2022-9-4 12:52 |
By Mr. Prashant Pandit,
Top 20 global crypto influencer,
Crypto advisor, Investor, Board member & Executive Director Universal CLC
Check his social media profile: My profile
Despite a market downturn, in the second quarter of this year, more European retail investors put their money into crypto, while in most of the Americas, trust in this nascent asset class continued to rise, and a cautious approach to crypto investments somewhat strengthened in Asia. Also, a better understanding of crypto would bring more new investors into this market.
These are the findings of a global survey commissioned by crypto exchange Bitstamp 28,000 retail and institutional investors in 23 countries around the globe were surveyed between May 19 and June 6, 2022.
The survey showed that, at the end of the second quarter of 2022, some 52% of surveyed retail investors in major European markets admitted to investing in cryptocurrencies, up from 45% in the first quarter of this year.
Also, according to the findings, consumer education remains an issue holding investors back from entering the market, with 21% of respondents in Europe saying they would like to make investments in crypto, but do not know enough to get started. The figure was highest in the UK, where it had risen from 25% in April to 31% as of the survey’s last day, according to Bitstamp.
Meanwhile, across most of the Americas, retail respondents continued to demonstrate more trust in crypto in the second quarter.
“In fact, Canada was the only country that saw trust in cryptocurrency dip slightly below 50% in Q2 vs. Q1 among retail respondents. All other countries in the Americas saw trust in cryptocurrency remain high, at or above 68% with countries such as Brazil at 77%, Chile at 69%, and Mexico at 70%,” according to the survey.
In Asia, Bitstamp said that the polled participants from Singapore, Australia, Hong Kong, Japan, and India indicated the majority of the region’s institutional investors, at 66%, would continue to recommend crypto as an investment actively. However, there was an increase in those who would cautiously recommend crypto investments to their clients, at 18% in the second quarter, up from 14% in the first quarter of 2022.
“But they are also taking the crypto winter as an opportunity to build for the future. In Singapore, when asked about their future plans for crypto, more than a third of institutions spoke in favor of increasing investments (35%), expanding their knowledge base for their clients (33%), and investing in increasing their crypto offerings (34%),” according to the report.
India remains bullish as now digital assets comes under tax bracket which is in a way legal status to crypto assets.
Finance ministry will review the developments positively as this is a new revenue source and new start ups in blockchain are driving the government based projects.
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