48% of cryptocurrency users no longer invest due to financial instability, while 61% do not want to enter the sector for the same reason
The instability of the cryptocurrency market and the high incidence of scams are reportedly leading to a decline in the interest and courage of investors and enthusiasts in this sector. This is what emerges from Kaspersky’s research, which revealed that 48% of users of financial assets of this type have left the market for fear of losing money — of these, 10% have actually accumulated losses and, therefore, stopped work with mode.
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The digital security company’s numbers also show a high barrier to entry, caused by the same reason. According to the survey, 61% of those interviewed who are not part of this market do not want to enter, precisely because of the risk. Instability, once again, is cited as the main factor turning away investors who may also be interested in cryptocurrencies but end up opting for other safer avenues.
Contrary to what one might imagine, among the barriers to adopting cryptocurrencies as an investment, only 6% of respondents cite the fear of a cyber attack, while a larger share, 14%, criticize the lack of financial support. Stability and security, not only cybernetic but also of return, emerge as key issues for the sector.
Results, however, vary by region of the world. In Asia, for example, 41% of respondents say their expectations when entering the cryptocurrency market have been met, while in Europe this total is 26% of people. However, the overall view appears to be negative, with one in eight respondents, whether users or not, saying they don’t trust digital assets.
“By prioritizing security, cryptocurrency enthusiasts can minimize the risk of losing money or personal data while protecting themselves against threats,” said Marc Rivero, senior security researcher at Kaspersky’s global research and analysis team. In his view, despite the challenges, there is still potential for the segment, as the long-term outlook is encouraging.
Even in a scenario cited as “relatively new and innovative”, Kaspersky already indicates some protective measures, at least as regards cybersecurity. Using strong passwords and keeping an eye out for attacks involving phishing and social engineering is critical to maintaining the protection of your wallet, assets and data; private keys must never be shared, as well as login credentials, always paying attention to the nature of the site where such information is entered.
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Source: Terra
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
