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Survey Unveils Profile of Bitcoin (BTC) and Ethereum (ETH) Holders in Malaysia, Vietnam and the Philippines

dailyhodl.com 22 February 2020 20:00, UTC
Reading time: ~2 m

The Organization for Economic Cooperation and Development (OECD) has released a 62-page report on the behaviors, attitudes, and experiences of crypto holders in Southeast Asia.

The survey shows a number of findings regarding the profiles of people in Malaysia, Vietnam and the Philippines who own cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

Based on a sample of 3,006 online participants, the research reveals that 34% of Millennials, 25 to 34 years old, own cryptocurrencies. The age group represents the highest ownership of crypto assets in the three Asian countries. In addition, 82% of crypto holders have a bachelor’s degree or higher. This is particularly true for the Philippines and Vietnam where at least 88% of participants are highly-educated.

When it comes to gender, it appears there’s no significant statistical difference in crypto ownership between men and women.

The future intentions of crypto owners in the three countries reveal that 53% “would like to hold” their cryptocurrencies as opposed to selling, exchanging or spending. The percentage is significantly higher in Vietnam where 59% of participants prefer to hold their crypto assets.

In terms of their level of understanding of cryptocurrencies, more than 80% do not understand their digital assets very well. According to the survey, only 17% of all respondents replied that they understand cryptocurrencies “very well.” Vietnam has the highest number of respondents who know their digital investments very well at 23%.

The survey also reveals the key driver among crypto enthusiasts: the desire to make a quick buck. The majority of respondents who purchased cryptocurrencies are in it for the fast gains with 41% of the participants across the three countries confirming that they bought cryptocurrencies “to make money quickly.” The finding contrasts with the result showing that 53% prefer to hold their digital assets. Only 32% say that they bought cryptocurrencies for payment or online purchases.

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