Here’s Why People Invest in Crypto
A new study by Bitget offers an interesting insight into how people invest in crypto and what differences exist. Let’s find out.
Bitget, the Seychelles-based cryptocurrency exchange, has decided to find out why people buy into cryptocurrencies.
To do that, it carried out research in 20 countries, including European states, China, Japan, South Korea, and Turkey, as well as some English-speaking nations between May 2023 to August 2023.
And the answers turned out to be both predictable but also slightly surprising.
According to the press release, the most prevalent financial goals among crypto investors worldwide were the enhancement of living standards and the generally elevated quality of life.
This holds for 46% of South Korean investors who aim to boost living standards. As well as Canada (44%) and Turkey (41%) respectively. Meanwhile, 36% of Malaysians and Taiwanese prioritize family income.
Investing behavior differs gender-wise. For example, in South Korea and Japan, female investors (49% and 41%, respectively) focus on personal finances. To compare: only 17% of South Korean male investors want to improve family finances.
Likewise, female investors are more inclined to invest in crypto for education funding purposes. In Turkey and the US, around 27% of female investors invest in crypto to fund their children's education.
Amount-wise, the investments also vary. Chinese investors are reportedly more active, with 19% investing over $100,000. Meanwhile, in Europe, Turkey, and South Korea, around 50% of investors use between $1,000-$10,000 for investments.
Previously, GN Crypto reported that Chainalysis' recent study indicates a notable uptick in cryptocurrency adoption among the world's economically disadvantaged nations.
