A survey suggested that four out of five experienced crypto traders are making money in the crypto market.
In the present time, a huge number of people are doing their best and worst in the crypto market. On one side there are those people, who are making a huge profit, but on the other side, there are those people, who are losing huge. These things raised the question, whether it is better to be a crypto trader or not, because Money is everything in every kind of job, whether it is crypto or non-crypto.
A recent interview of 100 crypto traders revealed that more than 80% of them are making money. This survey was conducted by the blockchain-based derivatives trading platform CloseCross.
CloseCross said that the interview was taken by the independent research company PureProfile. In the interview, 100 crypto traders were included. These traders did crypto trading over $5,000 through the online method across the UK, US, Canada, France, Germany, and India.
The interview revealed that 83% are making money from their crypto trading activities, while 28% said that they made huge money with crypto trading.
Research also revealed that these traders made around $25,000 on average. While 13% of crypto traders made around more than $50,000. And the average cost of every trader was $7,570 and they traded around $69,650 worth of crypto assets in one year.
Besides the profit makers, there were also a few crypto traders, which lost Money. Around 3% of crypto traders faced losses between $5000 to $50,000. And 17% of crypto traders made losses in small amounts.
Vaibhav Kadikar, CEO of CloseCross, said that volatility is an issue. With this people are losing huge funds. He said:
“Volatility is, however, a major issue and potentially people can lose all their money which is demonstrated by the numbers who have ended up breaking even or losing money with some reporting losses of up to $50,000.”