点击进入 Crypto Market & Investment Report: Turkiye 2022

Cryptocurrency exchange has published a research report on the characteristics of the Turkish cryptocurrency market, which provides an in-depth study of the cryptocurrency market in Turkey.
The Turkish government banned the use of payments through cryptocurrency in April 2021, but investment in cryptocurrency was not explicitly prohibited.
The cryptocurrency market in Turkey continues to grow at a rapid rate despite seemingly unpromising policies, with Chainanalysis data showing a 1,500% growth of Turkish cryptocurrency transactions from 2020 to 2021.
High inflation rates and a depreciating currency prompt people to eagerly look for new investments to combat currency devaluation. Crypto assets, nevertheless, appear to be a good option, and they are keen to buy stable coins to preserve their wealth.
According to tripe-a's continuous tracking of the global cryptocurrency market, the number of cryptocurrency users in Turkey is 3,811,882 as of 2022, which is about 4.5% of its domestic population. In Vietnam, where cryptocurrency gains its biggest popularity, the number of local users accounts for 20.27% of the total population. This data shows that the Turkish cryptocurrency market still has a large room for growth. Who are the Turkish cryptocurrency users?
Turkish cryptocurrency investors are predominantly male with a 90% share, and as cryptocurrency becomes more and more popular, a small number of women are starting to embrace cryptocurrency as one of their investment options.
Turkish cryptocurrency investors have a good educational background, with 52% of users having a bachelor's degree or higher and only 6% having less than a high school education, which provides a solid foundation for them to learn cryptocurrency investment.
In terms of the age of investors, the number of young and middle-aged people between 25 and 44 years old is the largest, accounting for 71% of the total. In addition, 20% of the investors are between 18 and 24 years old. During the user interviews, we found that many college students became enthusiastic about cryptocurrency investment, and they used their spare time to attend cryptocurrency lectures and learn about cryptocurrency. They thus believed there would be a bright future lying ahead for cryptocurrency. Some university students expected to work in related fields too.
41% of Turkish cryptocurrency investors do not have a stable job, are freelancing/ unemployed, or working part-time. Therefore, they have more leisure time to specialize in cryptocurrency. However, investing in cryptocurrency is more like a job to increase their income than just an investment; 58% of investors have a job with a stable income. To them, cryptocurrency is a worthy investment opportunity. They do not have free time to specialize in cryptocurrency due to their daily work, so they hope the platforms can provide detailed and systematic domain knowledge for them to ramp up cryptocurrency quickly.
Cryptocurrency investors in Turkey are scattered in all walks of life, with 13% of users working in construction-related jobs and 10% in computer/mathematics-related jobs; Users working in computer/mathematics-related industries tend to be more professional, and they are familiar with the principles of cryptocurrency and various types of financial services on major exchanges. Some of them also write their own programs to invest in. It is worth noting that the percentage of users whose occupation is college students is 6%, which ranks 4th among all categories. This data shows that the group of college students has a rather big potential. What is the attitude of Turkish cryptocurrency users toward investing?
Speaking of investment attitudes, the majority of Turkish users are mainly prone to medium-risk to medium-return, accounting for 44% respectively, followed by high-risk to high-return, accounting for 30%.
Different investors have different attitudes toward investing in cryptocurrency. Based on the percentage of high-risk and high-return, the younger the users are, the more aggressive their investment style is, and they are more accepting of high-risk investments and have higher expectations of returns. Compared to other groups, users over 55 years old are more inclined to low-risk and low-return investments, but their requirement for capital preservation is the lowest among all people.
The occupational status of users will also affect their investment attitudes. Among the users who expect high-risk and high-return, unemployed workers account for the highest proportion (36%), followed by part-time workers (35%). It is speculated that this is related to their income. They have relatively lower incomes, so they look forward to higher returns.
Users with doctoral and professional degrees are more likely to expect high-risk and high-return, accounting for 43% and 40% respectively; high school (no diploma) users are also more likely to expect high-risk and high-return, accounting for 43%; high school graduates are most likely to expect medium-risk and medium-return, accounting for 52%; This is followed by users with bachelor's degrees, with 50% of them expecting medium-risk and medium-return.
When users are first introduced to cryptocurrency, they expect high-risk and high-return from their investment. As they become more experienced, their investment attitude will lean more towards medium-risk and medium-return. Interestingly, when they are very experienced and have invested for more than 5 years, their expectation of high-risk and high-return will rise again. Introduction to Research Methodology
The study used an online quantitative questionnaire and in-depth interviews, with the quantitative questionnaire lasting from April 8, 2022, to May 20, 2022.
In-depth interviews covered users of different ages/occupations/education levels/career experiences;
In this study, we focus on the basic characteristics of Turkish cryptocurrency users, investment behavior, and other information.
Disclaimer: This report is compiled based on user feedback data. The research process was executed to be as accurate as possible. Still, it cannot guarantee 100% accuracy and cannot be used as a personal investment reference.
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