UAE Crypto Insights: 72% Investors Lean Towards Bitcoin

blockchain.news:

KuCoin, a global cryptocurrency exchange, has recently disclosed a survey report, “Into The Cryptoverse: Understanding Crypto Users in the UAE”, which is the 17th edition in its report series. The survey engaged 597 cryptocurrency investors from the UAE, providing vital insights into the indispensable need for trust, security, and crypto education. The findings also reinforce the UAE's emerging recognition as a cryptocurrency hub, with a remarkable 72% preference for Bitcoin among the respondents.

Alicia Kao, the Managing Director of KuCoin, underscored the pivotal insights brought forth by the survey, stating, «Our survey has unveiled the pressing needs and aspirations of the UAE's crypto community. Trust, security, and education are at the core of their concerns.» This survey not only elucidates their preferences but also solidifies the UAE's standing as a forerunner in the crypto revolution, with a pronounced 72% preference for Bitcoin and a robust enthusiasm for blockchain and AI integration. The UAE’s conducive environment, including access to funding, a robust financial infrastructure, and global networking, lays a fertile ground for the burgeoning crypto industry.

One of the critical aspects revealed by the survey is the concern regarding trust and crypto education. About 48% of UAE crypto users expressed concerns about the lack of trust in crypto platforms, and 32% of respondents identified a deficiency in crypto education and awareness as a significant challenge in the region. This reflects a pressing need for fostering trust and enhancing educational outreach in the crypto domain.

When it comes to choosing a crypto exchange, the elements of security and customer support stand paramount. The data shows that