The main factors influencing the growth in the number of participants in the local digital asset market were the efforts of the UAE authorities to create a favorable atmosphere of crypto regulation, as well as the investment attractiveness of the cryptocurrency industry, believe Bitget Research.
The UAE has the highest statistics of interest in cryptocurrencies. 29% of crypto investors surveyed in a Bitget study believe that digital assets offer a more convenient storage option. Another 34% are cryptocurrency traders, and 22% use tokens for daily payments. The investment preferences of UAE citizens lean towards investing in bitcoins and ether. Since the beginning of 2024, the number of daily crypto traders has reached an average of 500,000, which is 166% more than a year ago.
An analysis of preferences showed that among cryptocurrency wallets, users from the Middle East region highlight Trust Wallet, MetaMask, Phantom, Coinbase Wallet and Bitget Wallet.
Bitget Research attributes the growing numbers to the UAE's convenient channels for depositing and withdrawing funds in local currencies, available to local investors on most global cryptocurrency platforms.
Earlier, Advisor to the President of El Salvador, Max Keiser, shared his assumption that the UAE government is actively investing in bitcoins, and up to 59,000 BTC can be stored on its balance sheets.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
