‘Saudis Bidding’ Meme Undermined by Crypto Investor Survey
— Undermined, Digital, Report, Survey, Bidding, Investor, Saudis, Meme, Investors, Crypto — 1 min read
KuCoin found sentiment shifting negative among Saudi Arabian crypto investors. 76% of local digital asset holders have less than one year’s experience in the market. Majority of Saudi crypto investors are men, and persons below 30 years of age make up at least one third of all investors. Saudi Arabians are generally investing in cryptocurrency for the long-term, the report found. 42% of crypto investors adopted auto-trading strategies to see them through the bear market, a 7% rise from Q1 to Q2 of 2022. 51% are in crypto as they believe it's the future of finance, while 44% reckon crypto can reap higher returns than other types of financial investments. Saudi-based investors pay close attention to what types of investments are approved under Islamic law Source