According to a survey by Paribu, Turkish investors prefer cryptocurrencies to real estate and stocks

Published on November 6, 2024
By: Indigo White
Featured image for “According to a survey by Paribu, Turkish investors prefer cryptocurrencies to real estate and stocks”

A recent survey by the Turkish exchange Paribu, in collaboration with Future Bright Group, shows that Turkish investors are increasingly turning to cryptocurrencies instead of real estate and stocks. Conducted between July 12 and September 2, the survey covered 12 iconic cities nationwide.

The study, “Cryptocurrency Awareness and Perception 2024”, employed computer-assisted interviews to assess public attitudes toward digital currencies while exploring the motivations and challenges that investors encounter.

The study surveyed around 2,000 individuals, with 541 actively participating in the crypto market. While gold remained the top choice for 56% of respondents, 30% opted for cryptocurrencies. Notably, interest in real estate declined from 30% in 2023 to 26% in 2024.

A year ago, Paribu reported that 99% of respondents were aware of cryptocurrencies. They also noted that the number of people engaging in crypto transactions had doubled since 2022, reaching 25.1%. In their 2023 report, 60% of crypto investors stated that Bitcoin was their preferred medium for trading.

“Türkiye’s cryptocurrency recognition has seen a dramatic surge, leaping from 16 percent in 2020 to a near-universal 99 percent in both 2023 and 2024. In the meantime, the percentage of cryptocurrency traders increased from 25.1 percent to 27 percent compared to a year earlier”.

–From Paribu’s latest report.

Investment preferences have stayed mostly in line with 2023 trends, but Bitcoin has gained further traction and is now the top choice for 70% of investors.

“Cryptocurrencies can see much higher adoption rates than traditional financial products”.

–Nergis Nurcan Karababa, a researcher at Paribu.

While most Turkish public is familiar with cryptocurrency, understanding blockchain remains limited. Paribu found that 72% of respondents lacked basic knowledge of blockchain technology, which aligns with the 75% reported in 2023.

“86 percent of users prefer mobile applications on smartphones as the preferred method for cryptocurrency transactions. The primary reason for choosing this method is its practicality, cited by 67 percent of users.

While one in two cryptocurrency traders engage in trading with the expectation of high returns, the number of people believing that cryptocurrency usage will increase in the future is rising each year”.

Among respondents, crypto wallets stood out as the most recognized concept related to blockchain technology. To put it in perspective, 52% of participants reported being familiar with the term. In comparison, other blockchain concepts, like staking and seed phrases, were less widely recognized among those surveyed.

Further news:

Subscribe to the Purse.io Newsletter to stay updated with our weekly insights on Blockchain, e-commerce, and cryptocurrencies. Don’t forget to follow us on X for the latest on Hamza, the first Web3 marketplace powered by the Loadpipe protocol and the LOAD token. This solution is designed to enhance e-commerce with low gas fees, trading freedom, and a wide range of cryptocurrencies.

We’re excited to introduce the Hamza.biz Ambassador Program—a great chance to see how Web3 is changing e-commerce. As an ambassador, you’ll get exclusive access to our private Discord channel, where you can share your ideas and earn gifts and bonuses. Click here to learn more.