Research shows that as many as 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 crypto.
Asia and South America expect 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 especially investors in emerging markets in Asia and South America are confident. They believe that cryptocurrency investments are on a long-term upward trend.
This is in stark contrast to the views of investors in developed markets, who are more likely to believe that crypto 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, as 32% of consumers surveyed have confidence in cryptocurrency, compared to just 14% in developed markets such as the US and the EU.
Consciousness and understanding
The researchers also share a tentative conclusion about why this difference is so large. The two most important factors are probably awareness and understanding of the crypto markets. Despite 61% of respondents saying they are aware of crypto, only 23% say they are familiar with the asset class.
Toluna writes in the study that this may be because “it is a complex concept that is not easy to understand.”
Widely represented
Today, crypto and nonfungible token (NFT) advertisements can be found in many places, including Formula 1 cars and various football stadiums (BLOX at Ajax for example) around the world. This consciously increases it and is good for marketing, but does not directly provide more knowledge and understanding.
EU and America afraid of risks
The relative difference in confidence is also reflected in the figures: 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 respondents from the US and EU want to play it safer. Only 25% of emerging market investors believe crypto is too risky to dive into, while 42% in developed markets think so.
Almost half know that crypto can fail
Still, quite a large part is aware of the risks, the survey states that almost half (45%) of those polled agree that cryptos are not guaranteed to succeed. You can also read:
“While 61% of consumers trust fixed, traditional deposits, only 23% say they trust cryptocurrency deposits in the current market.”
What needs to change?
The survey also asked what needs to be done for crypto to gain more confidence from investors. These are the most common answers:
- Competitive transaction fees
- Accurate exchange rates
- High transaction speeds
- More crypto options to choose from
- Tutorials and simple interface
- Secure systems
What’s going well?
Not entirely coincidentally, these are also the points that the BTC Direct trading platform has focused on. The cryptocurrency quotes come from major international exchanges, investors can trade instantaneously and just about all known cryptocurrencies are offered. In addition, the interface is simple so that everyone can get started with it. The transaction costs are low and the cryptos are secured offline. No one can access the investors’ money or cryptos.
Unlike any other crypto trading platform, BTC Direct also offers knowledge and a news platform. Once registered, you will receive the latest news about the price and what is happening on the crypto markets. You also have access to exclusive market analysis and daily videos.
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