Home Crypto Nearly half of crypto users invest to boost living standards: Report

Nearly half of crypto users invest to boost living standards: Report

by Janine Lindsey

A recent survey conducted by crypto exchange Bitget has revealed that approximately 50% of crypto users are investing in digital assets to improve their everyday living standards. The survey, which included over 1,500 participants from 20 countries, highlighted the various financial goals of individuals investing in cryptocurrencies.

According to the survey, respondents in 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 in Malaysia and Taiwan, who stated that enhancing their family’s quality of life was more important than other aspirations.

Interestingly, the survey also found that a significant number of female crypto investors in the United States and Turkey were investing in digital assets to fund their children’s education. In contrast, only 5% of female investors in South Korea and Japan shared this purpose.

When it comes to the amount invested, users from China displayed the highest level of engagement. Despite the ban on crypto trading in the country, Chinese nationals can still own cryptocurrencies through the use of VPNs or by residing overseas. The survey revealed that 18% of Chinese respondents allocated sums between $50,000 and $100,000, with an additional 19% investing between $100,000 and $500,000 in crypto assets.

However, despite the continued adoption of cryptocurrencies, interest in certain areas of the world has stagnated due to tightening regulations and falling prices. For example, a recent survey by the Bank of Canada showed a decline in crypto ownership among Canadian adults.

On the other hand, interest in cryptocurrencies is growing in other areas, such as Nigeria. A separate survey found that 99% of Nigerians reported awareness of digital assets, with 90% of respondents planning to invest in crypto within the next year.

Overall, the survey conducted by Bitget provides valuable insights into the motivations and aspirations of crypto users. It highlights the importance of improving everyday living standards and family welfare as primary financial goals for many investors. As cryptocurrency continues to evolve and shape the global financial landscape, understanding these trends and preferences is crucial for both individuals and businesses operating in the digital asset space.

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