Most residents of Latvia do not plan to invest in cryptocurrencies, Delfi reports, citing data from the Swedbank Institute of Finance survey.
According to the study, 88% of respondents have heard of cryptocurrencies, but only 11% understand how they work or have experience using them.
9% expressed a willingness to become investors. Among those surveyed, only 4% invested in digital currencies in the last three years.
The greatest proportion of cryptocurrency purchases was among Latvians with incomes above €1,000. This group also rated their knowledge of how digital currencies work higher than others.
51% of respondents who know about cryptocurrencies are not interested in investments in such assets. Since 2018, this figure has risen by 10%.
47% of Latvians consider cryptocurrency transactions to be speculative deals with a high risk of loss of funds.
At the same time, the number of citizens who consider cryptocurrencies, such as Bitcoin and Ethereum, among the best types of investments has grown—from 5% in 2018 to 9% this year.
Digital currencies are more popular among Latvians aged 18-29. 39% of respondents in this age group believe that cryptocurrencies will change the financial world.
The poll was conducted in April 2021 among 760 Latvians aged 18 to 74.
As reported in a survey of Otkritie Bank, 46% of Russians expect to use digital currencies partially within ten years.
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