Around 14% of Saudi residents are either current crypto investors or have listed crypto in the past 6 months, according to the latest Kucoin study. The study further revealed that 76% of investors only have one year of expertise and are therefore also interested in relevant crypto education.
Crypto winter effect
About 3 million Saudis, or about 14% of the adult population aged 18-60, are either crypto investors or have listed crypto in the past 6 months, the latest study by the exchange showed. cryptocurrency Kucoin. The study results also indicated that an additional 17% of adults nationwide would be “crypto-curious and likely to speculate in cryptocurrencies over the next six months.”
According to the crypto exchange’s Into The Cryptoverse report, the study also verified, but Saudi residents’ sentiment towards crypto trading has changed since the start of the continuous crypto winter.
“In the first quarter of 2022, 49% of crypto investors intended to expand their investments in cryptocurrencies over the next six months. The appearance of the pessimistic market during the second quarter of 2022 saw a reversal of capitalist sentiment towards additional conservative means associated with holding cryptocurrencies,” the report notes.
The report adds that since the start of the second quarter, some thirty-first crypto house owners in the country have reported wanting to “keep their crypto balance as is rather than increasing their investment.” Conversely, lower-income investors were concerned with liquidating part of their portfolios for a similar amount.
Crypto the future of finance
Meanwhile, Kucoin stated above that he found that 76% of investors only have one year of experience. 49% of these investors only started crypto trading or crypto finance in the last six months. According to the report, the high proportion of newbies in Saudi Arabia highlights the need for crypto education.
When it comes to their funding reasons, 51% of Saudi crypto investors said they are in this business because “they think it is the longer-term funding.” Nearly 44% and more are funded in cryptocurrencies because it “can bring them higher returns over the long term compared to other styles of currency investing.”
While men were the first dominant gender group (63%), young investors aged thirty and under are believed to currently represent at least a third of the total. While 44% of male crypto investors said they might not need to miss the trend, the study determined that women are also targeted for the realistic benefits of crypto.
In terms of data sources, the report states that “84% of crypto investors communicate with each other [social media] once doing their analysis, including YouTube and Twitter. just over a third (35%) would believe that online communities once tried to find crypto-related information.
Nearly 50% of crypto investors acquire digital currencies with collapsible money and interact monthly with spot trading. According to the report, this “involves trading, buying and profiteering on this value due to the only type of crypto trading considered halal by some students in the Arab world.”
The post office Study says 14% of Saudis are crypto investors, 76% have less than a year of cryptocurrency investing experience first appeared on BTC Sons.