Study: 14% of Saudis Are Crypto Investors, 76% Have Less Than One Year of Experience in Cryptocurrency Investment

About 14% of Saudi residents are either existent crypto investors oregon person traded crypto successful the past six months, the latest Kucoin survey has found. The survey has besides recovered that 76% of investors person little than 1 twelvemonth of acquisition and frankincense whitethorn beryllium successful request of applicable crypto education.

Crypto Winter Effect

Around 3 cardinal Saudi Arabians, oregon astir 14% of the big colonisation aged 18 to 60, are either crypto investors oregon person traded crypto implicit the past six months, the latest survey conducted by the cryptocurrency exchange Kucoin has shown. The survey findings besides suggested that a further 17% of the country’s adults are said to beryllium “crypto-curious and are apt to put successful cryptocurrencies implicit the coming six months.”

According to the crypto exchange’s Into The Cryptoverse report, the survey besides looked astatine however Saudi residents’ sentiment toward crypto trading has shifted since the onset of the ongoing crypto winter.

“In the archetypal 4th of 2022, 49% of crypto investors intended to summation concern successful cryptocurrencies implicit the coming six months. The onset of the bearish marketplace successful the 2nd 4th of 2022 saw a reversal of capitalist sentiment toward much blimpish strategies related to the holding of cryptocurrencies,” the study noted.

The study added that since the commencement of Q2, immoderate 31% of crypto owners successful the state person signaled a tendency to “keep their crypto equilibrium arsenic is alternatively than summation their investment.” In contrast, investors with little incomes person tended to liquidate portion of their portfolios during the aforesaid period.

Crypto the Future of Finance

Meanwhile, Kucoin said it recovered that 76% of the investors person little than 1 twelvemonth of experience. About 49% of these investors person lone started crypto trading oregon investing successful crypto successful the past six months. According to the report, Saudi Arabia’s precocious proportionality of newbies points to the request for crypto education.

With respect to their reasons for investing, immoderate 51% of Saudi crypto investors said they are successful this concern due to the fact that “they judge it is the aboriginal of finance.” About 44% said they are investing successful cryptocurrencies due to the fact that they “can bring them higher returns successful the agelong tally compared to different types of fiscal investment.”

While men were recovered to beryllium the astir ascendant sex radical (63%), young investors aged 30 and beneath are present thought to relationship for astatine slightest a 3rd of the total. While 44% of antheral crypto investors said they would not privation to miss the trend, the survey observed that women are much focused connected the realistic benefits of crypto.

In presumption of sources of information, the study said “84% of crypto investors crook to [social media] erstwhile doing their research, peculiarly YouTube and Twitter.” Just implicit a 3rd (35%) reportedly trust connected online communities erstwhile looking for crypto-related information.

Nearly 50% of crypto investors get integer currencies with fiat wealth and prosecute successful spot trading each month. According to the report, this “involves trading, buying, and selling connected the existent marketplace worth arsenic the lone signifier of crypto trading that is considered halal by immoderate scholars successful the Arab world.”

What are your thoughts connected this story? Let america cognize what you deliberation successful the comments conception below.