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According to a recent survey conducted by Turkish crypto exchange Paribu, Turkish investors are increasingly leaning towards cryptocurrencies instead of traditional assets such as real estate and stocks.
The “2024 Cryptocurrency Awareness and Perception” survey collected responses from 2,002 individuals knowledgeable about cryptocurrency, with 541 actively participating in crypto trading.
The objective of the study was to assess public awareness and perceptions of digital assets while exploring the motivations and challenges faced by cryptocurrency investors.
Turkish Investors Exhibit Strong Interest in Crypto
The findings of the report reveal a significant interest in crypto investments, reflecting broader economic and technological shifts within Turkey’s investment landscape.
Gold was identified as the primary investment choice for 56% of respondents, closely followed by foreign currency.
However, 30% of participants favored cryptocurrency, indicating a notable increase compared to previous years.
This positions digital assets above traditional investments like real estate, which experienced a decline in preference, dropping from 30% in 2023 to 26% in 2024.
Conversely, interest in stocks and mutual funds saw a slight increase from 13% to 18%, although these options still lag behind both real estate and crypto.
Paribu’da bitcoin fiyatı 15 dakikalık zaman içerisinde yaklaşık %25 arttı ve arkasından geri düşmeye başladı.
1 bitcoin 3 Milyon TL seviyesinde işlem gördü.
Şuan 2.4 Milyon TL seviyesinde pic.twitter.com/IB2zgJ8W3K— Selcoin (@Selcoin) November 1, 2024
Nergis Nurcan Karababa, research content manager at Paribu, stated that various factors contribute to the shift towards cryptocurrencies, including transaction speed, accessibility, and the potential for substantial returns.
“In comparison to traditional financial products, crypto assets may see significantly higher rates of adoption,” she noted, linking this to a forward-looking expectation of cryptocurrency’s role in the future economy.
Karababa emphasized that increasing institutional interest further enhances cryptocurrency’s attractiveness as an investment option.
The survey also underscores Turkey’s high level of cryptocurrency awareness, with nearly 99% of respondents recognizing digital assets.
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This awareness has dramatically increased from just 16% in 2020 to 70% in 2021, coinciding with a time when cryptocurrency markets reached a historic valuation of $3 trillion.
Notable assets like Bitcoin and Ether reached new all-time highs during this period, further elevating public interest.
By 2022, awareness continued to grow, ultimately nearing universal levels in 2023 and 2024.
Understanding of Blockchain Remains Limited in Turkey
Despite widespread awareness of cryptocurrencies, knowledge regarding blockchain—the underlying technology behind digital assets—remains relatively low.
The survey indicated that 72% of respondents did not possess a basic understanding of blockchain, although awareness is gradually increasing.
In 2023, 25% of those surveyed recognized blockchain, a slight rise from the previous year.
Among those who are aware, 67% directly associate blockchain with cryptocurrency applications.
It is important to note that Turkey plays a significant role in the global crypto landscape.
The country ranks as the fourth-largest crypto market globally, with an estimated trading volume of $170 billion, surpassing well-known markets such as Russia, Canada, Vietnam, Thailand, and Germany.
In August, the Turkish Capital Markets Board (CMB) announced that a total of 47 cryptocurrency firms have applied for licenses under the newly implemented regulations.
Among the applicants are prominent exchanges like Bitfinex, Binance TR, and OKX TR.
However, major platforms such as Coinbase, Bybit, KuCoin, MEXC, and Gate.io were not included.
The post Turkish Investors Favor Cryptocurrencies Over Real Estate and Stocks: Survey Shows appeared first on Cryptonews.
