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About 50% of cryptocurrency users are investing in digital assets to enhance their daily living standards.
A recent survey conducted by crypto exchange Bitget, released on Oct. 5, revealed that 46%, 44%, and 41% of participants from South Korea, Canada, and Turkey, respectively, indicated that improving their living standards is their primary financial objective when investing in digital assets. Additionally, approximately 36% of respondents in Malaysia and Taiwan prioritized enhancing their family’s quality of life over other goals.
The survey was carried out from May to August, involving over 1,500 participants from 20 countries, including those in the European Union, China, Japan, South Korea, Turkey, the U.S., and Canada.
Despite ongoing adoption, interest in cryptocurrencies has plateaued in certain regions due to stricter regulations and declining prices. On Aug. 4, Cointelegraph reported that crypto ownership among Canadian adults decreased by three percentage points from 2021 to 2022. “Investors did not seem to transition from Bitcoin to other cryptoassets, as we noted a reduction in ownership of altcoins,” stated the Bank of Canada in its survey findings.
In other parts of the world, 99% of Nigerians reported being aware of digital assets in a recent survey, with 90% of respondents expressing intentions to invest in crypto within the upcoming year.
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