Research shows that up to 75% of investors in developing countries in Asia and South America want more cryptocurrency. They are positive about the market and want to expand their portfolio with more cryptocurrencies.
Asia and South America expect an increase
Research firm Toluna conducted a survey and received responses from 9,000 people from 17 countries in February. One of the most in Eye-catching conclusions Is that investors in particular in emerging markets in Asia and South America are confident. They believe that cryptocurrency investments are in a long-term uptrend.
This contrasts starkly with the opinions of investors in developed markets, who are likely to believe that the cryptocurrency is entering a hype cycle, or that the bubble is about to burst.
As a result, developing countries appear to be the most lucrative markets for growth in the cryptocurrency industry, with 32% of consumers surveyed trusting cryptocurrencies, compared to only 14% in developed markets such as the US and EU.
awareness and understanding
The researchers also share a tentative conclusion about why this difference is so large. Perhaps the two most important factors are awareness and understanding of the cryptocurrency markets. Although 61% of respondents said they are familiar with cryptocurrencies, only 23% say they are familiar with the asset class.
Toluna wrote in the study that this may be because it is “a complex concept that is not easy to understand.”
Today, crypto and non-fungible (NFT) cryptocurrency advertisements can be found in many places, including Formula 1 cars and various football stadiums (BLOX in Ajax eg) around the world. This consciously increases it and is good for marketing, but does not directly provide more knowledge and understanding.
The European Union and America are afraid of risks
The relative difference in confidence is also reflected in the numbers: emerging markets (41%) and developed markets (22%). The difference in confidence is further illustrated by the fact that investors in developing countries are more willing to take risks and that respondents from the US and EU want to play it safer. Only 25% of emerging market investors think cryptocurrencies are too risky, while 42% think so in developed markets.
Almost half of them know that encryption can fail
However, a very large portion are still aware of the risks, as the survey indicates that nearly half (45%) of those surveyed agree that cryptocurrencies are not guaranteed to succeed. You can also read:
While 61% of consumers trust both fixed and traditional deposits, only 23% say they trust cryptocurrency deposits in the current market.
What should be changed?
The survey also asked what needs to be done in order for the cryptocurrency to gain more trust from investors. These are the most common answers:
- Competitive transaction fees
- Accurate exchange rates
- High transaction speeds
- More encryption options to choose from
- Tutorials and simple interface
- safe systems
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