Crypto news

Referrals Drive 76% of Crypto Investments in Vietnam

According to a report released on August 30 about “Vietnam Crypto” by Kyros Ventures, Coin68, and Animoca Brands, over 75% of Vietnamese crypto holders rely on recommendations or referrals from friends when making investment decisions.

This figure, as revealed in a survey involving 3,300 participants,

is significantly higher than the reported rate in the United States, standing at 2.5 times more.

The study also highlighted the primary sources of information for Vietnamese crypto investors, with self-study, community groups, and media news being the most influential channels.

Additionally, the report revealed that 70% of respondents believed the bear market was either ending or already over,

while 75% expressed a desire for increased regulatory intervention in the crypto sector.

Despite Vietnam ranking as the leading country globally for crypto adoption and second in decentralized finance (DeFi),

with over 19% of adults owning digital assets, the report shed light on the limited presence of blockchain education and infrastructure in the country.

Only nine educational institutions offer blockchain courses, and there are just eight blockchain infrastructure projects in Vietnam.

nearly 90% of participants were involved in decentralized finance (DeFi) activities,

while 70.2% were engaged in GameFi, 73.7% in nonfungible tokens (NFTs), 91% in centralized finance,

and 54.9% in SocialFi.

The survey also highlighted that participants were evenly distributed in their preference for centralized exchanges versus decentralized exchanges,

indicating a balanced interest in both types of platforms.

It is worth noting that the survey did not specify the exact dates,

but the information provided reflects the findings from the recent survey.

Researchers summarized:

“The local tech development and trends also change rapidly in line with the global climate. Indeed, you might recognize there were over a hundred GameFi projects in Vietnam before, and now it is time for the ‘Web3 builder’ wave, especially since GM Vietnam [Vietnam Blockchain Week] 2023.”

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