KuCoin's Survey Report Reveals Insights into UAE's Role as a Crypto Hub, With 72% Preference in Bitcoin Investment

VICTORIA, Seychelles--(BUSINESS WIRE)--Oct 31, 2023--

KuCoin is pleased to present the latest survey report “ Into The Cryptoverse: Understanding Crypto Users in the UAE “, the 17th edition of the report series, offering essential insights into the UAE crypto market. This comprehensive report is based on feedback from 597 crypto investors in the UAE, highlighting their pressing need for trust, security, crypto education, and their profound interest in crypto innovation. Moreover, the survey reaffirms the UAE's growing recognition as a cryptocurrency hub.

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KuCoin is pleased to present the latest survey report “Into The Cryptoverse: Understanding Crypto Users in the UAE “, the 17th edition of the report series, offering essential insights into the UAE crypto market. This comprehensive report is based on feedback from crypto investors in the UAE, highlighting their pressing need for trust, security, crypto education, and their profound interest in crypto innovation. Moreover, the survey reaffirms the UAE's growing recognition as a cryptocurrency hub. (Graphic: Business Wire)

Alicia Kao, Managing Director of KuCoin, highlighted the significance of the report, stating, " Our survey has unveiled the pressing needs and aspirations of the UAE's crypto community. Trust, security, and education are at the core of their concerns. This report not only illuminates their preferences but also solidifies the UAE's position as a leader in the crypto revolution, with a dominant 72% preference for Bitcoin and a strong appetite for blockchain and AI integration. The UAE's advantages, including access to funding, a robust financial infrastructure, and a global network, set the stage for the country's crypto industry to flourish."

The key findings of the survey report include:

1. Fostering Trust and Crypto Education: The report reveals that 48% of UAE crypto users express concerns about the lack of trust in crypto platforms, and 32% of respondents cite a lack of crypto education and awareness as the region's top challenge.
2. Prioritizing Security and Customer Support: When choosing a crypto exchange, the report shows that 63% of UAE crypto users prioritize security, while 47% prioritize customer support, highlighting the paramount importance of trust in crypto platform selection.
3. Bitcoin Dominance: With a remarkable 72% preference for Bitcoin among UAE crypto investors, the UAE solidifies its position as a regional leader in crypto adoption.
4. Diverse Crypto Use Cases: The survey showcases a strong appetite among UAE crypto users for real-world applications beyond investment, with 40% expressing a preference for crypto in cross-border remittances and daily transactions, signifying crypto's potential to revolutionize financial interactions in the region.
5. AI and Blockchain Integration: The findings reveal that 62% of UAE crypto users are eager for the integration of AI and blockchain technologies, showcasing the UAE's forward-looking approach to crypto innovation.
6. UAE's Advantages: The report highlights user perceptions regarding the UAE's advantages for crypto industry development, with 53% citing access to funding as the top advantage, closely followed by a robust financial infrastructure and global network, positioning the UAE as an attractive destination for crypto entrepreneurs and businesses seeking growth.

Read the full report on KuCoin blog.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 30 million users in more than 200 countries and regions. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder's 2023 Global Cryptocurrency Trading Platform Awards.

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KEYWORD: AFRICA SEYCHELLES UNITED ARAB EMIRATES MIDDLE EAST

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BLOCKCHAIN TECHNOLOGY CRYPTOCURRENCY FINANCE FINTECH DIGITAL CASH MANAGEMENT/DIGITAL ASSETS

SOURCE: KuCoin

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PUB: 10/31/2023 06:00 AM/DISC: 10/31/2023 06:02 AM

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