to credit cards was particularly important, as it reached the 1 000 billion. Unfortunately, the popularity of crypto-currencies does not help the situation. According to the survey conducted by LendEDU from 672 to u.s. investors, they are likely to turn to Bitcoin in having recourse to the loan… The numbers are clear as 18,15 % of the investors in Bitcoin interviewed stated that they had taken out a loan to fund this financial investment. Among the responses to this survey, here is one of them, particularly instructive :

Which of the following statements best describes how you have financed your purchase of Bitcoin ? – Bank transfer ACH : 18,60 % – debit Card : 33,63 % – credit Card : 18,15 % – bank Transfer : to 13.39 % – Other : 16,22 %

Pixabay – QuinceMedia

Troubling results

The company LendEDU, which is therefore at the origin of this statistical study, believes the results are worrying. In addition, the findings of the survey demonstrate that 22,13 % of the us investors in Bitcoin have not filled the overdraft is linked to their credit card since their purchase of crypto-currencies. But why did investors use the loan to finance the purchase of the crypto-currency ? The answer is simple : they simply make a bet… They believe that risk-taking is minimal and that the benefit they will derive from their investment in Bitcoin will fill quickly discovered… They do not seem to worry about the volatility of the crypto-currency. It is a very dangerous game ! All the more that some Americans are going much further, contracting outright of the mortgage loans to be able to buy Bitcoin.

However, caution is required. This phenomenon has so far not been observed in France… more To come !

Source : News Bitcoin