- Cryptocurrency investments are held by 33% of UAE inhabitants.
- According to the poll, 18% of respondents trust cryptocurrency.
- This comes only a month after Dubai passed new legislation controlling virtual assets.
A poll finds that 33 percent of UAE citizens have already invested in cryptocurrencies after barely a month of Dubai establishing legislation to control virtual assets. In comparison, 30% of people worldwide have invested in this asset class.
According to research, UAE inhabitants are prepared to dedicate 29% of their investable assets to cryptocurrencies, compared to 20% internationally. Toluna, an online market research firm, conducted the survey.
Researchers questioned 500 respondents in the UAE and 9,000 people worldwide, with the target age group being between 18 and 64 years old. Furthermore, 18% of respondents said they believed in cryptocurrency.
Sakina Mannan, Toluna’s senior account director for the Middle East and Africa area, stated.
Despite a cautious approach to investing in cryptocurrencies, the general picture in the UAE reveals that investors are embracing the worldwide trend toward this sort of investment.
According to the survey findings and the country’s strategic business vision, we may expect to witness an increase in interest in cryptocurrencies in the UAE. Mannan elaborated.
Meanwhile, the UAE has reached significant milestones in recent months, with the UAE government ensuring that cryptocurrencies, NFTs, Metaverse, and Web 3.0 in general remain at the forefront of its future plans.
Dubai presented its policies to control virtual assets in March 2022. It also welcomed big cryptocurrency exchanges such as Binance, the world’s largest crypto exchange, FTX, and Bybit. These businesses are now permitted to operate in the UAE or are already doing so.