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Majority Of Omani Bitcoiners Are College Going Students

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Jan 17, 2023

Crypto Interest in Oman

Oman is a country of Arabs yet it falls within the Western Asian region. It shares borders mainly with countries such as Iran, Pakistan, UAE, Yemen, and Saudi Arabia.

It has a population of less than 5 million and ranks fifth in the world in housing ex-pats and offers them jobs. Like most Arab countries, Oman is also an oil-rich country which is one of its major sources of revenue generation.

However, amongst 5 million of its population, only 65,000 Omanis are crypto holders which has been revealed in a recent survey.

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Amongst these 65,000 Omani crypto holders, approximately 90% are aged 18 to 44.

This sheds light on two major promising aspects that are originating from the gulf area.

The first aspect is that the people in the gulf are attracted to cryptocurrencies. They want to adopt cryptocurrencies just like others from all over the world.

The research shows that it is the youngsters in the gulf areas that are more attracted to cryptocurrencies than others.

Oman’s Crypto Interest Survey by Souq Analyst

A survey was recently carried out by a firm called “Souq Analyst” which was based on crypto interest in the Sultanate of Oman.

The findings of Souq Analyst’s survey revealed that approximately 2% of Omanis in the age group 18 to 44 are crypto holders. 2% population of Oman means approximately a total of more than 65,000 Omanis.

As compared to other Arab countries as well as Asian countries, crypto interest in Oman is relatively low considering the country’s population.

High Level of Crypto Awareness

In contrast to this, the survey however reveals that the ratio of crypto awareness in Oman is much higher and more significant.

The survey explains that approximately 98% of adult Omanis are aware of cryptocurrencies. Not only the entire adult population of Oman has heard about cryptocurrencies but also they are familiar with their concept.

The majority of Omani Crypto Holders Are College Going Students

For the purposes of the survey, more than 200 Omanis were surveyed and questioned regarding cryptocurrencies by Souq Analyst.

Their survey revealed to Souq Analyst that the majority of Omani crypto holders are well-educated.

For instance, the findings show that over 66% of Omani crypto holders are either college-going students or those who have graduated.

Furthermore, the findings also show that over 25% of the surveyed individuals have already graduated from their high schools.

Hence, the survey suggests that cryptocurrencies are dealing with the majority of young and educated lot in Oman.

Popular Cryptocurrencies in Oman

As regards the popular cryptocurrencies in Oman, the survey’s findings were almost similar to what one would find in any other country of the world.

Omani crypto holders have an appetite for major and leading cryptocurrencies such as Bitcoin and Ethereum. This is in line with most Arab countries as well as the rest of the world.

For instance, 55% of crypto holders in Oman are owners of Bitcoins. While a little less than 50% of them own a second lead coin i.e. Ethereum. Hence, the majority of Omani crypto holders are actually Bitcoiners.

The second majority of crypto holders is comprised of Ethereum holders. While the third majority belongs to Tether (i.e. a stablecoin) which represents 25% of the total surveyed residents of Oman.

Crypto Yields

The surveyed Omanis were even questioned about the values of cryptocurrencies, particularly their decline throughout the past year.

Approximately 12% of the surveyed individuals told Souq Analyst that their crypto holdings’ value has increased enormously up to $26,000.

Amongst them, 35% (i.e. the majority) were those whose crypto stashes comprised assets worth less than $260.

Souq Analyst’s founder, Mohammed Al-Tamami, appreciated the findings revealed by the survey regarding crypto interest in Oman.

He said that findings would come in handy for everyone and may attract the interest of crypto firms in Oman.

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