UAE Residents Want To Invest In Cryptocurrency

UAE residents want to invest in cryptocurrency, Holborn Assets Survey

UAE residents to invest cryptocurrency: According to Holborn Assets Survey, the comparatively uncertain history of cryptocurrencies has not dampened demand in the UAE for these assets.

In fact, nearly one-quarter, 26% of the 1,000-plus respondents see these properties as providing “exciting investment opportunities,” with 45% wanting more information before investing.

Reflecting this reasonably strong demand, 44% of 830 respondents to an asset allocation query said they would be comfortable investing more than 5% of their investment portfolio in cryptocurrencies in 2021.

Stefan Terry, the UAE’s global senior partner at Holborn Assets, said: “There has been an obviously rising demand for this fresh, attractive asset class, especially in view of its potential returns to the investor.

“The survey findings also illustrate the strong interest locally in further education regarding cryptocurrencies as a precursor to make portfolio allocations,” Terry said.

Age and Nationality create a demographic divide in Crypto Currencies Survey

The variations in survey responses in various segments of the population were especially significant in the UAE carried out by YouGov.

For example, between 18-24 years old and 17% in 45+ years old, cryptocurrencies make them more bullish, with one-third of respondents who consider themselves to be “exciting investment opportunities.”

Meanwhile, only 10% of the younger age group wishes to have those assets highly controlled, compared to 17% of the older investors. And while only 12% of young participants believe that crypto-activities are a trend, this increases to 20% among 45-year-olds and older.

There are also surprising nationality trends. In contrast to Arab ex-pats (23%), Asian citizens (24%) and Westerners (19%), for example, Emiratis are the most active investment party in cryptocurrencies, at 33%.

Just 7% of Emirates want crypto-related assets to be heavily controlled, while almost one in four Western ex-pats (24%) who answered the survey preferred this choice.

The comfort level of UAE investors in crypto assets is also markedly different. For example, one-third of Emirati respondents said that they would benefit from an allocation of 5-10% and of 19% a holding of 0-2%.

In comparison, for the western ex-pats only, 51% reported allocating 0-2% for cryptocurrencies; only 14% said allocating 5-10% would be comfortable.

Source: Khaleej Times

Link: Download Free forex trading ebooks


Honor X7b with 108MP Camera, 6000mAh Battery Launched Globally Tecno Spark 20 Unveiled: 90Hz Display, 50MP Camera, and Helio G85 App Store Awards 2023: The Best Apps and Games Telangana Exit Polls 2023: Congress Likely to Win 58-67 Seats Poco X6 Pro 5G is coming as a rebranded Redmi K70e globally?