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[Ben Kempton]

The kingdom of Saudi Arabia is one of the richest countries in the world. So, we are expecting the people in there to adopt cryptocurrencies as it could play a significant role in the usage and utilisation of cryptocurrencies in the region. The fact of the matter is that there is a vast majority of people in there who know about what cryptocurrencies are and how cryptocurrencies work. According to some latest survey conducted by the YouGov survey organisation, almost 77 percent people or even more than that are aware of what cryptocurrencies. However, the same survey also reports that almost just 18 percent of people in the country have invested in cryptocurrencies. So, what are your thoughts about this survey? Do you think that the country will become an epitome of cryptocurrency investments?

 

[gammarays]

Saudi Arabia is a progressive Moslem country though not as exposed as the UAE which is becoming a hub for crypto and business globally. I think they're really opening their borders to many new and trending ideas. The rate of crypto adoption in the Arabic regions is very low so it's necessary for countries like Saudi and UAE to take center stage.

 

[Wisdom01]

am glad cryptocurrency development is ringing in that country , because I really want more cryptocurrency development to happen and for that to happen ,there have to be great cryptocurrency development and adoption that would probably aid more growth and sucess in the range people want

 

[achawaskey]

No doubt Saudi Arabia is one of the richest countries in the world. But when it comes to cryptocurrency adoption is still remains low, despite the vast majority of its citizens having knowledge of cryptocurrency does not signify adoption. I look forward to its government putting measures in adopting cryptocurrency so that the 18% of those already investing in cryptos will cause to smile.

 

[BullyMaguire]

In my country i think majority of people knows or maybe about 60% but that's only because an NFT game was popular last year so they have come to know it. And they usually jist associate it with games that you can earn money from.. definitely still lacking compared to Saudi Arabia

 

[Wisdom01]

No doubt Saudi Arabia is one of the richest countries in the world. But when it comes to cryptocurrency adoption is still remains low, despite the vast majority of its citizens having knowledge of cryptocurrency does not signify adoption. I look forward to its government putting measures in adopting cryptocurrency so that the 18% of those already investing in cryptos will cause to smile.

exactly with Saudi Arabia existing as the richest country in the world ,I think they have big business and more employment there , probably many don't consider investing since they have jobs doing ,so they won't see the need of investing to earn more money I think

 

[TAH123]

I'm very happy that crypto is getting familiar in saudi arabia. 77% is a large sum. And Whenever someone in my country hear about crypto, they think it's something bad. I don't even wanna talk about how media represents crypto. If someone buys some illegal weapon or drugs using crypto, then the media would show the news like crypto is a marketplace for illegal stuffs. How idiot human can be!

 

[Skysaint]

Okay, knowing about something is very different from being actively involved in it. So does that mean that they know about cryptocurrency but are not allowed to trade in the cryptocurrency market? Did their government place a ban on transacting in cryptocurrency and are against the idea of trading cryptocurrency?

I hope not because such great enthusiasm is really needed in the cryptocurrency space.

 

[GoldenLady]

The kingdom of Saudi Arabia is one of the richest countries in the world. So, we are expecting the people in there to adopt cryptocurrencies as it could play a significant role in the usage and utilisation of cryptocurrencies in the region. The fact of the matter is that there is a vast majority of people in there who know about what cryptocurrencies are and how cryptocurrencies work. According to some latest survey conducted by the YouGov survey organisation, almost 77 percent people or even more than that are aware of what cryptocurrencies. However, the same survey also reports that almost just 18 percent of people in the country have invested in cryptocurrencies. So, what are your thoughts about this survey? Do you think that the country will become an epitome of cryptocurrency investments?

The widespread knowledge of cryptocurrency is the key here. This shows that there is some level of interest in it. As it is also a hotspot for tourists from other countries, Saudi Arabia could make things easier for visitors if they could transact using crypto without need to change it to fiat.

 

[Ben Kempton]

The widespread knowledge of cryptocurrency is the key here. This shows that there is some level of interest in it. As it is also a hotspot for tourists from other countries, Saudi Arabia could make things easier for visitors if they could transact using crypto without need to change it to fiat.

Well, the great news is that there are many Saudis who have been engaged more and more when it comes to sending and receiving cryptocurrencies, which shows that cryptocurrency transactions are booming in the country. This is what a new study has shown and the study was published by cryptocurrency company known as Chainalysis.

