Toluna researchers questioned 9,000 people from 17 countries to produce the report, which was issued in February and revealed that more investors in APAC and LATAM emerging economies believe that cryptocurrency investments are on a long-term rising trend. This is in contrast to established markets, which feel cryptocurrency is in the midst of another bubble cycle.
Emerging markets look to be the most promising for growth in the cryptocurrency business, with 32 percent of consumers questioning trusting cryptocurrencies, compared to 14 percent in established markets such as the United States and the European Union. According to the survey, two of the primary variables contributing to the wide variations in investment strategy are knowledge and comprehension of the crypto markets. Despite the fact that 61% of respondents said they were aware of cryptocurrency, only 23% said they were familiar with the asset class. Toluna hypotheses that this is due to a sophisticated idea that is not easily grasped.
Crypto and non-fungible token (NFT) advertising may now be found in a variety of settings, including professional sports venues throughout the world, raising awareness but not necessarily comprehension. The differential in trust is evident in the proportion of people polled who had invested in cryptocurrency in developing economies (41 percent) compared to developed markets (22 percent).
The decreased feeling of risk felt by investors in emerging markets exemplifies the trust gap. Only 25 percent of investors in developing countries believe crypto is too risky to invest in, compared to 42 percent in developed markets. However, according to the survey, 45 percent of consumers feel that cryptocurrencies are not guaranteed to thrive. In today’s market, just 23 percent of consumers trust cryptocurrency deposits, compared to 61 percent who trust conventional fixed deposits.
The biggest share of crypto investors were millennials. According to Toluna, 40.5 percent of Millennials aged 25–34 in developing and developed countries invest in cryptocurrency.This figure is consistent with previous comparable studies, such as Morning Consult’s, which found that by December 2021, 48 percent of Millennial families questioned held cryptocurrency.
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