Finder.com, an online comparison website, shows that cryptocurrency adoption in Malaysia among internet users aged 18 and above is declining.
Detailing the Cryptocurrency Acceptance Index released by the site, a large number of holders of digital currency assets in Malaysia are men at 63% while women comprise 37%.
Overall, cryptocurrency adoption in Malaysia is down 15% from 20% at the end of last year with Bitcoin (BTC) remaining the most popular coin among locals at 35% followed by Ethereum at 24%.
Finder's digital asset expert James Edwards commented that the data contraction was to be expected as the broader crypto market has seen significant falls since early May and last June.
He also warned that crypto investment is not for those who are 'slightly swayed'.
His argument is that countries in South Africa and the United States (US) where cryptocurrency adoption remains stable suggest that holders make crypto investments for the long term rather than temporary gains.
It is well known that crypto is a very risky, sensitive and less stable industry than other investment markets.
For those factors, Edwards advises investors to pay attention to trading costs to ensure that any profits are not taken away by fees when buying and selling.
