Research firm Toluna recently examined investor sentiment about cryptocurrencies as bitcoin (BTC) on ethereum (ETH)† The research found that emerging market investors are relatively more confident in crypto.
61% of consumers say they’ve heard of #cryptocurrencyonly 23% say they’re familiar with it.
Read here for sentiments around #digitalcurrencyincluding #investment habits, perceptions of individual consumers, and future purchase intent: https://t.co/VrbDbT3sZu@Harrisint_uk pic.twitter.com/WYTpCaO5CI
— Toluna Corporate (@TolunaCorporate) March 1, 2022
Crypto still little understood
Toluna surveyed 9,000 respondents from 17 different countries. The results showed that crypto is still not well understood, even by investors. 61% of respondents have heard of crypto, but only 23% are actually familiar with it. A third of respondents have invested in crypto, while only 17% of this group is familiar with it.
Furthermore, the research reports that 41% invest because they see potential in crypto in the short term. 40% invest for the long term and 33% to diversify his or her portfolio.
Popular in emerging markets
Crypto is especially growing in popularity in emerging markets, Toluna reports. As many as 75% of investors from emerging markets, such as the Asia-Pacific (APAC) and Latin America (LATAM) regions, expect to invest more in crypto. That’s a lot more than the 57% of developed markets like North America and Europe.
According to Toluna, emerging market investors tend to view crypto as a long-term uptrend, while developed market investors tend to view crypto more as a fad.
32% of emerging market investors surveyed say they trust crypto. In developed markets it is only 14%. Also, 41% of respondents from emerging markets have already invested in crypto, compared to only 22% in developed markets.
Cryptocurrency Still Seen as Risky
Toluna reports that 45% of respondents do not see crypto as a guarantee of success. The perceived risk along with a lack of understanding is what keeps people from investing in crypto, the study says.
Furthermore, Toluna reports that investors want to see the following developments to gain more confidence: competitive transaction costs, accurate exchange rates, fast transaction speeds, more crypto to choose from, tutorials, simple interfaces and secure systems.
More popular among younger investors
Finally, the research reports that 42% of young people between the ages of 18 and 24 indicate that they invest in crypto in emerging markets. In developed markets it is 38%. For young adults between 35 and 34, that is 44% in emerging markets and 37% in developed markets. For the group between 57 and 64, i.e. the baby boomersthat percentage drops to 21%
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