News

52% Of Turkish Adults Are Now Investing In Crypto: KuCoin Report

Key Points:

  • KuCoin’s report shows that 52% of Turkish adults are now investing in crypto within the next 18 months.
  • Rising interest is linked to the Turkish lira’s 50% loss against the USD, signaling crypto’s appeal as an inflation hedge.
  • The survey underscores diverse motivations and cryptographic applications across different age groups.
KuCoin, a prominent cryptocurrency exchange, has launched its latest report, “Into The Cryptoverse: Understanding Crypto Users,” focusing on Turkish investors. This report provides a comprehensive overview of the crypto landscape in the country, delving into the behaviors, preferences, and trends among adult crypto investors.
52% Of Turkish Adults Are Now Investing In Crypto: KuCoin Report 3

A notable surge in Turkish adult participation in crypto investment has emerged from the survey findings. More than half of Turkish adults, a significant 52%, have ventured into crypto investments.

Source: KuCoin

Impressively, this figure has escalated by 12% over the past 18 months, soaring from 40% in November 2021 to the current 52% as of May 2023, defying market challenges.

This surge signifies a growing enthusiasm for cryptocurrencies as a hedge against inflation, especially with the Turkish lira’s depreciation of over 50% against the US dollar. The report serves as a valuable resource for crypto enthusiasts, investors, and businesses seeking insights into the Turkish crypto market.

Of note, young women aged 18 to 30 stand out, with 47% holding cryptocurrencies. Bitcoin leads the preferred digital assets with a 71% holding rate, followed by ETH at 45% and stablecoins at 33%.

Motivations driving Turkish adult crypto investors vary. An impressive 58% strive for long-term wealth, a sentiment spanning all age groups. However, distinctions emerge when examining different age brackets.

Older investors prioritize value preservation and diversification, while younger generations lean towards quick transactions and short-term gains.

The survey also underscores crypto’s multifaceted utility. Around 70% actively trade cryptocurrencies, 22% explore NFTs, and 19% engage in HODLing and staking. Engagement in these activities increases with age, aligning with older investors’ inclination toward long-term strategies.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Clanker Token Trading Volume Hits $59.8 Million High

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

10 minutes ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

33 minutes ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

1 hour ago

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

3 hours ago

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

4 hours ago

Crypto Advisory Council Now A White House Position Attracting Leaders

Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…

4 hours ago

This website uses cookies.