S. Africa, Malaysia, Indonesia Outpace Europe in Crypto Awareness and Ownership

[UconBit]

The three emerging markets of Indonesia, Malaysia and South Africa enjoyed varying levels of cryptocurrency ownership at 40%, 39% and 29% respectively. The respective levels of familiarity were 63%, 57% and 69%, according to the study. In contrast, the best-performing European market in the survey was the Netherlands where cryptocurrency ownership was at 27% while the level of cryptocurrency familiarity was at 39%.

In Germany, the level of cryptocurrency familiarity was 49% while cryptocurrency ownership was at 9%. France fared slightly better with the level of cryptocurrency familiarity being 37% while cryptocurrency ownership was at 19%. In Italy, the level of cryptocurrency familiarity was 50% while the percentage of people who owned cryptocurrencies was 14%.

Does this actually mean that Europeans are less aware or knowledgeable about cryptocurrency? Or knowledge is the reason why they are wary of getting into cryptocurrency?

[davis196]

Can this statistical data be verified in some way?
We all know that Asia is the most crypto-friendly continent,followed by North America and Europe at the third place,but I don't trust the numbers from that survey.Do you really believe that 40% of all indonesians own cryptocurrencies?

[dothebeats]

Can this statistical data be verified in some way?
We all know that Asia is the most crypto-friendly continent,followed by North America and Europe at the third place,but I don't trust the numbers from that survey.Do you really believe that 40% of all indonesians own cryptocurrencies?

Nah, it's just 1000 respondents since it will be very unlikely that 100+ million Indonesians own cryptocurrencies. If so, imagine the volume and the movement coming in from Indonesia alone.

While Europe and North America tend to do most of the ambitious and successful projects and startups in the crypto industry, the sheer population of Asia alone makes the ownership of and awareness about cryptocurrencies reasonably high. Also, knowing that some Asian countries belong to the third-world country classification, it's normal that people try to branch out into other realms and media wherein they can make money on the side, and cryptocurrencies are the closest and easiest thing there is to get their hands on.

[samsul1234]

The three emerging markets of Indonesia, Malaysia and South Africa enjoyed varying levels of cryptocurrency ownership at 40%, 39% and 29% respectively. The respective levels of familiarity were 63%, 57% and 69%, according to the study. In contrast, the best-performing European market in the survey was the Netherlands where cryptocurrency ownership was at 27% while the level of cryptocurrency familiarity was at 39%.

In Germany, the level of cryptocurrency familiarity was 49% while cryptocurrency ownership was at 9%. France fared slightly better with the level of cryptocurrency familiarity being 37% while cryptocurrency ownership was at 19%. In Italy, the level of cryptocurrency familiarity was 50% while the percentage of people who owned cryptocurrencies was 14%.

Does this actually mean that Europeans are less aware or knowledgeable about cryptocurrency? Or knowledge is the reason why they are wary of getting into cryptocurrency?

I doubt this statistic if in Indonesia it has 40% cryto them, and why Indonesian people do not make it like the current ico projects and why Indonesia does not dominate crypto prices now, instead it dominates the crypto prices of most Europeans

[kryptqnick]

Can this statistical data be verified in some way?
We all know that Asia is the most crypto-friendly continent,followed by North America and Europe at the third place,but I don't trust the numbers from that survey.Do you really believe that 40% of all indonesians own cryptocurrencies?

Nah, it's just 1000 respondents since it will be very unlikely that 100+ million Indonesians own cryptocurrencies. If so, imagine the volume and the movement coming in from Indonesia alone.

Yeah, we had a similar thing in Ukraine. 1k people responded in the poll (Ukrainian population is around 40 million people) with 72% being aware of what cryptos are and 13% owning them. While there are literally dozens of exchanges of top cryptos to fiat bank account in Ukraine, I am pretty sure that the majority of people never even heard the term and 13% of people totally don't use them. Look at it this way: 13% of the population is 5.2 million and, according to that data, 98% own bitcoin. This will make about 5 million Ukrainians using bitcoin. There are only 28 million bitcoin wallets. 18% of all bitcoin wallets are Ukrainian? That's ridiculous and the same holds for any of these polls about any countries. We make terrible mistakes when we extrapolate such data on the total population and thus it's really hard to determine whether people outside Europe use cryptos more than in Europe.

