The distinctions between the two groups are particularly clear when it comes to what they are investing in, how they make their trades and where they do their research.
New investors are more than twice likely to own cryptocurrencies compared to their more seasoned counterparts (26% vs. 12%) and are three times more likely to use a self-service mobile app as their primary way to buy and sell investments (63% vs. 20%).
Social media also plays a big role for new investors. More than a third said they used social media to research investment ideas, compared to 15% of those who began investing in 2019 or earlier. On the flipside, only 9% researched investment ideas through direct discussions with a broker or financial advisor, compared to 29% of the more seasoned investors.