A recent survey conducted by crypto exchange Bitget, which included over 1,500 participants from 20 different countries, reveals that nearly 50% of cryptocurrency users are investing in digital assets with the aim of elevating their everyday living standards. The survey, published on October 5, also highlights that in South Korea, Canada, and Turkey, 46%, 44%, and 41% of respondents, respectively, consider improving their living standards as their primary financial objective when investing in digital assets. Additionally, about 36% of participants from Malaysia and Taiwan prioritize enhancing their family’s quality of life over other financial goals.
Approximately 27% of female crypto investors in the United States and Turkey noted that they are investing in digital assets to support their children’s education, in contrast to just 5% in South Korea and Japan. When it comes to the amount invested, Chinese users exhibited the highest level of engagement, with 18% allocating between $50,000 and $100,000, and an additional 19% investing between $100,000 and $500,000. It’s worth mentioning that despite the ban on crypto trading in China, Chinese individuals can still hold cryptocurrencies and work around the ban using VPNs. This ban also doesn’t apply to Chinese nationals residing abroad.
The survey took place between May and August and included over 1,500 participants from 20 different countries, spanning the European Union, China, Japan, South Korea, Turkey, the United States, and Canada.
Despite ongoing adoption, interest in cryptocurrencies has stalled in certain regions due to increased regulatory scrutiny and declining prices. According to a report from August 4 on Cointelegraph, the ownership of cryptocurrencies among Canadian adults dropped by three percentage points between 2021 and 2022. The Bank of Canada, when publishing its survey results, noted that investors didn’t seem to be shifting away from Bitcoin to other cryptocurrencies, as there was a decrease in the ownership of alternative coins.
Conversely, in other parts of the world, 99% of Nigerians reported being aware of digital assets in a recent survey, with 90% of respondents expressing their intention to invest in cryptocurrencies within the coming year.
