Hungarians Interested in Investment Potential of Cryptocurrencies, Poll Shows

A survey has indicated that Hungarians would like to learn more about the long-term investment opportunities presented by cryptocurrencies. However, associated risks and insufficient information in their native language are major concerns, according to the polled.

Hungarians Want to Know How Crypto Profits Are Taxed and What Rules Apply to Such Investments

With increased global interest in cryptocurrencies over the past few years, a new poll has gauged how closely Hungary follows the general trend, local media reported. The results of the survey, conducted by the world’s largest crypto exchange, Binance, and market research firm Opinio, were shared with the Hungarian news agency MTI.

The research established that a majority of Hungarians think that crypto investments still come with higher-than-average risks. Another issue they see is the lack of sufficient information in the Hungarian language about the digital assets.

Those who remain wary of cryptocurrencies also highlight their concerns over privacy and fears that they are not secure enough as a form of investment.

Respondents who are open to acquiring crypto would like to know more about long-term investment opportunities, how income earned from such transactions is taxed, and what domestic and international regulations apply to trading.

The authors of the study found that 86% of the participants had never used cryptocurrency, while 4% are considered occasional users. Around 3% view crypto assets as a source of additional income and for 1%, cryptocurrency is the primary source of income.

The survey also registered that even Hungarians who stay away from crypto assets know about Bitcoin. Among cryptocurrency traders, 61%, stated they prefer to buy bitcoin (BTC), followed by investors in ethereum (ETH), who accounted for 45% of the sample.

The representative online poll was conducted in the first half of December, with 1,034 respondents between 18 and 59 who owned a smartphone, and taking into account gender, education, and place of residence, besides age.

What do you think about the results of the survey in Hungary? Share your thoughts in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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