Turkish cryptocurrency investors surge 12%

As it spotlights investors and businesses looking into potential in the Turkish cryptocurrency market, KuCoin’s recent research offers insightful information for those interested in the cryptocurrency industry.

Particularly, the report produces some solid facts. First, there has been a large increase in crypto investors among Turkish adults: 52% of Turkish people currently invest in cryptocurrencies, with young women driving this expansion.

According to the survey, there has been a considerable growth in adult Turkish cryptocurrency investors over the previous 18 months, from 40% to 52%. Although male investors still outnumber female investors by a margin of 57%, female engagement is seen, particularly among the younger generation.

The gender gap in cryptocurrency adoption is closing, with nearly half (47%) of investors between the ages of 18 and 30 being female.

Only 37% of all bitcoin investors are women over the age of 45, though.

Cryptocurrency growth is driven by younger generations

The expansion of cryptocurrency is being driven by younger generations, as follows: In the most recent quarter, 31% of investors entered the cryptocurrency market, with 36% investing more than 100,000 Turkish lira.

Investors in cryptocurrencies are disproportionately from younger generations, with 48% being between the ages of 31 and 44 and 37% being between the ages of 18 and 30.

The survey shows that 54% of investors under the age of 30 entered the market last year, while 31% of all cryptocurrency investors began investing in the past three months, underscoring the significance of the younger generation.

Additionally, a consistent distribution of cryptocurrencies is shown by the fact that 37% of investors over the age of 45 have been interested in cryptocurrencies for longer than two years.

According to the findings, 33% of investors under 30 have made investments totaling more than 100,000 Turkish lira. The younger generation’s intense curiosity and the participation of people of all ages attest to the widespread acceptance of cryptocurrencies in the nation.

As for the reasons behind investing in cryptocurrencies, 37% of investors see them as a way to store value, 25% use them to diversify their portfolios, 34% appreciate the ease of the money they offer, and 17% are interested in the quick profit and excitement that cryptocurrencies can bring. Additionally, 58% of investors are interested in cryptocurrencies to build future wealth.

Top crypto options include Bitcoin and Ethereum

The next section discusses cryptocurrency investment goals. Bitcoin is the most popular option, attracting 71% of investors’ interest. This is followed by Ethereum and stablecoins, which draw 45% of all investors’ interest overall and as much as 52% from young investors.

Stablecoins have drawn the attention of 33% of investors as a result of the rising demand for trustworthy digital assets for use in exchange, transfer, and value preservation.

Additionally, we discover that 22% of Turks use cryptocurrencies to buy NFTs, showing a growing interest in novel types of digital assets, whereas 70% of Turks use cryptocurrencies primarily for trading.

Finally, communities and friends are important in driving bitcoin adoption, with 57% of participants learning about cryptocurrencies from friends or family. The significance of interpersonal connections in exposing individuals to the world of cryptocurrencies is highlighted by this.

KuCoin CEO Johnny Lyu offered the following commentary on the report:

We are excited to present this comprehensive report which sheds light on the dynamics of the crypto community in Turkey. Through “Into the Cryptoverse: Understanding Crypto Users in Turkey”, we aim to contribute to a more informed crypto landscape and encourage the responsible adoption and use of cryptocurrencies.

We hope this report will spark meaningful discussions and contribute to the collective understanding of the global crypto community.