Half of the People in Turkey Now Own Crypto: Report - Decrypt
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Half of the People in Turkey Now Own Crypto: Report
KuCoin says crypto adoption is high in Turkey, as observed in other nations struggling with rapid inflation. Crypto adoption is on the rise in Turkey, a country in the throes of high inflation, according to a research survey conducted by KuCoin. Ov
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According to a survey conducted by KuCoin, half of the population in Turkey now owns cryptocurrency, a significant increase from 40% a year and a half ago. The rise in adoption is attributed to the country's high inflation, with many people turning to crypto as a hedge against the devaluation of the Turkish lira. Bitcoin is the most popular cryptocurrency among Turkish investors, followed by Ethereum and stablecoins. The survey also found that young women in Turkey are increasingly investing in crypto, and word of mouth from friends and family played a significant role in people's decision to invest.
Top Highlights
- Half of the People in Turkey Now Own Crypto: Report KuCoin says crypto adoption is high in Turkey, as observed in other nations struggling with rapid inflation.
- Crypto adoption is on the rise in Turkey, a country in the throes of high inflation, according to a research survey conducted by KuCoin. Over the last year and a half, adoption has increased from 40 percent to 52 percent of the Turkish population.
- KuCoin says crypto adoption is high in Turkey, as observed in other nations struggling with rapid inflation.
- Over the last year and a half, adoption has increased from 40 percent to 52 percent of the Turkish population.
- According to the survey, 58 percent of respondents said their "primary reason" for investing in cryptocurrency is to "accumulate wealth over the long term," while 37 percent aim to use it as a store of value.
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