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- Women represent nearly half of the crypto investment demographic aged 18 to 30.
- 71% of investors indicated they hold Bitcoin, with Ethereum following as the second most held asset.
A report from the cryptocurrency exchange KuCoin indicates that the use of digital currencies is increasing in Turkey, a country facing notable inflation challenges. Over the past 18 months, adoption rates in Turkey have surged from 40% to 52% of the populace. This data was gathered by KuCoin and is featured in their latest study titled “Understanding Crypto Users.”
A representative from KuCoin remarked:
“According to our research in Turkey and other earlier country analyses, the growing number and proportion of crypto investors in Turkey reflect a rising interest and acceptance of cryptocurrencies as a safeguard against inflation.”
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Inflation remains a significant issue in both Brazil and Nigeria, as noted by the KuCoin representative. The survey revealed that 58% of participants cited their “primary reason” for investing in cryptocurrencies as the desire to “build wealth over the long term,” while 37% aim to use it as a means of preserving value.
Given the nation’s economic challenges, including a declining lira and rampant inflation, the appeal of cryptocurrency investments and asset protection strategies has grown. Bitcoin is by far the most favored choice among cryptocurrency investments, with 71% of investors reporting they hold Bitcoin, while 46% indicated they possess Ethereum or similar stablecoins.
Although men continue to show a greater tendency to invest in cryptocurrencies, young women in Turkey are increasingly becoming active participants in the market. Women account for approximately half of the crypto investment segment aged 18 to 30. The survey also found that 57% of investors were influenced to invest based on recommendations from others.
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