A recent survey was conducted to find out the extent to which Irish people are interested in crypto. It was found that 1 out of 10 people are crypto investors in Ireland. Well, even though this is not a great stat, the numbers are doable, considering we see fast adoption of crypto. It was also found that the younger generation is more interested in crypto as compared to their elder counterparts.
What makes crypto attractive to Irish people?
If I ask you the same thing, you will probably say returns. So is the case with them. The race to attain higher long-term returns is what making crypto attractive. The survey also found that 56% of the people have shifted online to make investments which means the offline broker business is going down. And 80% of these online investors are in here for long term gains. Out of the total crypto investors, 50% are here because the interest rates in banks are too low. It is so low that the people are not even able to save their money from inflation by keeping it in banks.
Other findings
After all this still, the crypto investors in Ireland are nowhere near the top. The most preferred investment options for people are stocks, with 19% of participants choosing them. And then we have government and corporate bonds at the 2nd most preferred spot. It was also found that the majority of the participants do their investment research online. They read from blogs, financial websites, news sites and even social media before making a decision.
It was also found that online investment is preferred by people mostly below the age of 35. This shows that the younger generation is more liley to go for investments in general and then crypto. At the same time, the older counterparts are into a more traditional approach like through a bank or investment company. It is actually good that if you don’t understand why to go online and mess up your investments. It is not wrong to take the help of a professional investor.
What are your thoughts on the 10% crypto investors in Ireland? And do you think this number is very small but will increase in the future? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: US Senator wants stricter prosecution of criminal use of crypto.