Asians and Africans more likely to invest in crypto, survey shows

According to a recent survey by the blockchain software company Consensys, people in Asia and Africa are more likely to invest in cryptocurrencies over the next year.

Per the blockchain company, the survey was taken among 15,158 respondents aged 18 to 65 across 15 countries in four continents — North and South America, Europe, Africa, and Asia.

Moreover, the survey reveals that 92% of the respondents have heard of crypto. At the same time, most interest in investing in the asset class over the next 12 months comes from Nigeria, South Africa, the Philippines, Vietnam, Indonesia, and India.

Per the survey, most respondents in Europe and Japan confirmed they definitely would not invest in crypto. 

22% of the respondents in France, the U.K., Japan, and Slovakia stated the main reason for not investing in crypto is the high volatility of the asset class. In addition, interviewees from Brazil, South Africa, and some from the U.K. added that “there are too many scams” in the industry.

Only 3% of the respondents believe that blockchain technology and web3 are “not innovative” and are the same as the already existing tech.

Moreover, the majority of the respondents from Asia, South America, and Africa believe that crypto is environmentally friendly. On the other hand, respondents from the U.S., Japan, South Korea, and Europe said that “crypto is not an environmentally friendly technology, and it will never be.”

The majority of the survey takers believe that the collapse of high-profile crypto firms in 2022 had a significant impact on trust in the crypto ecosystem. However, respondents from Germany, Vietnam, India, and South Africa stated that the bankruptcies did “not impact” the industry.