Bitcoin

<div class="sg-post-des">
  Vietnam is currently among the top countries in the world in terms of crypto adoption. 
</div>
<div class="cointelegraph">
 <p>Over three-quarters of Vietnamese <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="dofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> make investment decisions through friends' <a rel="dofollow" title="referrals" href="https://thebittimes.com/tag/referrals.html">referrals</a>.</p>
 <p>That's according to an Aug. 30 report by Vietnamese venture capital firms Kyros Ventures and Coin68, alongside Animoca Brands. In the 3,300-participant survey, 75.5% of participants admitted being "influenced by recommendations or referrals" regarding crypto investing. The amount is 2.5 times higher than reported in the U.S.</p>
 <p>Self-study, community groups, and media news were the biggest sources of information for Vietnamese crypto investors, with nearly one in two electing such methods.</p>
 <p>The H1 2023 Vietnam Crypto Market Report also found that 70% of respondents believed the bear market was already over or nearing its end. Meanwhile, 75% of respondents desired more regulatory intervention in the crypto sector.</p>
 <p>As per Chainalysis, Vietnam is currently the top country in the world in terms of <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> adoption and second in decentralized finance (DeFi), with over 19% of adults owning digital assets. Despite this, only nine Vietnamese educational institutions provide blockchain courses, and only eight blockchain infrastructure projects are present within the Southeast Asian country.&nbsp;</p>
 <figure>
  <img src="https://cdn.thebittimes.com/images/2023/08/31/056a950d446191da9b5441e492c99485.webp" alt="" title="">
  <figcaption style="text-align: center;">
   <em>Vietnamese crypto users value the self-custodial nature of DEXs alongside the liquidity on centralized exchanges. | Source: Kyros&nbsp;</em>
  </figcaption>
 </figure>
 <p>Nearly 90% of survey respondents engaged in DeFi activities simultaneously to holding crypto, compared to 70.2% for GameFi, 73.7% for nonfungible tokens, 91% for centralized finance, and 54.9% for SocialFi. Participants remain equally distributed between their preference for centralized exchanges compared to decentralized exchanges. Researchers summarized:</p>
 <blockquote>
  "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."
 </blockquote>
 <p><strong><em>Magazine:&nbsp;How to protect your <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> in a volatile market: Bitcoin OGs and experts weigh in</em></strong></p>
 <template data-name="subscription_form" data-type="consulting_newsletter"></template> 
</div>
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/76-of-vietnamese-crypto-holders-invest-based-on-referrals-report-tbt60983.html">https://thebittimes.com/76-of-vietnamese-crypto-holders-invest-based-on-referrals-report-tbt60983.html</a></p>

76% of Vietnamese crypto holders invest based on referrals — Report

TheBitTimes

Other articles published on Aug 30, 2023

Elon Musk's X Social Media Platform Acquires Crypto Payments License

Crypto Exchange OKX Releases 10th Proof-of-Reserve (PoR) Report

Robinhood wallet now supports Bitcoin, Dogecoin and Ether swaps

Daily Analysis: BTC, ETH, SOL, TRB, API3

Tether Turns to Britannia Bank & Trust Amidst US Crypto Banking Struggles

Bitcoin Faces Bearish Activity At $28K As Whales Eye Profits – Will BTC Price Trigger A Wave Of S...

Join our free newsletter for daily crypto updates!