51% of crypto investors in Saudi Arabia optimize the crypto future, KuCoin studies show
Nearly 3 million people in Saudi Arabia have entered the crypto space in the last six months, according to a study by KuCoin.
To explore the adoption and penetration of cryptocurrencies in Saudi Arabia, the crypto exchange KuCoin released an “Into The Cryptoverse Report”. The study revealed sustainable interest among crypto investors in Saudi Arabia. According to the report:
“51% of crypto-investors invest because they believe it is the future of finance, while 44% believe that cryptocurrencies can give them higher returns in the long run compared to other types of financial investments.”
Over the past six months, 14% of the adult population has entered the crypto area by either trading digital assets or owning them. Furthermore, 17% of adults portrayed cryptocurrency and were likely to invest in cryptocurrencies over the next six months.
New market players went through the roof, with the report saying:
“The high proportion of new entrants is unique to Saudi Arabia, as 76% of crypto investors have less than a year’s experience in cryptocurrencies, including 49% of those who first started trading cryptocurrencies in the last six months, indicating strong demand for crypto education in the market. “
Despite the beginning of the bearish market in the second quarter of this year, some crypto owners in the country still showed confidence in their investments. The study also highlighted:
“In the second quarter of 2022, 31% of crypto owners in Saudi Arabia said they would keep the crypto balance as it is instead of increasing investment.”
However, the ratio of gender inequality is a bit high when it comes to crypto investments because 63% are men and 37% are women. Nevertheless, female investors show a more practical mindset by looking at realistic benefits. The survey said:
“48% of female crypto-investors are motivated by long-term profitability, and 42% of women invest in crypto to generate passive income.”
With 42% of Saudi crypto investors looking at profits earned as a springboard to improving families’ living conditions, the KuCoin study found that these unique aspects opened up new horizons and opportunities for the country’s cryptocurrency market.
Meanwhile, Argentines have sought refuge in stack coins after the finance minister resigned, Blockchain.News reported.
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