 

[magnus2022]

Saudis Arabia will stick pick more interest in cryptocurrency. As it seems the citizens are comfortable with the way their economy. Majority of them are not looking for ways to make money through cryptocurrency. They are super comfortable . Those that are involved with cryptocurrency is simply out of curiosity and the desire to follow the internet crowd. Moreover, the rate they access information is somehow limited by deep religious sentiment.

 

[Ben Kempton]

Saudis Arabia will stick pick more interest in cryptocurrency. As it seems the citizens are comfortable with the way their economy. Majority of them are not looking for ways to make money through cryptocurrency. They are super comfortable . Those that are involved with cryptocurrency is simply out of curiosity and the desire to follow the internet crowd. Moreover, the rate they access information is somehow limited by deep religious sentiment.

Well, I would like to tell here that cryptocurrencies is permissible in Islam and I am a Muslim myself. I have discussed this issue with many fellow Muslims and many Muslim financial experts believe that Bitcoin trading is permitted if it does not involve usury. I have been dealing in Bitcoins for a long time.

 

[fiery phoenix]

Not exactly an epitome in the crypto industry but their presence will surely be felt.The %investors as compared to the total % who know about crypto shows that many people are still hesitating to invest in it despite having the knowledge.So unless the cause of that hesitation is fixed lets forget about Saudi becoming an epitome of crypto.It might lack of regulation,it might be the unattractive volatility,it might be lack of capital to invest or anything

 

[GioColombia9]

I'm very happy that crypto is getting familiar in saudi arabia. 77% is a large sum. And Whenever someone in my country hear about crypto, they think it's something bad. I don't even wanna talk about how media represents crypto. If someone buys some illegal weapon or drugs using crypto, then the media would show the news like crypto is a marketplace for illegal stuffs. How idiot human can be!

Yes you are right, even in my country very often on television or in newspapers they define cryptocurrencies as something to be avoided and because of that many people (especially the older ones) tend to get scared when a guy talks about cryptocurrencies, instead I appreciate the economic move of some countries like El Salvador that are trying to introduce bitcoins to adult people as well through a gift to each eligible resident by giving them $10 worth of bitcoins on a local wallet, thus educating them on their use and how to avoid getting scammed online.

 

[a_jerobon]

That is such an irony that 77% of people know about crypto currencies but only 18% of them have invested in it. It shows that despite people knowing about them, a large number are still so skeptical about their profitability.

Of which that is common given that crypto currencies are so volatile, you can make huge losses suddenly.

 

[btaliat]

From the analysis, we can conclude that Saudi Arabia can never be an epitome of crypto. The country has more of Muslims that are dogmatic than those that are open to change the status quo. Islam may forbid crypto as many will see it as usury. This is evidently shown on the number of people that partake in it.

 

[Horia_10]

It definitely does according to the believes and doctrines but if a country have their laws in place and people follow them fine still the crypto is allowed in the country and it is upto the people that may want to use the currency or abandon it completely actually as well .

 

[Dagov]

am glad cryptocurrency development is ringing in that country , because I really want more cryptocurrency development to happen and for that to happen ,there have to be great cryptocurrency development and adoption that would probably aid more growth and sucess in the range people want

Although not as exposed as the UAE, which is emerging as a worldwide hub for cryptocurrency and business, Saudi Arabia is a modernizing Muslim nation. They seem to be opening their doors to a lot of fresh and popular concepts. Due to the low adoption rate of cryptocurrencies in the Arabic areas, it is imperative that nations like Saudi Arabia and the United Arab Emirates take the lead.

 

[Dagov]

We can infer from the research that Saudi Arabia cannot be the pinnacle of crypto. Muslims who are dogmatic are more prevalent in the nation than Muslims who are willing to challenge the existing quo. Islam may prohibit cryptocurrency because many people view it as usury. The amount of people who participate clearly demonstrates this.

 

[Wisdom01]

Although not as exposed as the UAE, which is emerging as a worldwide hub for cryptocurrency and business, Saudi Arabia is a modernizing Muslim nation. They seem to be opening their doors to a lot of fresh and popular concepts. Due to the low adoption rate of cryptocurrencies in the Arabic areas, it is imperative that nations like Saudi Arabia and the United Arab Emirates take the lead.

I love the growing interest from these countries ,most especially uae ,it seems they are embarking on some new cryptocurrency projects and Blockchain project in the country , I hope other countries actually takes heed and run through this process too