Turkey is a country that is located within Europe and also in the Asian continent. Despite their diversity, one of the things uniting them is their shared interest in the crypto industry. So, recent research shows that much of the Turkish population has large crypto investments.
52% of People In Turkish Invest in the Crypto Industry
- According to new research from Kucoin, Turkey is one of the countries with massive adoption of cryptocurrencies. This research from Kucoin is part of their Into the Cryptoverse series. So, this research shows that there’s an enormous amount of increase in the number of Turkish adults investing in the crypto industry, rising from 40% to 52% within the last 18 months.
- There’s an increasing rate of female participation in the crypto industry in this country, although male investors still dominate at a rate of 57%. So, the margin between male and female crypto investors in Turkey is close to nonexistent. About half (47%) of crypto investors aged between 18 and 30 are female.
Young People Driving Turkish Investments in the Crypto Industry
- The research from Kucoin further shows that the young part of the Turkish population is among the major drivers of crypto adoption. So, those between the ages of 31 and 44 make up most of the investors at 48%. Those between the ages of 18 and 30 make up the next 37%. However, this research further shows that many Turkish crypto investors are just getting started with the crypto industry.
- About 31% of overall crypto investors made their first crypto investment in the last three months. Moreover, many of those under the age of 30 started investing in the crypto industry as early as last year. The next group of investors are those over the age of 45. So, 37% of those within this age limit have more than 2 years of experience in making crypto investments.
Many People Within the Turkish Population Invest in Crypto for Different Reasons
- There are many reasons people who live in Turkey invest in the crypto industry. Many are for wealth, portfolio diversification, storage value, and ease of transfer. Additionally, some of these investors do so just for the sheer excitement.
- According to the research from Kucoin, 58% of people say that the primary goal of crypto investments is to create long-term wealth. 37% of participants say it is to preserve storage value. Furthermore, 25% say they do so for their portfolio diversification. 34% for ease of transfers and 17% for quick profit and excitement.
Cryptocurrencies Where Their Investments Go in
- A large number of the Turkish population has their investment in the crypto industry in Bitcoin. So, 71% of overall crypto investors in Turkey say their major crypto investment is Bitcoin.
- Ethereum comes second in the list of investments, with as many as 45% claiming to have Ethereum investment. Furthermore, 21% show interest in NFTs, 19% in Metaverse, and 18% in meme tokens.
- Wrapping up, it is clear that the crypto industry is an important part of the Turkish population. So, this is according to a survey and research from Kucoin. At this rate, one can say Turkey is moving in the right direction.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company
