According to a survey, Hungarians want to learn more about the long-term investment opportunities offered by cryptocurrencies, but at the same time, the relatively small amount of information in Hungarian still hinders the spread of cryptocurrencies.
Global interest in cryptocurrencies has grown explosively in recent years, but the majority of people in Hungary are still not open to digital tools. The world’s largest crypto exchange, the Binance and according to a survey conducted by the market research company Opinio, the majority of Hungarians still believe that crypto-investments involve a higher-than-average risk. Another problem is that there is not enough information about cryptocurrencies in Hungarian.
Respondents who are not really open to digital devices fear the theft of their personal data in addition to the high risk. Many have also mentioned that cryptos are not considered a safe form of investment.
Those who are open to cryptocurrencies, on the other hand, want to learn more about long-term investment opportunities, information about taxation, and what domestic and international rules apply to trading.
Traders primarily buy bitcoins
The survey also found that 86% of respondents had never used cryptocurrency, while 4% were occasional users. About 3% consider cryptocurrencies as an additional source of income, and 1% consider cryptocurrencies as their primary source of income.
In addition, the research also revealed that even Hungarians who are not familiar with the world of cryptocurrencies have already heard of bitcoin. 61% of crypto traders said they mostly buy BTC and 45% prefer ETH.
Incidentally, the survey was conducted in the first half of December with a total of 1,034 respondents between the ages of 18 and 59 who own a smartphone, and in addition to age, gender, education and place of residence were also taken into account.