Hong Kong investors investing in cryptocurrencies for only short term: Survey 

Survey findings showed that the majority of Hong Kong crypto investors are only aiming to get profit in the short term and also they are not willing to invest in cryptocurrencies for the long term.

Hong Kong is a special administrative region of China but Hong Kong government agencies always claim Hong Kong as an isolated jurisdiction. In China crypto is fully banned but in Hong Kong people invest in cryptocurrencies with full freedom, as the financial regulators introduced a crypto regulatory framework this year, in order to protect crypto Investors against suspicious crypto activities.

According to a survey conducted by the Department of Applied Social Sciences at the Hong Kong Polytechnic University  aimed to figure out the exact behaviour of cryptocurrency traders in Hong Kong.

The survey report found that nearly 74% of crypto investors are investing in cryptocurrencies because they believe that it is basically a current investment trend and they can make a lot of profit in a short time easily.

75% of the respondents said that they invested in the Crypto assets for the short term & also believe that they will get better returns in the short term. 

Notebely 73% of the respondents admitted that they invest in cryptocurrencies because of the fear of missing an opportunity. In short, they invested in cryptocurrencies because of peer pressure. 

Alongside this behaviour of Crypto investors, the survey noted that there is a lack of knowledge among the investors and probably these investors needed to know more about cryptocurrencies as well as to understand the perfect method of investment management.

Some reports noted that it will take time for the Hong Kong-based population to understand cryptocurrencies because, before June of this year, retail investors were not allowed to invest in cryptocurrencies. So it will take time for people to regain some updated knowledge regarding this innovative sector which is evolving fastly over other financial markets. 

In the last few months, the financial regulators of Hong Kong showed significant action against unregistered & unregulated crypto companies providing crypto services in the Hong Kong jurisdiction.

Read also: Once again Indian Central Bank advocates the “Crypto ban” idea, says no upside of adoption