KUALA LUMPUR (Aug 24): Cryptocurrency adoption in Malaysia has dropped to fifteen% of Malaysian web customers aged 18 and above, from 20% late final 12 months.
In an announcement on Wednesday (Aug 24), Finder.com mentioned its Cryptocurrency Adoption Index confirmed that males are more likely to personal cryptocurrency.
It mentioned 63% of crypto holders are males and simply 37% are ladies.
The agency mentioned Bitcoin remains to be the most well-liked coin amongst Malaysian crypto house owners (35%), adopted by Ethereum (24%).
Cryptocurrency specialist at Finder, James Edwards, mentioned he was not shocked adoption fell given the appreciable drop within the crypto market.
“We noticed enormous drops within the worth of Bitcoin at the beginning of Might and June so it’s not shocking to see a drop in crypto adoption because the finish of final 12 months.
“In different markets like South Africa and the US, we noticed adoption maintain regular and even improve barely, which means that whereas some individuals have bought, others are holding for the long run or could have really purchased cryptocurrency for the primary time at what they take into account to be a reduction,” he mentioned.
Edwards cautioned new buyers that investing in cryptocurrency isn’t for the faint hearted.
“Cryptocurrency is a vastly unstable business and it is best to by no means make investments cash you possibly can’t afford to lose. You must also take note of the price of buying and selling to verify any positive factors aren’t negated by charges you should pay as you purchase and promote.”
Finder.com analysed cryptocurrency exchanges bearing in mind a variety of things like charges, regulation, cash out there and deposit strategies to call Kraken the most effective international cryptocurrency trade.