VISA survey: more than 30% of Hong Kong people hold or use cryptocurrency, second only to the United States

Time:2021-12-27 Source: 1078 views Trending Copy share


VISA, the global credit card payment leader, released a report on the 9th "Cryptocurrency Phenomenon: Consumer Attitudes and Usage". The survey results show that as many as 91% of Hong Kong people in Hong Kong are aware of cryptocurrencies. Among this group of Hong Kong people, about 31% already hold or use cryptocurrencies; 18% of Hong Kong respondents are cryptocurrencies. Of the active holders, 13% are passive holders; this proportion ranks second among the eight surveyed markets, second only to the United States.

Note: Active holders are defined as consumers who use cryptocurrency to send or receive, purchase goods or accept at least one payment; passive holders are defined as those who purchase cryptocurrency as investment but have not transferred , There are no consumers who use cryptocurrency for transactions.

In addition, the majority of respondents (63%) stated that their use of cryptocurrency has increased in the past year. As for the reasons for inspiring more use of cryptocurrency, the survey showed that it is related to wanting to participate in future financial methods (43%) and making the investment portfolio more diversified (32%).

This report is VISA interviewed 6,341 respondents from 8 markets in total from August 25 to September 13, including 3 emerging markets including Argentina, Brazil, and South Africa, as well as Australia, Germany, and Hong Kong. 5 developed markets including the United Kingdom and the United States.

Nearly 1 in 3 respondents globally have been exposed to cryptocurrencies

Overall, in the eight markets surveyed, nearly one-third of the respondents have held or used cryptocurrencies; with the popularity of cryptocurrencies, the demand for using them in transactions has also increased, approximately 81% of cryptocurrency owners expressed interest in cryptocurrency-related cards.

In terms of breakdown, among these 8 markets:

*21% are active holders

*11% are passive holders

*21% are curious

*11% are skeptical, and 37% have no knowledge or indifference to cryptocurrencies.

It is worth noting that VISA pointed out that nearly two-thirds of cryptocurrency users are men: nearly two-thirds of consumers who use cryptocurrency for transactions are men (65% are active holders), and the vast majority Consumers who are completely untouched by cryptocurrency are women (57% untouched). The exception is in Hong Kong, where there is little difference in the degree of participation between the sexes.

Hong Kong people look forward to participating in the future of finance

In response to the survey results, Hong Kong’s South China Morning Post reported that the main reason why Hong Kong people are keen to invest in cryptocurrencies is that they want to participate in future financial methods and diversify their investment portfolios.

Maaike Steinebach, managing director of VISA Hong Kong and Macau, said: As consumers rethink their investment, spending and deposit methods, cryptocurrency is gaining interest not only as a tradable asset, but also as a potential payment medium. Cryptocurrency applications are emerging from growing awareness.

Alice Lau, a Hong Kong person in her 20s who works for a cryptocurrency company, said: I have tried investing in stocks and stock markets, but cryptocurrencies are much more exciting. People think that cryptocurrencies are volatile and risky, but I pay close attention to market trends and do not worry about my investment.

According to previous reports, Hong Kong Securities Regulatory Commission Deputy Chief Executive Liang Fengyi attended the forum on the 3rd and said that the Securities Regulatory Commission and the Financial Services Commission are in close contact to review the relevant regulatory framework for cryptocurrency transactions, including exploring whether to accept cryptocurrency-related ETFs and allowing retail investors. The possibility of investing in cryptocurrencies through online brokers.

At present, Hong Kong's regulatory system is that suppliers of cryptocurrency-related services need to apply for licenses and can only provide services to professional investors. A professional investor is defined as an individual with a portfolio size of more than 8 million Hong Kong dollars (US$1 million), or a company with total assets of more than US$5 million.

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