[Direwolve735]

Yeah, we had a similar thing in Ukraine. 1k people responded in the poll (Ukrainian population is around 40 million people) with 72% being aware of what cryptos are and 13% owning them. While there are literally dozens of exchanges of top cryptos to fiat bank account in Ukraine, I am pretty sure that the majority of people never even heard the term and 13% of people totally don't use them. Look at it this way: 13% of the population is 5.2 million and, according to that data, 98% own bitcoin. This will make about 5 million Ukrainians using bitcoin. There are only 28 million bitcoin wallets. 18% of all bitcoin wallets are Ukrainian? That's ridiculous and the same holds for any of these polls about any countries. We make terrible mistakes when we extrapolate such data on the total population and thus it's really hard to determine whether people outside Europe use cryptos more than in Europe.

I found the results of this “research” and I believe that they in no way reflect the real situation in Ukraine. Firstly, the age of the respondents is too limited (18-55 years). If the older generation (65+) were analyzed, the results would be different, since the majority of such people in Ukraine don`t even use the Internet, not to mention knowing about cryptocurrencies.

Secondly, only Internet users took part in the survey, which indicates the specifics of the sample. Given the number of pop-up ads on various sites (including dedicated to cryptocurrency, bitcoin, blockchain), we can conclude that those who actively use the Internet really came across these names and have some knowledge of what cryptocurrencies are. But! (thirdly), the depth of knowledge of the respondents isn`t taken into account. For most people, they are extremely superficial, which makes fallacious their inclusion in these 72% of "Ukrainians who know what cryptocurrency is".

[stompix]

Nah, it's just 1000 respondents since it will be very unlikely that 100+ million Indonesians own cryptocurrencies. If so, imagine the volume and the movement coming in from Indonesia alone.

Yeah, another crappy survey from the masters of crappy surveys Luno.
If anybody wonders why South Africa scored that high, well, the ones doing the survey are based in South Africa  
Even if we somehow ignore the possibility of them being totally biased like they were in the past , check the numbers:

69% are familiar with cryptocurrencies, common that's higher than bitcointalk  
Those in the West part of the country are most familiar (71%), do they have no shame???
29% own a cryptocurrency
Hmm, that would mean close to 20 million owners in SA alone, since they also mostly poses bitcoin and another 1/4 of them actively make transactions via the blockchain it means that almost all of the txt are made by south africans ))))

Anyhow, 1 million people owning 100 satoshis is the same as 1 guy owning a bitcoin.

Yeah, we had a similar thing in Ukraine. 1k people responded in the poll (Ukrainian population is around 40 million people) with 72% being aware of what cryptos are and 13% owning them. While there are literally dozens of exchanges of top cryptos to fiat bank account in Ukraine, I am pretty sure that the majority of people never even heard the term and 13% of people totally don't use them. Look at it this way: 13% of the population is 5.2 million and, according to that data, 98% own bitcoin. This will make about 5 million Ukrainians using bitcoin. There are only 28 million bitcoin wallets. 18% of all bitcoin wallets are Ukrainian? That's ridiculous and the same holds for any of these polls about any countries. We make terrible mistakes when we extrapolate such data on the total population and thus it's really hard to determine whether people outside Europe use cryptos more than in Europe.

Exactly this!
The last time I counted the so-called bitcoin owners via the percentages the survey gave I ended up with more owners that all the txs in the chain  

[The Sceptical Chymist]

I found the results of this “research” and I believe that they in no way reflect the real situation in Ukraine. <snip>

I have a very hard time believing these numbers overall, but I'm very skeptical anyway when it comes to polls and surveys.  Those levels of "cryptocurrency ownership" seem to be way too high.  I don't think 19% of the French population owns some sort of crypto, but I could be mistaken, and the numbers for the emerging market countries seem unbelievably high.

