OECD Survey Reveals Malaysians Aware of Crypto, Less Awareness of ICOs

Asia Blockchain Review
December 24, 2019

A survey conducted by the Organisation for Economic Co-operation and Development (OECD) has revealed that while a large percentage of Malaysians are aware of cryptocurrencies, less than half of the respondents are aware of initial coin offerings (ICOs).

Exploring Consumer Attitudes for Crypto in Southeast Asia

According to a report by The Edge Markets, OECD has released a survey called “Cryptoassets in Asia – Consumer attitudes, behaviours and experiences,” which involved 3,006 online respondents in Malaysia, the Philippines, and Vietnam.

OECD explained that these three nations were chosen for the survey due to their active crypto market. Though the survey demonstrated that 84% of all Malaysian respondents knew what cryptocurrencies were, only 40% were aware of ICOs.

Meanwhile, the survey revealed that though there was a high level of awareness for cryptocurrencies, only 30% of all respondents from the three countries owned any cryptocurrency. Roughly a third of all respondents in Vietnam and the Philippines owned crypto assets, while only 23% of Malaysian respondents held any crypto.

Positive Outlook for Crypto Assets Among Consumers

The OECD survey also found that in Vietnam, women were more likely to hold crypto assets, with 38% of the women in the survey owning crypto compared to 32% of the men.

However, in Malaysia, men were more likely to own cryptocurrencies, with 26% of the men in the survey having crypto assets compared to 20% of the women. 

Most importantly, the survey reported that in all three nations, consumers held a positive outlook towards cryptocurrency, with 53% stating that they are interested in investing in crypto assets in the future, compared to 30% who are looking to invest in ICOs.

Source: https://www.theedgemarkets.com

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