Study: 77% of Saudis Aware of Cryptocurrencies, Only 18% Currently Buying and Selling

More than three-quarters of Saudi Arabian residents are alert of cryptocurrencies, a caller Yougov survey has found. However, the survey besides recovered that lone 18% of those surveyed are presently buying and selling cryptocurrencies.

Easy Accessibility of Virtual Coins

According to the findings of a Yougov survey, astir 77% of Saudi Arabian residents are alert of cryptocurrencies, which suggests that the plus people “has generated a just magnitude of awareness.” The survey data, connected the different hand, shows that lone 18% of those surveyed confirmed they are buying and selling cryptocurrencies.

As shown successful the survey data, portion younger Saudis are presently dominating crypto trading successful the kingdom, the findings amusement that older Saudis besides “plan to woody successful it.”

Image credit: Yougov.

Concerning the factors that motivate Saudi residents to put oregon commercialized cryptocurrencies, the survey recovered that astir fractional of the respondents mention their accessibility. The report states:

Currently, the cardinal information for astir Kingdom of Saudi Arabia [KSA] residents who either put oregon program to put successful integer currencies is the casual accessibility of virtual coins for trading (49%).

According to the study, 43% of the respondents that already bargain and merchantability crypto assets constituent to the “high returns” connected investments arsenic the different cardinal motivator. The survey notes that “this facet has a higher entreaty among 45+ adults arsenic compared to the rest.”

Barriers Stopping Saudis From Investing successful Crypto

About 38% of Saudi residents that bargain and merchantability cryptocurrencies besides mention the request “to diversify my concern portfolio” arsenic different cardinal motivator. About 13% of those investing successful cryptos said they are doing truthful due to the fact that friends oregon household that benefited recommended it.

Image credit: Yougov.

Meanwhile, the survey findings suggest that a important fig of Saudis — 37% of those surveyed — mention the volatility of cryptocurrencies arsenic 1 of their apical reasons for not buying in. Some 36% mention their deficiency of acquisition arsenic a crushed for not investing successful cryptocurrencies and 31% felt “it is not a ineligible mode of investment.”

Only 15% of those surveyed thought investing successful cryptocurrencies was against their religion, portion 13% said the assets airs a cybersecurity risk.

What are your thoughts connected this study’s findings? Tell america what you deliberation successful the comments conception below.

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