Last updated on September 2, 2023 1:13 pm
Turkish crypto investors surged 12% as inflation continues to hit the country. The Young Generation Is At The Forefront Of Crypto Investing In Türkiye.
- As per a study, more than half of Turkey’s adults are active in cryptocurrency investments.
- According to the survey, more adults in Turkey are adopting cryptocurrencies due to the country’s original currency, the lira, which recently lost more than 50% of its value against the US dollar .
- Males account for 57% of the total adult crypto investors in Turkey, while the proportion of female adults is 43%.
Kucoin Survey about Crypto usage in Turkey
According to KuCoin, one of the leading cryptocurrency exchanges, more than half of Turkey’s adults are active in cryptocurrency investments. According to a recent survey conducted by the crypto exchange, there is an increasing trend in crypto investment among Turkish individuals. According to KuCoin, the number of Turkish citizens aged 18 to 60 investing in cryptocurrencies has increased by 12% in the last 18 months.
KuCoin reported that, as of November 2021, 40% of Turkish adults were investing in cryptocurrencies. Despite the bearish character of the crypto market, data from a recent analysis shows that this proportion will increase to 52% by May 2023.
Growing Interest and Acceptability of Crypto in Turkey
KuCoin argues that the growing number of crypto investors reflects the growing interest in and acceptability of cryptocurrencies as a hedge against inflation. According to the survey, more adults in Turkey are adopting cryptocurrencies due to the country’s original currency, the lira, which recently lost more than 50% of its value against the US dollar .
No Major Gender gap in Crypto Traders in Turkey
According to KuCoin’s survey, there is a growing interest among female investors, especially younger investors. According to the survey, 47% of investors between the ages of 18 and 30 are women, indicating a significant reduction in the gender gap among the younger generation investing in cryptocurrencies.
This gap is largest among investors aged 45 to 60, where the male gender dominates 63%, with females accounting for only 37% of the population. However, overall, there is still male dominance among Turkish crypto investors. Males account for 57% of the total adult crypto investors in Turkey, while the proportion of female adults is 43%.
BTC or ETH First – Choice of Turkey Investors?
As for specific cryptocurrencies attracting Turkish adult investors, Bitcoin (BTC) is the front runner, attracting the interest of 71% of all crypto investors.
Ethereum (ETH) is close behind with 45% overall interest and 52% among young investors.
Age-wise Crypto Inveators in Turkey
The most important investor category is middle-aged adults between the ages of 31 and 44. According to Kucoin’s report, this category of investors accounts for 48% of all adult Turkish crypto investors. They are followed by young adults between the ages of 18 and 30, who make up 37% of the investor population .
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