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Its study among crypto traders across six major economies who stake at least $5,000 a month, found 83% say they make money on their trading with 28% saying they have made a lot of money. The research by CloseCross , which is regulated under MIFID II rules, in the US, UK, France, Germany, India and Canada found average profits are more than $25,000 but 13% claim to have made more than $50,000 trading in digital assets.

On average the crypto traders surveyed stake $7,570 a month in the markets and estimate they have traded cryptocurrencies worth around $69,650 in the past year.

The study for CloseCross, which enables traders to generate profits through a simplified three clicks process of selecting an asset, predicting price-bracket(s), and committing funds to these predictions, for a variety of asset classes including crypto as well as stocks, forex pairings, indexes, and commodities, found not all traders are making money.

Around 17% say they have more or less broken even from their crypto trades or have lost money, with 3% admitting to losses of between $5,000 and $50,000.

CloseCross CEO, Vaibhav Kadikar, said: "Some crypto traders are seeing strong returns from their activity in the crypto markets with 28% claiming to have made a lot of money.

"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.

"Our platform offers CloseCross Crowd Wisdom which provides real-time data on the views and investments of other traders enabling investors to make a more informed forecast based on increased transparency. People can choose to follow the crowd or go on their own views."

CloseCross is regulated under MIFID II rules offering increased protection and transparency for customers. Unlike other trading platforms, there are no participation fees for using CloseCross, and its patented multiparty model ensures that leverage is not needed to achieve potentially outsized returns. Money placed on incorrect predictions is lost, but you never lose more than what you put in as there is no leverage needed or possible on the platform. Users pay facilitation fees, only on their winning trades, giving them significant savings when compared to traditional trading platforms.

The platform also provides real-time data on the predictions of other traders enabling investors to make a more informed forecast based on increased transparency. People can choose to follow the crowd or go on their own views.