I never trust the news when it comes to statistics or medical reporting, and I seldom trust news sources about much in general.  There's too many garbage news outlets on the internet today spouting "facts" and numbers that they've just freshly pulled out of their asses, and I've tuned them out. 

[arbifahrozy]

in my opinion the height of intimacy in the Asian continent is high due to the factors of developing countries and tend to support with something new. we can see developing countries have a very high level of curiosity about crypto.

[Twentyonepaylots]

in my opinion the height of intimacy in the Asian continent is high due to the factors of developing countries and tend to support with something new. we can see developing countries have a very high level of curiosity about crypto.

    We can not just compare one region to another without the demographic data supported, we have different culture to talk with, the values, belief, even  the behavior, one would be more aggressive to very slow, one would be more reserved than to vulgar, one would be more Patient than to reactive person, remember market is Volatile, it is unpredictable, one should only invest what he can afford to loss if the market goes wrong or drops. maybe the statistical data need to be presented for more active discussion.

[Direwolve735]

I'm very skeptical anyway when it comes to polls and surveys.
I never trust the news when it comes to statistics.

I`m not so resolute about social surveys and statistics, although I agree that the news feed is often littered with untruthful and low-quality research. However, I still believe that if the correct parameters are set (sample, socio-demographic data which represents a particular social group), the indicators can be very interesting and actually demonstrate certain trends. For example, the political sphere couldn`t survive without an analysis of social attitudes and preferences, which are possible precisely through polls and surveys.

[aoluain]

I can probanly believe this in general terms. In economically developing
countries bitcoin can be adopted more so than Eurooeans currently do.
The developed ciuntries may be a bit conservative towards bitcoin and
crypto whereas the likes of s.african, malaysian and indonesian people
are willing to adopt the ideas of crypto and are more open to it.
We already know that asia is growing into a leader into blockchain technology.

[Osayo]

The three emerging markets of Indonesia, Malaysia and South Africa enjoyed varying levels of cryptocurrency ownership at 40%, 39% and 29% respectively. The respective levels of familiarity were 63%, 57% and 69%, according to the study. In contrast, the best-performing European market in the survey was the Netherlands where cryptocurrency ownership was at 27% while the level of cryptocurrency familiarity was at 39%.

In Germany, the level of cryptocurrency familiarity was 49% while cryptocurrency ownership was at 9%. France fared slightly better with the level of cryptocurrency familiarity being 37% while cryptocurrency ownership was at 19%. In Italy, the level of cryptocurrency familiarity was 50% while the percentage of people who owned cryptocurrencies was 14%.

Does this actually mean that Europeans are less aware or knowledgeable about cryptocurrency? Or knowledge is the reason why they are wary of getting into cryptocurrency?

Please where is this studies actually coming from? I think an important country is missing here which is India. In terms of awareness and ownership, Indians are well ahead of Indonesia. I am also not to sure of South Africa being included in the top list.

[kzozenberg]

Can this statistical data be verified in some way?
We all know that Asia is the most crypto-friendly continent,followed by North America and Europe at the third place,but I don't trust the numbers from that survey.Do you really believe that 40% of all indonesians own cryptocurrencies?

I also agree with your opinion, I do not think that 40% of cryptocurrency can refer to Indonesia. The Asian continent is a leader in this direction.

[Indrawan77]

The three emerging markets of Indonesia, Malaysia and South Africa enjoyed varying levels of cryptocurrency ownership at 40%, 39% and 29% respectively. The respective levels of familiarity were 63%, 57% and 69%, according to the study. In contrast, the best-performing European market in the survey was the Netherlands where cryptocurrency ownership was at 27% while the level of cryptocurrency familiarity was at 39%.

In Germany, the level of cryptocurrency familiarity was 49% while cryptocurrency ownership was at 9%. France fared slightly better with the level of cryptocurrency familiarity being 37% while cryptocurrency ownership was at 19%. In Italy, the level of cryptocurrency familiarity was 50% while the percentage of people who owned cryptocurrencies was 14%.

Does this actually mean that Europeans are less aware or knowledgeable about cryptocurrency? Or knowledge is the reason why they are wary of getting into cryptocurrency?

