Hungarians want to know more about the long-term investment opportunities offered by cryptocurrencies, according to one survey. However, the associated risks and lack of information in their native language are major concerns, the poll found.
Hungarians want to know how crypto profits are taxed and what rules apply to such investments
As global interest in cryptocurrencies has grown over the past few years, a new poll gauges how close Hungary is to the general trend, local media reported. The results of the survey, conducted by Binance, the world’s largest crypto exchange, and market research firm Opinio, were shared with Hungarian news agency MTI.
The survey established that the majority of Hungarians still believe that crypto investments involve higher risks than average. The lack of sufficient information in Hungarian about digital assets is also seen as a problem.
Those wary of cryptocurrencies also highlighted concerns about privacy and that they may not be secure enough as a form of investment.
Respondents who are open to acquiring crypto want to know more about the long-term investment opportunities, how income from such transactions is taxed, and the national and international regulations that apply to the transactions.
The authors of the study found that 86% of participants had never used cryptocurrencies and 4% were considered occasional users. About 3% view crypto assets as a secondary source of income, and 1% view cryptocurrencies as their primary source of income.
The survey also registered that even Hungarians who have stayed away from crypto assets know about Bitcoin. Among cryptocurrency traders, 61% said they prefer to buy Bitcoin (BTC), followed by Ethereum (ETH) investors, who made up 45% of the sample.
A representative online poll was conducted in the first half of December among 1,034 smartphone owners between the ages of 18 and 59, taking into account gender, education, and place of residence in addition to age.
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