KuCoin Report Reveals Crypto Investment Trends Among Turkish Adults

KuCoin Report Reveals Crypto Investment Trends Among Turkish Adults

Crypto News – KuCoin, one of the world’s top five crypto exchanges according to CoinMarketCap, has published its 15th report in its “Understanding Crypto Users” series. This report zooms in on the Turkish market and reveals the patterns, choices and attitudes of adult crypto investors in the country.

The report shows a remarkable increase in crypto adoption among Turkish adults, with more than half of them investing in crypto. The proportion of crypto investors in the Turkish population aged 18 to 60 has risen by 12% in the last 18 months, from 40% in November 2021 to 52% in May 2023, despite the market challenges. This reflects a growing interest and acceptance of crypto as a way to hedge against inflation, especially with the Turkish lira losing over 50% of its value against the US dollar. The report offers valuable insights for crypto enthusiasts, investors and businesses who want to explore the Turkish market.

Some of the key findings from the report are

Crypto Investors Are Growing Among Turkish Adults: 52% Are Crypto Investors, with More Women Joining the Space According to the survey, crypto investors among Turkish adults have grown significantly in the last 18 months, from 40% to 52%. While men still make up the majority at 57%, there is an increasing trend of women’s participation, especially among the younger generation. Almost half (47%) of crypto investors aged between 18 and 30 are women. This suggests a narrowing of the gender gap as crypto becomes more mainstream, with women crypto investors over the age of 45 accounting for only 37% of the total.

Young Generations Are Driving Crypto Growth: 31% of Investors Entered the Market in the Last Quarter and 36% Invested More Than 100,000 Liras Younger generations are dominant among crypto investors, with investors between the ages of 31 and 44 making up the majority at 48%, followed by investors between the ages of 18 and 30 at 37%. According to the survey, 31% of all crypto investors made their first crypto investment in the last three months, with 54% of investors under the age of 30 joining the market last year, indicating the influence of young people.

Additionally, 37% of investors over the age of 45 have been investing in crypto for more than two years, indicating that crypto has undergone a stable adoption process. The results also show that 33% of investors under the age of 30 have invested more than 100,000 TL.

Crypto Investors Have Diverse Motivations and Uses for Crypto

58% Aim for Long-Term Wealth, While Others Trade, Explore NFTs or HODL Crypto investors have different motivations and uses for crypto, according to the survey. A remarkable 58% aim for long-term wealth, a sentiment that is common across all age groups. However, differences emerge when looking at different age groups.

Older investors prioritize value preservation and diversification, while younger generations lean towards quick transactions and short-term gains. The survey also highlights the various uses of crypto. Around 70% actively trade cryptocurrencies, 22% explore NFTs, and 19% engage in HODLing and staking. Participation in these activities increases with age, in line with older investors’ preference for long-term strategies.