Please where is this studies actually coming from? I think an important country is missing here which is India. In terms of awareness and ownership, Indians are well ahead of Indonesia. I am also not to sure of South Africa being included in the top list.

But from what I heard India was banning crypto, so it cant be included, and I agree that the percentage is too high, its only small portion of Indonesia really engage and invest in crypto, in Asia crypto is very popular, and crypto is more popular in third world countries and developing countries, for Europe the investors prefer the stock, they prefer more traditional investment

[Baofeng]

Yes, sample size is too small to reflect the overall sentiments of countries mentioned. So its looks like its far from the truth to say the least. Only thing worth mentioning though about Indonesia is how big their community here, similar to other countries in Asia like Philippines, but it doesn't mean that the country pegged around 40% awareness though. Its too big and I can't imagine how crypto scene will be in Indonesia if that statistic is correct.

[Renaldi blackspadeteam]

It seems like this is the news of FUD, because in Indonesia, the government prohibits cryptocurrency for payments in Indonesia and I find it strange to hear that because in Indonesia there are still many people who do not understand crypto, on the official market crypto indonesia (indodax.com) there are only millions of people who trade there

[Sengoko]

The three emerging markets of Indonesia, Malaysia and South Africa enjoyed varying levels of cryptocurrency ownership at 40%, 39% and 29% respectively. The respective levels of familiarity were 63%, 57% and 69%, according to the study. In contrast, the best-performing European market in the survey was the Netherlands where cryptocurrency ownership was at 27% while the level of cryptocurrency familiarity was at 39%.

In Germany, the level of cryptocurrency familiarity was 49% while cryptocurrency ownership was at 9%. France fared slightly better with the level of cryptocurrency familiarity being 37% while cryptocurrency ownership was at 19%. In Italy, the level of cryptocurrency familiarity was 50% while the percentage of people who owned cryptocurrencies was 14%.

Does this actually mean that Europeans are less aware or knowledgeable about cryptocurrency? Or knowledge is the reason why they are wary of getting into cryptocurrency?

They know much about it. Not owning a cryptocurrency doesn’t mean that people don’t know about, a lot of people knows about Cryptocurrency but they are just not interested in it. Everyone knows what will actually work for them, so making use of cryptocurrency is not something everyone should do, I have a lot of friends that are not into cryptocurrency and they doing just fine and making a lot of money from their business.

[wuvdoll]

I understand that developing countries are more interested in crypto than developed countries but that is mainly for two reasons. One, their money doesn't worth as much as the euros and pounds and dollars of the world which means they are trying to make more money from the small movements, for example money of Ukraine is 27 to 1 last time I checked against the dollar, which means if the price moves 10 dollars for bitcoin to dollar it moves 270 for bitcoin to Ukrainian money.

Same with all these developing countries, they can take advantage a lot more from the small movements. Plus, the 10% in Germany is putting up more money than the 20%-30% in some third world country because Germans putting up couple million euros is bigger than some other third world country putting up couple million of their own money which probably worth couple hundred thousand euros at most.

[Direwolve735]

I understand that developing countries are more interested in crypto than developed countries but that is mainly for two reasons. One, their money doesn't worth as much as the euros and pounds and dollars of the world which means they are trying to make more money from the small movements, for example money of Ukraine is 27 to 1 last time I checked against the dollar, which means if the price moves 10 dollars for bitcoin to dollar it moves 270 for bitcoin to Ukrainian money.

It doesn`t work that way. At least, when it comes to Ukraine, I can assure you that almost all goods and services are tied to the dollar, which means that their price changes almost every day due to constant fluctuations in the hryvnia-dollar rate. Therefore, cryptocurrencies aren`t an opportunity "to make more money from the small movements", this is an opportunity, first of all, to just earn (given the growing unemployment rate in Ukraine, cryptocurrencies become a chance to receive at least some money).

In addition, many people use cryptocurrencies not as a means of living, but as a way of saving. The national currency is extremely unstable (high inflation, dependence on political events). Cryptocurrency not only correlates with the dollar rate (not the hryvnia), but also are a more reliable means for investment by itself.