In Turkey, more women are investing and trading cryptocurrencies as their crypto curiosity tops that of men, according to a survey by crypto exchange KuCoin.
Per the announcement:
“One of the key takeaways is how women in Turkey get involved in crypto. More specifically, they are almost as well-represented as men in the trading and investing segment. Female accounts represent 47% of investors and 63% of the crypto-curious.”
Female crypto investors stand at 47% in Turkey, just slightly lower than their male counterparts at 53%.
Nevertheless, women’s desire to know about cryptocurrencies is considerably higher at 63% than men at 37% in the nation.
The study noted that Turkey was a vital region for crypto adoption despite the absence of regulatory frameworks, given that interest for crypto-assets was rising, especially among older generations and women.
One of the catalysts of crypto interest entails the ongoing financial turmoil witnessed in the nation. For instance, runaway inflation has caused the nation’s currency, the Turkish lira, to lose nearly 50% of its value.
The report noted:
“To avoid the decreasing purchasing power from savings in lira, consumers flock to alternative investment solutions. The U.S. Dollar and gold remain favorable options, but overall demand for exposure to cryptocurrencies is rising.”
Exploring the cryptocurrency waters in areas like derivatives, stablecoins, and metaverse projects have become the norm in Turkey as mass adoption remains on track. The survey reads:
“Roughly 40% of the internet population aged 18-60 own cryptocurrencies or have traded such assets in the past six months. Moreover, 59% of crypto investors will increase their exposure in the first half of 2022.”
Cryptocurrencies are also coming to the rescue of Argentinians as high inflation rates continue to bite. The annual inflation rate on Argentinian soil does not seem to be slowing down because economists speculate it will hit 55% this year from 50.7% recorded in 2021.Image source: Shutterstock
