- 268,000 people invest in digital assets
- This is almost half the average level of adoption of cryptocurrencies in the world.
Residents of Portugal are taking a cautious approach to digital assets, although in general the cryptocurrency industry in the country is growing. Local media The Portugal News informsthat about 268,000 people are actively investing in digital currencies in Portugal, which is approximately 2.6% of the country’s population. Although this indicates progress, the number of investors in crypto assets is half the world average. It is obvious that the population is cautious about crypto-investments.
A particular contrast is noticeable in comparison with countries such as the UAE, India, China and the United States, where the majority of citizens are investors in digital assets.
Portugal has seen a steady rise in crypto investments, driven by technological advances, low taxes on cryptocurrencies, the relocation of web3 companies, and the growing acceptance of cryptocurrencies as an effective form of investment.
Apart from this, Portugal continues to be a leading country in the field of taxation of cryptocurrencies, having adopted new rules for cryptoassets, which came into force on January 1, 2023 after much discussion by the government. These laws clarify and reflect the unique characteristics of the country compared to the broad global tax regulation of cryptocurrencies.
Despite promising factors, the low number of crypto investors indicates a certain caution among the local population. A favorable environment for cryptocurrencies can encourage the growth of crypto-currency startups and be beneficial for technology-savvy and educated individuals. But for now, the majority of the population remains in the background, perhaps due to a lack of awareness and understanding of the risks and benefits associated with digital assets.
By the way, in May 2023, the number of cryptocurrency owners reached 420 million. This is approximately 4.2% of the total population.