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In 2022, 1,627 people participated in a ForkLog survey. As promised, we share the results and discuss readers’ investment portfolios, their attitudes toward mining, staking, and other segments of the industry.
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Portrait of the reader
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Most respondents are men aged 26–35 living in Russia.
Women among the participants accounted for only 8.4% (in the previous year was 6.6%). A quarter of the audience lives in Ukraine (25.1%).
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Almost half (48.4%) of respondents rated their income as middle, 24.1% as low, 23.6% as above average.
19.8% of readers are involved in the blockchain and cryptocurrency business, 18.2% plan to get involved. 21% of respondents are entrepreneurs in other fields.
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The majority of readers continue to favour Bitcoin and Ethereum, with Binance Coin (BNB) in third place.
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In general, ForkLog readers use digital assets for long-term investment. More than a third engage in trading.
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Anonymity
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Most respondents do not use privacy-focused cryptocurrencies (84.6%) or mixers (96.3%) for transactions.
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Reader portfolio
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The majority (33.7%) of respondents first bought or received cryptocurrency in 2017–2019. Almost a third (31%) did so in 2020–2021, and 13.9% in 2022.
Among respondents, portfolio returns in the past year were noted by only 27.2%.
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The two most popular crypto assets remain Bitcoin and Ethereum, with Binance Coin (BNB) in third place.
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In general, ForkLog readers use digital assets for long-term investment. More than a third engage in trading.
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DeFi
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Most readers invested in the DeFi sector in 2022 (34.9%). Another 27.1% plan to do so in the future.
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The most popular DeFi services among readers were PancakeSwap (21.3%) and Uniswap (18.7%).
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Only 7.2% of respondents participate in the governance of DAOs, but another 24.4% plan to get involved.
The most popular DAOs among readers were Polkadot (2.7%), Uniswap (1.8%), and BitDAO (1.2%).
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Trading
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Most ForkLog readers trade cryptocurrencies. 35.7% of all respondents described it as profitable activity.
More than 40% of those surveyed prefer centralized venues to decentralized ones, while 19.7% combine platform types for trading.
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Among centralised exchanges, Binance is the undisputed leader among respondents (63.9%). In second and third places were Bybit (19.9%) and Huobi (13.9%).
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More than two-thirds (71.2%) do not trade crypto derivatives, another 22.9% prefer futures.
Almost a third (29.1%) of respondents use leverage.
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Wallets
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The most popular wallets were MetaMask (49.8%) and Trust Wallet (43.8%).
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More than two-thirds (68.4%) do not use hardware wallets. Readers mainly prefer Ledger.
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Colapses and hacks
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Only 7.9% of users reported losses due to hacker attacks. About 18% lost money due to the Terra crash.
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Just 2.5% lost assets due to bankruptcies of CeFi platforms.
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