A survey has indicated that Hungarians would like to know more about the long-term investment opportunities that cryptocurrencies present. However, the associated risks and insufficient information in their native language are the main concerns, according to respondents.
Hungarians want to know how crypto earnings are taxed and what rules apply to such investments
With increased global interest in cryptocurrencies in recent years, a new survey has measured how closely Hungary follows the general trend, local media reported. The results of the survey, conducted by the world’s largest cryptocurrency exchange Binance and market research firm Opinio, were shared with the Hungarian news agency MTI.
The research established that most Hungarians think that cryptocurrency investments still carry above-average risks. Another problem they see is the lack of sufficient information in Hungarian about digital assets.
Those who are wary of cryptocurrencies also highlight privacy concerns and fears that they are not secure enough as a form of investment.
Respondents who are open to acquiring cryptocurrencies would like to know more about long-term investment opportunities, how income earned from such transactions is taxed, and what national and international regulations apply to trading.
The study authors found that 86% of the participants had never used cryptocurrency, while 4% considered themselves casual users. Around 3% see crypto assets as an additional source of income and for 1%, cryptocurrency is the main source of income.
The survey also recorded that even Hungarians who stay away from crypto assets are aware of Bitcoin. Among cryptocurrency traders, 61% said they prefer to buy bitcoins (BTC), followed by ethereum investors (ETH), who represented 45% of the sample.
The representative online survey was carried out in the first half of December, with 1,034 respondents between the ages of 18 and 59 who owned a smartphone and taking into account gender, education and place of residence, in addition to age.
What do you think of the results of the survey in Hungary? Share your thoughts in the comments section below.
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