Vietnamese consumers still bullish on crypto

Image credit: Decision Lab

Though the cryptocurrency sector is suffering through a bear market, Vietnamese consumers still have a lot of faith in crypto as an investment product.

In fact, 53% of Vietnamese consumers plan to invest more in crypto over the next 12 months, according to a report from market research company Decision Lab.

See also: Crypto regulation heat map: Where does your country rank?

Perhaps even more surprising is the fact that only 24% intend to put less money into it, with a further 23% planning to invest the same amount as they do now.

Interestingly, crypto is behind only traditional savings as the most popular investment vehicle in the country, with 54% of respondents saying they plan to increase their savings.

Gold is the third-most preferred instrument, with 52% of consumers eyeing to buy more over the next 12 months. The precious metal is traditionally seen as a safe investment option in Vietnam.

The country consistently ranks atop lists for crypto adoption, yet the technology exists in a legal gray area there, with little regulation covering it.