The results of the “Cryptocurrency Awareness and Perception Survey-2023”, conducted in cooperation with Paribu and FutureBright Group, presented interesting data on the cryptocurrency and blockchain industry.
As in previous years, the research, which is the “most comprehensive” of its kind, aims to mirror the developments in the cryptocurrency ecosystem in Türkiye, share the data obtained with the public and stakeholders, identify expectations, motivations and barriers regarding cryptocurrency, and draw a roadmap for what can be done based on the results.
The research, which was conducted through face-to-face interviews and conducted on a sample group representing the whole of Türkiye, reflected the impact of the developments in the sector in the last year. The research results are analyzed under 4 headings: awareness, experience, technology and demographics.
The awareness rate of cryptocurrency has reached 99 percent
The awareness rate of cryptocurrency continues to increase each year. This year, the rate of those who heard of cryptocurrency was recorded as 99 per cent. However, the rate of those who engaged in transactions doubled compared to last year, reaching 25.1 percent.
Although the trading rate has increased, trading preferences remain similar to previous years. 60% of those who are engaged in cryptocurrency trading prefer Bitcoin. When asked about the intended use of cryptocurrency; 3 out of every 4 people who heard of cryptocurrency stated that it is used for short-term trading. Among those who are engaged in cryptocurrency trading, 4 out of every 5 people have the same opinion.
Cryptocurrency exchange platforms are also preferred for research
One of the striking results obtained this year was that 52 percent of those who are engaged in cryptocurrency trading preferred cryptocurrency echange platforms for their research in this field. Recommendations from close friends and family and internet research are among the other preferred research sources.
Another important data on exchange platforms was the increase in the rate of those who prefer local trading platforms. This rate, which was 51 percent last year, increased to 64 percent.
The investment preferences have changed
Changes were detected in investment preferences compared to last year. Cryptocurrencies became the second most preferred investment instrument with 29 percent. Real estate ranked first with 30 percent. According to 49 percent of those who heard about cryptocurrency and 75 percent of those who are engaged in cryptocurrency trading, cryptocurrency is seen as a reliable investment instrument. At the top of this list is real estate with 82 percent.
In addition to being preferred and trusted as an investment instrument, the satisfaction level of those who are engaged in cryptocurrency trading has also increased. 86 percent of the participants stated that they were satisfied with their trading experience, while 81 percent said they found it easy to execute transactions.
Women make more transactions
When the demographic data of the research were analyzed; it was found that women who heard about cryptocurrency were more interested in trading than men. While 29 percent of women who heard about cryptocurrency execute transactions, this rate is 23 percent for men.
From a socioeconomic point of view, as in previous years, the group that made the most transactions was C1 with 60.4 percent.
Striking results
Other findings of the research are as follows:
The awareness rate of cryptocurrency is 99%.
The rate of those who think that cryptocurrencies will be used more in the future is 39%.
29% of women who have heard of cryptocurrency execute transactions.
8 out of every 10 people who are engaged in cryptocurrency trading know that cryptocurrencies use blockchain technology.
Local exchange platforms are preferred by 64%.
1 out of every 2 people trade cryptocurrencies expecting high returns.
7 out of every 10 people who are engaged in cryptocurrency trading trust cryptocurrency.
You can access the Cryptocurrency Awareness and Perception Survey here.
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