A research done by Nobl Insurance on a wide range of aspects of cryptocurrencies in the United States has shown promise for the market growth. The report suggests that there has been a growth of 42% in the last year. And as much as 25 million American citizens would invest in cryptocurrency in the next 12 months. The research was carried out by the company to assess the market for the launch of its new insurance service. Nobl will soon provide insurance policy to hot wallets on crypto exchanges.
According to the report, 6.72 million new investors have entered the market since May 2019, and 37% of the investors own $5,000 worth of digital currency and other 8% hold $50,000. The report revealed that only 10% of investors keep their cryptocurrencies in offline cold storage and 50% investors only use a hot wallet to store their assets.
The report shows that men own more than half of the cryptocurrencies, but women are slowly catching up as of now the women own 35% of cryptocurrencies. 44% of the owners were above the age of 35. The report says in coming days as use of digital currency expands more women and young investors are likely to increase.
Nobl will provide insurance to hot wallets from $100 to $50,000 from the risk of an exchange hack. Only one policy secures an investor from different approved exchanges. If an exchange is hacked and cryptocurrency is stolen, Nobl will pay the claim.