Bitcoin Being Used for Funds in America

The use of Bitcoin has increased rapidly in the world. Many countries around the world are regulating Cryptocurrencies. So many are moving forward in this process. At present, investing in crypto is not only among the young people, but it is also becoming popular among the elderly. According to the news, many people in USA are investing in cryptocurrencies to help them raise funds on their retirement. Whereas, the recent steep fall in the crypto market has been a reminder that this segment is only for those with a high risk appetite.

The crypto market has seen a decline for some time now. In terms of market cap, the price of the largest cryptocurrency, bitcoin, fell nearly 60 per cent to nearly $30,000 from a high of $69,000 in November last year. Investors have lost millions of dollars due to the fall in the crypto market. A survey by crypto exchange KuCoin revealed that nearly 27 percent of people aged 18-60 in the US owned or traded cryptocurrencies in the past six months.