40% of Chinese people would still invest in crypto

29 Dec, 2018
by David Robb
40% of Chinese people would still invest in crypto

A recent survey suggests that investors in China have not been deterred by 2018's crypto bear market. Over 40 percent of Chinese say they would still invest in Bitcoin.

The survey was carried out by Chinese crypto media outlet PANews, as reported by 8btc News. Nearly 100 percent of the people polled had heard of crypto and blockchain in one way or another. Perhaps surprisingly, they were more aware of the concept of cryptocurrencies than they were of Bitcoin itself.

Of the 4980 respondents, 82.8 percent believed that buying cryptocurrencies was still a "trendy" investment. 14.2% of the people polled had already invested in crypto, with most stepping into crypto after the 2017 bull run. 38 percent of respondents got their information and advice about crypto investments from celebrities and influencers in the crypto space.

Confidence in the future of crypto still remains relatively high, with over 40 percent of people polled saying they would still invest in crypto. Asked what put them off investing, 58 percent claimed that it was the complexity of the procedures involved, such as wallets and exchanges, while over 63 percent believed that crypto wasn't necessary as a payment method.

Read more: Survey: 15.8% of Americans who sent money abroad, use cryptocurrency

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Read more about: Bitcoin (BTC)

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