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A recent survey done by the cryptocurrency research firm suggested that Vietnam has the most retail investment in the world. Leading the pack by 41%, the Finder study reveals that the country owns atlease one digital currency. Surprisingly, both the U.S. and U.K. were on the bottom of the roster with eight and nine percent of the participants said that they own crypto respectively.
The website’s survey covered 27 countries with 42,000 respondents and was conducted via Google. It was highlighted, however, that since Google’s infrastructure is different within each of the participating countries, this does not mean that the survey represents the view of that entire country. This is because the survey may have inquired households that are favorably disposed towards cryptocurrency investments such as those with access to the web in countries that don’t have adequate power supply.
As mentioned earlier, other Asian countries made it to Finder’s survey. Next to Vietnam were Indonesia and India both with 30 percent, Malaysia getting 29 percent, and the Philippines getting the fifth spot with 28 percent.
Bitcoin – the go-to crypto
Looking into the survey, it can be observed that in all of the countries that were surveyed, bitcoin grabbed the top spot in being the go-to digital currency. The study showed that a lot of the participants from different countries owned the said cryptocurrency as its gap among other digital assets can be easily noticed.
Technically illegal
Going back to Vietnam, the result – according to Finder – is rather an interesting one since cryptocurrency has been technically deemed illegal in that country. Back in March, the country’s Minister of Finance Thanh Nien issued a warning to potential investors that there was no legislation related to the purchase or sale of crypto within Vietnam.
Also, the Vietnam Net News article from 2017 noted that the number of users of cryptocurrency in the country could grow to 30 million by the year 2027. If this survey is anything to go by, it means that such a forecast could be nearing its target. Albeit the growing number, the true use of crypto within Vietnam is likely to be lower because the sample was not fully nationally representative. This translates to samples being skewed more towards those demographic brackets that are more likely to have invested in crypto. The country also lorded over the list in terms of bitcoin ownership with 20 percent.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
