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- In today’s market, only 23% of consumers trust cryptocurrency deposits, compared to 61% who trust fixed, traditional deposits.
- According to a recent survey, a staggering 75% of investors in Asia-Pacific and Latin American emerging countries want to boost their exposure to cryptocurrency investments.
- Despite the fact that 61% of respondents stated they are aware of cryptocurrency, only 23% said they are familiar with the asset class.
The majority of investors in APAC and LATAM emerging economies want more crypto because they believe in its long-term growth trajectory, according to the survey. According to a recent survey, a staggering 75% of investors in Asia-Pacific and Latin American emerging countries want to boost their exposure to cryptocurrency investments.
Another Hype Cycle
Toluna questioned 9,000 people in 17 countries for the report, which revealed that more investors in APAC and LATAM emerging markets believe cryptocurrency investments have a long-term rising tendency. In contrast, developed markets believe that crypto is in the midst of yet another hype cycle. Emerging economies look to be the most promising for cryptocurrency growth, with 32 percent of consumers trusting cryptocurrencies compared to just 14 percent in developed markets like the United States and the European Union.
The results revealed that awareness and understanding of the crypto markets are likely to be two of the primary variables contributing to the wide disparities in investing strategy. Despite the fact that 61% of respondents stated they are aware of cryptocurrency, only 23% said they are familiar with the asset class. This, according to Toluna, could be because it’s a complicated idea that’s not easily grasped. Crypto and nonfungible token (NFT) advertising can now be found in a variety of locations, including professional sports arenas all around the world, raising awareness but not necessarily understanding.
The differential in trust between those who have invested in crypto in emerging economies (41%) and those who have invested in developed markets (22%) reflects the relative difference in trust. The lower perception of risk perceived by investors in emerging markets further demonstrates the trust gap. Only 25% of investors in emerging nations believe crypto is too hazardous to invest in, compared to 42% of investors in established areas. 45 percent of consumers feel that cryptocurrencies are not guaranteed to succeed, according to the report, indicating that total perceived risk in crypto remains high. It goes on like this: In today’s market, only 23% of consumers trust cryptocurrency deposits, compared to 61 percent who trust fixed, traditional deposits.
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Only 21% Planning To Invest In Cryptocurrency
Millennials were found to be the demographic with the biggest share of crypto investors, according to the survey. Toluna discovered that 40.5 percent of Millennials aged 25 to 34 in emerging and developed regions invest in cryptocurrency. This statistic is consistent with previous similar studies, such as Morning Consult’s, which indicated that by December 2021, 48 percent of Millennial households questioned would own cryptocurrency. Between the two markets, Gen Z investors aged 18-24 reported a percentage of investment just below that of Millennials, at 40%. Baby Boomers aged 57 to 64, on the other hand, had the lowest rate of investment, with only 21% planning to invest in cryptocurrency.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
