But do Italians trust cryptocurrencies, so dancers in quotations? A survey conducted by the online multi-asset investment platform eToro shows that Italians are considering increasing their investments in crypto-assets because they believe in the future of this technology.
The survey was conducted on a sample of 2000 respondents, representative of the Italian population. 80% said they know the basic concepts of crypto and blockchain. Among these, 55% expressed a favorable opinion, believing that the technology is of interest to them or even represents the future. On the other hand, only a third of respondents have a negative opinion and consider crypto a trend of the moment or worse, a scam. 10% of the sample drew a demarcation between blockchain, viewed in a positive light, and crypto assets, mostly associated with cryptocurrencies.
Of the people who believe they are familiar with the topic, 20% said they currently invest in cryptocurrencies, a further 12% said they have invested in the past, while 42% are considering investing in the near future, despite the survey being was conducted in a very volatile period for this asset.
The increase in investments is not just about the number of investors. Indeed, the survey showed that 60% of the participants familiar with the topic intend to increase the average amount of their investments; a value that is currently expected on amounts of less than 1000 euros (for about 70%). In support of these investment choices there is the fact that cryptocurrencies are considered a tool to diversify the portfolio (43%), while a good part of the sample is attracted by the earning potential or does not want to miss what they consider an opportunity. .
Looking at the share of the sample who declares that they have no intention of investing in crypto-assets (26%), the data collected show a series of deterrents, such as: the lack of full confidence in their knowledge on the subject (22%), the perception not to feel totally safe investing in these instruments (19%) or, simply, the fact that this asset class is characterized by an excess of market volatility (18%). The lack of regulation represents a brake for 10% of the sample.
Note that only 11% of respondents familiar with the topic differentiated their opinion based on specific references that separate crypto assets and blockchain technology. These respondents are part of that portion of the sample that has a negative view, which, however, they attribute only to crypto, while they consider blockchain technology in a different light.
Emanuela Manor, Regional manager Italy of eToro, comments: “One of the fundamental principles in the investment process is to choose assets that you know. As the survey shows, one element that prevents people from investing in crypto-assets is the fact of not having sufficient knowledge of the subject, despite having some familiarity with the subject. ”And he adds:“ The blockchain is arousing the interest of people and investors, even beyond Bitcoin. In eToro’s registered user portfolios we are seeing a trend towards diversification and it is important for investors to have access to these assets. However, it is equally important that people understand what they are investing in. We are working to provide wider access to crypto assets and clearer information. Social investing is a very significant tool that allows investors to learn from each other and to gather relevant information, helping them to have a better understanding of the characteristics of the underlying. “
eToro was founded in 2007 and describes itself as follows: “We have the ambition to open global markets to everyone by making it possible for anyone to trade and invest in a simple and transparent way. The eToro platform allows people to invest in the financial assets they want, from stocks to commodities to crypto-assets. We are a community of over 20 million registered users who share their investment strategies and where everyone can follow the investment lines of those who have been most successful. Thanks to the simplicity of the platform, users can buy, sell and manage their investments in a simple way and monitor their portfolio in real time, as well as being able to operate at any time of the day “.
Although the information available is generally evaluated as complex, the results of the survey show a clear interest in this type of technology, considered a key element of future development, so much so as to fuel the desire to invest directly in crypto-assets or to increase the capital currently allocated. All this despite the survey being conducted in a very volatile period for these instruments. In support of these investment choices there is the fact that cryptocurrencies are considered, above all, a valid alternative to diversify the portfolio (43%), while a good part of the sample is attracted by the earning potential or does not want to miss what consider an opportunity.
Looking at the share of the sample who declares that they have no intention of investing in crypto-assets (26%), the data collected show a series of deterrents, such as: the lack of full confidence in their knowledge on the subject (22%), the perception not to feel totally safe investing in these instruments (19%) or, simply, the fact that this asset class is characterized by an excess of market volatility (18%). The absence of regulation represents a brake for 10% of the sample.
Emanuela Manor, Regional manager Italy of eToro, commented: “One of the fundamental principles in the investment process is to choose assets that you know. As the survey shows, one element that prevents people from investing in crypto-assets is the fact of not having sufficient knowledge of the subject, despite having some familiarity with the subject. The blockchain is arousing the interest of people and investors, even beyond Bitcoin. In the portfolios of registered users of eToro we are seeing a trend towards diversification and it is important for investors to have access to these assets. However, it is equally important that people understand what they are investing in. We are working to provide wider access to crypto assets and clearer information. Social investing is a very useful tool. meaningful that allows investors to learn from each other and to gather relevant information by helping them to have a better understanding of the characteristics of the underlying “.