- Survey reveals that most crypto investors are undergoing great stress in their personal relationships.
- Out of those who invested more than 75% of their net worth, 100 percent say their relationship has been hurt.
Investing in crypto can be quite rewarding, with many making millions. However, there’s a less talked about side effect to the glamorous profits – the toll it has on personal lives. To unveil the impact of crypto investment on people’s personal relationships, SurveyMonkey has published the findings of a study that sought to dive into the lives of retail investors. The survey was conducted on 1,033 Americans strategically balanced by age and gender.
The negative impact of crypto Investment on personal relationships
According to the report, 60 percent of crypto investors have had their relationships affected negatively.
Out of the respondents who have invested 10 percent or less of their net worth into crypto, 25 percent of them disclosed that their relationships have been hurt. 73 percent of those whose investment ranges from 10 percent to 25 percent of their net worth said their relationship has been negatively affected. For those who invested 50 percent to 75 percent of their net worth into cryptos, 94 percent agreed that their relationship has grown from good to worse. 100 percent of those who invested 75 percent and above of their net worth are having problems in their relationships.
The findings reveal that the percentage of net worth invested into a crypto asset is directly correlated to the level of negative impact on one’s relationship.
Jeffrey Halley, a senior marketing analyst at Oanda Asia Pacific disclosed that it is likely that a partner who invests in a crypto asset while the other half appears to be a non-believer can cause “natural stress”.
In some cases, the high volatility of the crypto prices, an uncertain regulatory imposition that could cause a crash, the possibility of losing one’s investment through a data breach, and loss of access to the crypto wallet by forgetting seed phrases are some of the causes of the relationship stress.
“Money and greed can corrupt. If one person becomes a paper millionaire or loses everything, the perception of both parties toward each other could change,” added Halley.
The positive impact on personal relationships
While many are trying hard to convince their non-believer partners to win back their relationships, others, according to the survey have seen a positive impact of crypto investment on their families.
Vignesh Sundaresan, a crypto billionaire who purchased the “Everyday: the first 5,000 days” Beeple artwork at a record price of $69.3 million shared his story. According to him, his parents are very happy with his decision and the outcome.
“Even five years ago about putting a bit of their money into crypto. They are seeing my growth and that gives them confidence about their investments — and I’m happy about that,” he said.