RATE Group | Most Are Still Afraid to Invest in Crypto Despite Increased Awareness, OECD Survey Shows
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Most Are Still Afraid to Invest in Crypto Despite Increased Awareness, OECD Survey Shows

05 Feb Most Are Still Afraid to Invest in Crypto Despite Increased Awareness, OECD Survey Shows

Posted at 11:39h in Cryptocurrency News by

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Despite awareness of cryptocurrencies and initial coin offerings (ICOs) being high and interest in investing in this new asset class being strong, ownership of cryptocurrencies and tokens issued through ICOs is still low in Southeast Asia, according to a research by the Organisation for Economic Co-operation and Development (OECD).

The OECD, which conducted a survey in 2019 to understand the attitudes, behaviors and experiences of financial consumers in cryptoassets across Vietnam, Malaysia and the Philippines, found a high level of awareness of cryptocurrencies. However, only 30% of respondents across these three markets owned cryptocurrencies.

Ownership of tokens issued through ICOs was even lower with only 16% of respondents reporting that they currently invested in them.

Cryptocurrency ownership

Cryptocurrency ownership, OECD (2019), Cryptoassets in Asia. Consumer attitudes, behaviours and experiences

A majority of respondents (69%) who had bought cryptocurrencies had done so following the advice of…

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