- KuCoin reports that more than half of the adults in Turkiye are involved in crypto investment.
- Turkish adults participating in crypto increased by 12% in the last 18 months.
- There is a rising interest and acceptance of crypto as a hedge against inflation.
KuCoin, one of the foremost crypto exchanges, reports that more than half of the adults in Turkiye are involved in cryptocurrency investment. In a recent survey, the crypto exchange revealed a growing trend in crypto investment among Turkish adults. According to KuCoin, the number of Turkish adults between the ages of 18 to 60 investing in crypto increased by 12% in the last 18 months.
As of November 2021, KuCoin noted that the ratio of Turkish adults investing in crypto was 40%. Data from the recent report shows this figure climbed to 52% as of May 2023, not minding the bearish nature of the crypto market.
KuCoin believes the increasing number of crypto investors signifies a rising interest and acceptance of crypto as a hedge against inflation. The report suggests that more adults in Turkiye are embracing cryptocurrency, considering the dwindling fortunes of the country’s national currency,the Lira,which has recently lost over 50% of its value against the US dollar.
KuCoin’s report reveals an increasing interest among female investors, especially those of a younger age. According to the report, 47% of investors aged between 18 and 30 years are females, marking a remarkable close in the gender gap among the younger generation investing in crypto.
The gap is widest among investors aged between 45 and 60 years, where the male gender dominates by 63%, leaving the females with 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 Turkiye, leaving female adults with 43% of the ratio.
The most significant investors category are middle-aged adults between ages 31 and 44. According to KuCoin’s report, this category of investors accounts for 48% of all adult Turkish crypto investors. Young adults between 18 and 30 years follow them, who account for 37% of the investors’ population.