Paribu, the cryptocurrency trading platform with the highest trading volume in Turkey, has published the results of the second cryptocurrency awareness and perception survey, which is the most comprehensive survey conducted in Turkey. The survey accounts for a 1-year change in the cryptocurrency ecosystem.
The results of the “Cryptocurrency Awareness and Perception Survey-2021”, conducted by Akademetre Research Company on behalf of Paribu, have provided significant data on the cryptocurrency industry.
Based on the results of the survey conducted by individual online interviews with a sample group that represents the entire population of Turkey, the rate of people who make transactions with cryptocurrencies in Turkey has increased by 10 times within a year. The rate of people who made cryptocurrency transactions was 0.7% during the previous year while this year’s result is 7.7%.
The survey showed that there was a significant increase in the rate of women engaged in cryptocurrency transactions. 2 in every 10 people who made cryptocurrency transactions over the last year were women while this year, this rate has increased to 4 in every 10 people.
The satisfaction rate of cryptocurrency transactions is 74%
The survey also includes results on user experience. Based on the survey, the satisfaction rate of cryptocurrency transaction experience is 74%. Based on the assessment by generations, generation Y has the highest rate of satisfaction. 76.2% of generation Y is satisfied with cryptocurrency transactions followed by generation X by 75.9%. On the other hand, 58.3% of generation Z is satisfied with cryptocurrency transactions.
In the survey, users also provided their answers about the reasons for satisfaction. “Profitability” comes in the first place with 41.3% followed by “easy transactions” by 10% and “reliability” by 4.3%.
The most popular transaction is trading, investments are on the rise
The survey also provided data on the reasons for using cryptocurrencies and preferred types of cryptocurrencies. According to the data, the majority of Turkish users use cryptocurrencies for “trading” by 64%. Based on the multiple answers given, 50.3% of users are engaged in cryptocurrency transactions for investment purposes. The rate of investors has doubled within a year.
Bitcoin is the most preferred cryptocurrency by users. 7 in every 10 users carry out Bitcoin transactions. In addition, 2 in every 10 users carry out transactions with Ethereum while 1 in every 10 users carry out transactions by XRP.
The survey also showed that 1 in every 5 people who have heard about cryptocurrencies would like to carry out cryptocurrency transactions.
How were the results affected by developments in the cryptocurrency industry?
Some unjust treatment caused by certain cryptocurrency platforms in Turkey just before the survey period between April 30th and May 27th has also had a negative effect on the results.
The rate of those who had previously found cryptocurrencies “reliable” or “highly reliable” has dropped from 34.2% to 25.3% within a year.
Even though there is no legal prohibition against cryptocurrency use, 1 in every 4 people considers that using cryptocurrencies is “illegal”.
“Interest in cryptocurrencies and expectation for regulation have increased”
Having emphasized to have conducted the most comprehensive survey in the cryptocurrency ecosystem in Turkey for the second time, Yasin Oral, CEO of Paribu, said: “Within a year, the interest in cryptocurrencies has increased significantly. Both communication activities of trading platforms and the volatility of cryptocurrencies played a major role in such interest. We see that Turkey has a high potential to play a leading role in cryptocurrencies. In April, some trading platforms caused unjust treatment against their users. This had a negative impact on the results of the survey in return. While interest in cryptocurrencies has increased, we have once more realized that regulation is required in order to fully restore the trust in cryptocurrencies”.
Oral continued: “The satisfaction rate of those who carry out cryptocurrency transactions is quite high. A significant number of those who have heard about cryptocurrencies want to carry out transactions in the future. Our primary responsibility is to support this motivation and ensure that users safely take the first step into the cryptocurrency ecosystem”.
Having emphasized that they have interviewed 1429 individuals until they have reached 1000 individuals who have heard about cryptocurrencies or Bitcoin for the survey that was conducted in 12 cities throughout Turkey, Dr. Halil İbrahim Zeytin, the founder of Akademetre, said: “We have conducted the most comprehensive cryptocurrency survey in Turkey for the second time. During the survey process, we have held necessary interviews by taking all required health measures. We have worked with a satisfactory sample group in cities to represent the entire population of Turkey to measure cryptocurrency awareness, perception, and the tendency to consider cryptocurrencies as an investment instrument. The results have clearly demonstrated the user motivation and barriers relating to cryptocurrencies”.
Other findings obtained from the survey are as follows:
- 4 in every 5 people have never heard about blockchain technology (80.2%).
- 1 in every 10 people who has heard about cryptocurrencies carries out transactions (11%).
- 3 in every 10 people think that the cryptocurrency market is profitable (28.7%).
- The most significant advantages consist of having no limitation in terms of time and space for cryptocurrency transactions (77.2% and 75.2%, respectively).
- University graduates carry out most of the transactions (49%).
- Among the various socioeconomic status groups, group C1 carries out most of the transactions (43%).
- The majority of cryptocurrency transactions are undertaken by “wage employees” (57.3%). The rate of the “unemployed” group, including the retired former employees and students, has doubled compared to the previous year (29.4%)
- Reason for quitting transactions: They require strict follow-up (9.3%).
Click here to download the survey report: Paribu Cryptocurrency Awareness & Perception Survey of 2021
Bu içerik en son 26 October 2022 tarihinde güncellenmiştir.