1 in every 10 Irish investors hold cryptocurrency: Competition and Consumer Protection Commission survey

The Irish Competition and Consumer Protection Commission (CCPC) poll, published on September 16, revealed important facets of investment trends among the masses. CCPC is the legal body for promoting compliance and enforcement of consumer competition and protection laws in Ireland.
The survey came to the following results:
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• Information medium:
  
  • 62 percent of the 1,000 people surveyed used the Internet to obtain information about investments. The resources used by these people include online banking or investment websites, financial news websites, blogs, and social media platforms.
  • 38 percent sought advice from a bank or a financial advisor.

• Investment form:
  • More than half, 56 percent of investors, prefer online investments.
  • Online investment options are more popular among those under 35.
    • In the under 35 age group, 36 percent preferred to use a trading platform or a mobile app such as XTB or Etoro
    • 29 percent of this age group use an online financial service provider like Revoult.
    • 22 percent of them preferred to invest through a bank or investment company.
    • 10 percent preferred brokers or agents.
• Popular investment options:
  
  • For 1 in 5 people, stocks are the most popular investment option.
  • The second most popular investment option is government or corporate bonds, which are preferred by 12 percent of Irish investors.
  • 11 percent of investors held digital assets and a quarter of young Irish citizens speculated in cryptocurrencies.
    • The survey shows that more than 1 in 10 Irish investors have invested in one or more crypto assets.
    • Cryptocurrency investors in the 25 to 34 age bracket have grown to 25 percent. This group of investors is most open to savings in bitcoins or other digital coins.
• Investment motivation:
  • 79 percent invested in order to achieve better returns for their money in the long term
  • 46 percent invested due to the current low interest rates.
    • In this 46 percent, 51 percent men invested more than 38 percent women because of low interest rates.
  • 26 percent invested in personal satisfaction
    • 47 percent of them were under 35 who invested in experiments.

Based on the results of the survey, Gráinne Griffin, Director of Communications at CCPC, concluded that Irish citizens switch online both when it comes to investing and looking for information about investing. The survey clearly indicates a transition to digitized investment, especially among the younger Irish population, Griffin said.
For the latest crypto news, investment tips, and real-time price updates, follow our Cryptocurrency page.

source https://www.bisayanews.com/2021/09/19/1-in-every-10-irish-investors-hold-cryptocurrency-competition-and-consumer-protection-commission-survey/