• Tue. Feb 27th, 2024

Crypto Adoption Dwindled In Ireland By 16% Within A Year: Survey

Deborah Brown

ByDeborah Brown

Aug 25, 2022

A recent survey by Finder.com, a crypto analytic firm, showed a slight decrease in the number of crypto enthusiasts in Ireland. Comparing 2021 and 2022 survey reports indicated that the rate of Irish crypto investors has dropped by 16%.

Ireland Adult Shows Lesser Interest In Crypto This Year Than In 2022

According to the data from Finder.com, a lesser number of Ireland citizens engage in crypto activities this year than last year. Last year’s records showed that 12% of respondents hold cryptos; however, 2020 data shows that 10% of respondents have cryptos.

Furthermore, James Edwards, a Blockchain expert at Finder.com, commented on the survey report. He stated that the reduction rate was relatively lower than what they were expecting, given the bearish state of the market. 

Edwards admitted that he had expected to see a massive decline in crypto engagement in the country since May and June market crashes. However, he said that the low rate shows people are still holding up on their digital assets. 

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Edwards also suggested that as the market continues to dip, some investors are selling their assets while others are buying the dip from them in silence. 

Males Dominate Crypto Market In Ireland and Worldwide

Additionally, the research pointed out that the ratio of Irish male investors to Irish female investors is wide apart. 

It showed that males heavily dominated as they occupy about 72% of the total investors in the country. Nonetheless, the wide gap between the two gender dominance in the country only aligns with that of the world. 

Because statistics showed that males dominated the entire crypto space; however, recent data showed the order might change soon as numerous firms adopt crypto worldwide. 

Furthermore, a survey carried out by BTCM, an analytic firm, showed that the rate of women in the crypto space increased by 126% in 2021. As shown by statistics, most crypto enthusiasts (35%) in Ireland hold Bitcoin; 26% of them claim to have Dogecoin, while about 26% are in possession of Ethereum.

Overall, the crypto industry seems to be thriving in Ireland as many startups have established themselves there. For instance, Binance built four branches in the group between October and November last year.

Meanwhile, Gemini, another prominent crypto exchange, obtained its license for operation from Ireland’s regulators in July 2022. Following that, Kraken exchange has its European headquarters in Ireland. Ripple, on the other hand, continues to dissipate its crypto services to Ireland users despite being under the lawsuit.

Deborah Brown

Deborah Brown

Deborah Brown is a skilled and experienced news writer recognized for her insightful reporting and captivating storytelling. With a dedication to accuracy and a knack for engaging readers, her articles provide a fresh and informed perspective on current events.

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