One in three Dutch people more positive about cryptocurrency
HAARLEM, December 14, 2021- The attitude of Dutch people towards investing in cryptocurrency has become a lot more positive in the past year, according to research by Panelwizard commissioned by BOTS. In addition to a positive attitude, respondents indicated that they expect cryptocurrency to be at least as widely used as traditional money in 5 years' time.
Nearly 20 percent think this way, and of those surveyed, a fifth also indicated that they would be open to having some of their income paid out in cryptocurrency. Digital currencies have been emerging for years as an alternative to traditional investments, and payments. Its popularity is growing partly due to low interest rates and rising inflation. People in the Northern Netherlands, in particular, seem to be even more open to cryptocurrency payments, with 25 percent in this northern region versus only 17 percent in the Western Netherlands.
More information desired from financial institutions
A quarter of respondents indicated that they believe financial institutions provide too little information about cryptocurrency products and services. The Netherlands is known for its strict crypto regulation and banks are also cautious. The attitude of these institutions is often skeptical; when purchasing cryptocurrency, accounts are regularly blocked temporarily to verify that account holders are actually behind the transaction and are aware of the dangers. The benefits of having a broad portfolio, with traditional and new assets such as cryptocurrency to invest with, will rarely be touched upon by these institutions. It is precisely by providing more information and education that we can collectively steer towards responsible investments. One-fifth of those surveyed indicated that they fully understood cryptocurrency.
Not just for young people
Previous research paints the picture that young people between the ages of 18 and 30 are particularly interested in cryptocurrency. However, Panelwizard's research shows that 4 in 10 households with children also invest in digital currencies, half of them between the ages of 30 and 39. In general, households with children are more risk-averse with their finances, which immediately debunks the common argument that cryptocurrency is only used for risk investing.
Algorithmic trading responsible way of investing inh cryptocurrency
The volatility of cryptocurrency is mentioned as one of the high risk factors of investing in it. BOTS has now proven that automatic algorithmic trading through the app minimizes this risk, as there is less emotion and time involved. For example, 66.3% of funded active accounts make a profit and even 85% of BOTS Gold, accounts that deposited at least 10,000 euros.
Click here to see the research factsheet
There is no such thing as risk-free trading. It is possible to lose (part of) your stake.