Cryptocurrencies have seen a widespread adoption all over the world within past years. This situation remained more or less similar across many countries.
A recent poll assessed how closely Hungary follows the broader trend in light of the rise in interest in cryptocurrencies over the previous few years, according to local media. The largest cryptocurrency exchange in the world, Binance, and the market research company Opinio published the survey’s findings with the Hungarian news outlet MTI.
According to the study, the majority of Hungarians believe that investing in cryptocurrencies still carries higher-than-average risks. They also complain that there isn’t enough information available in Hungarian about digital assets.
Those who are still suspicious of cryptocurrencies emphasize their worries about privacy as well as their concerns that they are not secure enough to use as a kind of investment.
Those who are interested in purchasing cryptocurrencies expressed a want to learn more about long-term investment potential, the taxation of earnings from such transactions, and the rules that govern trading on both a national and international level.
The study’s authors discovered that 86% of participants had never used bitcoin, while 4% were deemed infrequent users. The primary source of income for 1% of people is bitcoin, while another 3% see cryptocurrencies as a secondary source of income.
The survey revealed that even Hungarians who avoid cryptocurrency know about Bitcoin. Ethereum (ETH) investors made up 45% of the sample, while 61% of cryptocurrency traders said they preferred to purchase bitcoin (BTC).
The representative online survey was performed in the first half of December with 1,034 smartphone owners between the ages of 18 and 59, accounting for gender, educational attainment, and residence location in addition to age.
Although the global crypto market tanked since its all time high in November 2021 when it hit its all time high of more than 3 trillion USD, crypto investment still holds the potential to be seen as one capable investment vehicle.
Source: https://www.thecoinrepublic.com/2023/01/16/survey-found-hungarians-cryptocurrencies-are-capable-investment-vehicle/