KUALA LUMPUR – Malaysians make up 12% of new cryptocurrency investors among the 10 million investors over 40 different countries on the international cryptocurrency platform Luno.
The platform saw a 12% rise in traders in the past six months, said Luno Malaysia’s country manager Aaron Tang.
He explained that these investors typically start with a RM100 deposit when they open their account and tend to hold the amount for an average of eight months.
“In 2021, we recorded about 32% of these new customers purchasing Bitcoin while another 23% bought Ethereum,” he added in a statement released recently.
Additionally, Aaron said that there is also a rise of female investors between 2020 and 2021. The note remarked that 2020 showed 16,000 female investors and the numbers increased to more than 120,000 in 2021. This figure shows an increase of more than seven times.
300 million crypto traders and counting
Meanwhile, the statement also revealed that Luno recorded US$2 trillion worth of cryptocurrencies were traded in March this year. The highest recorded market-cap was in November 2021 with a figure of US$3 trillion.
However, January 2022 saw the market decline due to regulation concerns and a challenging macro-economics environment.
Luno’s chief executive officer and co-founder, Marcus Swanepeol remarked that globally, there are roughly 300 million people using crypto as of March 2022.
He is optimistic that the users will further increase as global markets get better access to the crypto ecosystem.
The statement further mentioned that as of March this year, South African users show the most activity and would hold for the longest period of time – an average of 10 months.
Singapore investors were the users showing the highest average deposit value with US$76 over the last 12 months. Nigeria, which is also among the largest markets on the platform, averaged at US$10 for their first deposits.
Since its establishment in 2013, Luno has allowed more than US$52 billion worth of cryptocurrencies to be safely transacted. Its users have stored in excess more than US$1 billion.
The company aims to introduce cryptocurrency to over a billion people worldwide by 2030 with the increasing demand for cryptocurrencies in a number of growing and frontier markets.
Furthermore, their Indonesian customer base increased by 83% last year and provided one million additional South Africans with access to cryptocurrencies for the first time, the statement added.
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