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A recent survey by Chinese magazine PANews revealed that among 4,200 Chinese participants, at least one in seven invested in cryptocurrency.
PANews, a Chinese news publisher, also found that among the respondents, only 75 of them had never heard of cryptocurrency or blockchain technology. This equates to around 2% of the participants. To increase the popularity of cryptocurrency in China, about 98% of those questioned said they had heard of Bitcoin.
While 82% of the participants recognized cryptocurrency as a new investment trend, only 14% of them actually invested in crypto. This shows that, despite being a source of attention, people are still skeptical about investments.
It is interesting to note that almost 70% of those who invested in crypts noticed that they did so through the use of an exchange, while about 266 people entered the space through flights and another 263 reported that Mining was an entry to the crypt.
Recently, Coin Rivet reported on how the lack of education is often cited by people as a reason why they have not yet invested in the crypt, and this was mentioned in the PANews survey.
It is reported that 4,125 respondents were familiar with the concepts of cryptocurrency and blockchain, but only 372 individuals (about 9%) said they had a strong understanding of these subjects.
Perhaps not surprisingly, the survey also suggests that the 2017 bull market has attracted many people to invest in cryptocurrency.
One of the survey questions asked what factors prevent potential investors from entering the market. According to the survey, about 58% of the participants believe that the main reason behind the obstacle is that the use of a portfolio or an exchange is too complicated.
Almost 40% of respondents (1,665 people) said they would invest in crypto in the future.
It seems that while cryptocurrency and blockchain technology are gathering support and recognition around the world, people are still reluctant to invest in what they do not understand or perceive as complicated to use. However, this should not detract from the many positive aspects of the survey, and the knowledge and understanding of space is clearly spreading.
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