Bitcoin as a gateway drug? – BTC and the door to the Altcoins

Bitcoin is the gateway drug for the crypto market? – This interesting question, we want to go today to the bottom of it. To this end, we take a look at the current report of the largest crypto-Brokers: Coinbase. In their recent Report, the question is, how much percent of the investors are actually buying directly in Bitcoin, and whether BTC will only open the door to the purchase of other Altcoins?

60% of the Coinbase users to start using Bitcoin

As already mentioned, the current Coinbase-Report forms (see source) the Basis of our article. For the report the purchasing behavior of all Coinbase customers who have at least 5 purchases (!) on the platform have been made, studied. The investigation period ran from 2019 to 2020.Let’s first take a look at the so-called “Asset Preference” – Which crypto-currencies prefer the customers and is Bitcoin in fact the entry in the crypto world?Here, we can see clearly that the absolute majority of 60% of Bitcoin makes as a first purchase on the platform. Thus, it is underlined that, at least by the data from Coinbase – the Theory that BTC is the entry in the crypto market. Nevertheless, it is interesting to see that 40% of the customers first buy a Altcoin.Exciting is the finding that 36% of customers in arrears (that is, switch to your bitcoin purchase) to Altcoins, and thus, a different Asset to buy. also A good quarter of all customer Bitcoin loyalty and buys no other Coins.4 reasons why Bitcoin must have in each Portfolio are: Free from any ideology or emotions we show you in this article, 4 reasons why Bitcoin must in every Portfolio. Correlation, return-to-risk ratio, scarcity and Adoption are the four major keywords. We let the facts speak! Of the 4 reasons.

Conclusions and significance of the Reports

The Report itself, we can say that the period was for the report at least a full year. A significant limitation to the explanatory power, however, is the condition set that a customer had to make at least 5 purchases on Coinbase. Exciting the Numbers for all of the customers would be, so starting with the first purchase on Coinbase, even if no further purchases were to follow.Nevertheless, we find that Bitcoin formulated the Narrative of the “gateway drug”, or loose the “Altcoin Gateways” operated to keep fixed. Due to the awareness about the crypto-space, and the him certified properties as digital Gold and as a Store of Value, many investors of your stay in the crypto world, Bitcoin.

BTC remains the dominant crypto-currency and point of entry

The just mentioned 24% of all customers increase in the course of its investors, career, their positions in Bitcoin, and therefore completely on other Altcoins. It would be interesting to see what other information there is about this group. It is investors who see BTC as a complement and/or Hedge an existing portfolio? Also conceivable are the type of investors, the Bitcoin due to its network strength and, to date, successful history as the “only true crypto currency” and, therefore, the majority of Altcoins say no.On the other hand, we do not see that Bitcoin is only the entry point for the crypto market, but obviously a lot of investors stimulates then to deal with the matter. Subsequently, some other crypto-currencies, and projects so that they complement their Portfolio with other Coins.62 % of private CFD accounts lose money. No EU investor protection.What do you think about the findings of the report? – Is Bitcoin for you, the only true crypto-currency, or do you invest in Altcoins? Come on in to our Telegram Chat and talk with the experts and the Community!
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(Image source: Shutterstock)The versions in this article, no trade recommendations or investment advice.

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