- A good 58 percent of Irish respondents said that they are willing to buy crypto over the next 12 months.
- Crypto adoption in developing countries beats that of developed countries by a huge margin.
Crypto exchange Gemini recently released the 2022 Global State of Crypto report highlighting the state of the crypto market currently. Having surveyed 30,000 people across 20 countries, Gemini found that Irish people emerged as the most “crypto curious”. Of this “crypto curious” category, the majority are women.
Out of 1700 Irish respondents, 58 percent who do not own crypto, showed interest in learning more and said they would buy over the next 12 months. The survey also shows that 18 percent of Irish respondents either own cryptocurrency or have previously owned it. this is a similar level of ownership in comparison to other big countries such as Germany, the UK, Australia, and the U.S.
The study also shows that the average crypto investor in Ireland is 36 years old. The same crypto investor earns anywhere between €26,000 and €64,999 annually. A staggering 79 percent of Irish investors said that they are holding their crypto for long-term gains. Another 39 percent said that they are actively trading their crypto. Speaking on this development, Gillian Lynch, Gemini’s Head of Ireland and Europe said:
This global survey reveals that Irish people have a strong appetite for crypto, which is expected given Ireland’s international reputation as a hub for financial services and emerging technologies.
Highlights of the global crypto survey
As said, crypto exchange Gemini conducted a survey across 20 countries. After Ireland, Germany stood second with 53 percent of respondents stating that they are ‘crypto curious’. This was followed by Colombia at 50 percent and the UK at 49 percent.
The rate of adoption in developed countries remained high. However, developing countries like Brazil facing a high inflation rate witnessed faster adoption. Crypto exchange Gemini also noted that Brazil and Indonesia reported the highest adoption. A healthy 41 percent of the people surveyed here said that they own crypto. Also, this was twice in comparison of 20 percent in the United States and 18 percent in the United Kingdom.
But still, not many people in developed countries believe that crypto is a sound inflation hedge. In India and Indonesia, 64 percent believe that crypto serves as an inflation hedge. This number is quite low, with only 16 percent in the U.S. and 15 percent in Europe agreeing to crypto as an inflation hedge. Blair Halliday, the Head of Gemini UK said:
Last year was transformational for cryptocurrency ownership, with significant growth in UK adoption. A high proportion of UK investors see crypto as a long-term store of value, suggesting more people are recognising crypto’s part to play in a diversified investment portfolio.
Apart from just retail adoption, institutional participation in crypto has also been on an uptick. A majority of these recently are coming from Europe.
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