Over 40% of society in Poland regards investing in cryptocurrencies as safe. Over 32% of Poles think otherwise, while almost 28% have no opinion on the subject. Digital currency business mainly builds trust among young people with a basic education and a monthly net income of PLN 7000-8999. On the other hand, it is regarded as dangerous especially by seniors, Poles with a higher education and earnings of PLN 1000-2999 net per month. Experts commenting on the study’s results point out the lack of fundamental knowledge about investing among Poles, and highlight the real danger this presents for people wanting to get rich in an unknown market rife with fraudsters, therefore authorities should ensure universal education. Regulations alone are not enough.
According to the recently published ARI10 report, 40.1% of adult Poles believe is safe to invest in cryptocurrencies in Poland. In the opinion of Piotr Kuczyński, economist, and analyst from DI Xelion, those who say so base it on the fact that trading in financial instruments in Poland is regulated by the KNF (Polish Financial Supervision Authority). And the trust they have in the exchange is transferred to the cryptocurrency market, without knowing and understanding it. In the expert’s opinion, only about 10% of Poles have any idea about it.
People need to be aware that when investing in digital currencies, they often risk much more than in traditional markets. At the same time, they have a chance for significantly higher profits, but at the cost of slightly higher risk – says Mateusz Kara, lawyer and cryptocurrency market expert from ARI10.
Jakub Martenka, one of the co-authors of the report, elaborates that the “risk” that often accompanies cryptocurrencies is fraud. However, these fraudsters never offer investments in digital currencies, only promising returns for the invested capital. They work under the guise of investment platforms and are particularly dangerous for newcomers to the market, lacking basic knowledge and exhibiting high trust.
The worst thing is that manipulated victims invest their life savings, and the red light only comes on when the invested money is long since in the fraudsters’ accounts. Therefore, Poles urgently need education about safe investment, not only in cryptocurrencies – alarms Jakub Martenka.
The report shows that investment in cryptocurrencies in Poland is more often considered safe by men than women. Such attitudes are taken mainly by people aged 18 to 24, with a monthly net income of PLN 7000-8999, and basic education. Usually, they are city inhabitants ranging from 200,000 to 499,000 in the population.
Piotr Kuczyński points out that young people have an appetite for risk, are susceptible to slogans of easy and quick earnings, and are ready to make quick decisions, facilitating them to get rich.
More than a third of Poles believe that investing in cryptocurrencies is dangerous. This is often seen by women, people aged 75 to 80, and those with a net monthly income of PLN 1000-2999, and a higher education level. This is more common among residents of cities with 100,000 to 199,000 inhabitants.
The report also indicates that 27.8% of Poles are unable to assess whether investing in cryptocurrencies in Poland is safe. Piotr Kuczyński suggests that this result should be higher, reflecting a lack of general knowledge about cryptocurrencies.
As per experts prognosis, soon a portion of undecided individuals may turn towards cryptocurrencies. This could be due to upcoming regulations and activities. However, according to them, half of the unaware citizens may not delve into the topic and remain neutral towards cryptocurrencies. These individuals will continue focusing more on securing their funds rather than investing.
Source: https://managerplus.pl/ponad-40-polakow-uznaje-inwestowanie-w-kryptowaluty-za-bezpieczne-brak-edukacji-najwiekszym-zagrozeniem-70080
