About 50% of Crypto Users Invest to Improve Living Standards
A recent survey conducted by crypto exchange Bitget revealed that approximately 50% of crypto users invest in digital assets with the goal of improving their everyday living standards. The survey, which took place between May and August, included over 1,500 participants from 20 countries including the EU, China, Japan, South Korea, Turkey, the US, and Canada.
Financial Goals of Crypto Investors
The survey highlighted that respondents from South Korea, Canada, and Turkey identified improving their living standards as their primary financial goal when investing in digital assets. This sentiment was echoed by respondents from Malaysia and Taiwan who prioritized enhancing their family’s quality of life.
Different Motivations for Female Crypto Investors
Interestingly, female crypto investors in the US and Turkey revealed that they invested in digital assets to fund their children’s education. In contrast, only a small percentage of female investors in South Korea and Japan shared this motivation.
Investment Levels and Chinese Engagement
The survey also shed light on the amount invested by respondents. Users from China demonstrated the highest level of engagement with 18% allocating sums between $50,000 and $100,000, and an additional 19% investing between $100,000 and $500,000 in crypto assets. Despite China’s ban on crypto trading, Chinese nationals can still own cryptocurrencies using VPNs or if they reside overseas.
Nigerians Show High Awareness of Digital Assets
In a separate survey conducted in Nigeria, it was found that 99% of respondents were aware of digital assets. Furthermore, 90% expressed their intention to invest in cryptocurrencies within the next year.
Hot Take: Financial Goals and Living Standards Shape Crypto Investments
The Bitget survey highlights the diverse financial goals of crypto investors around the world. Improving living standards and enhancing family life are key motivations for many. Additionally, cultural and regional differences impact investment preferences, with Chinese investors showing significant engagement despite regulatory restrictions. The increasing awareness and interest in digital assets, as seen in Nigeria, indicate a growing global adoption of cryptocurrencies.
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