Cryptocurrency adoption is very important in Turkey, even though there isn’t a lot of regulation for these assets. The KuCoin survey for Turkey in 2021 shows that women and older people are becoming more interested in cryptocurrencies. The demand for digital assets grows as the country is in the middle of a money problem.
Most of all, the value of the Turkish lira has dropped by about 50%. Inflation is raging all over the country. Saving in lira reduces purchasing power, therefore consumers search for alternative ways to invest. The U.S. Dollar and gold are still good options, but people want to get more involved with cryptocurrencies as a whole.
The KuCoin report for 2021 and a survey on crypto in Turkey show some interesting things. This is what people say. The first thing to notice is how quickly people are adopting cryptocurrencies. About 40% of people who use the internet between the ages of 18 and 60 own cryptocurrencies or have traded them in the last six months. More than that, 59% of crypto investors plan to invest more money in the first half of 2022.
Cryptocurrencies have gained popularity in Turkey, leading to many new traders testing them out in the last half-year. Also, only one in four people who trade crypto assets have done so for more than a year. KuCoin thinks this is a sign that more people need to learn about how to keep the market safe.
It’s important to know how women in Turkey get into crypto, one of the things KuCoin found out in its report on the country. More specifically, they are almost as many as men in the trading and investing field. 47% of investors and 63% of people who want to learn more about crypto are women.
People Now Interested in Crypto
People don’t care about how old they are when it comes to cryptocurrencies. In the West, Bitcoin and other assets like them seem to be aimed at millennials and younger people in general. People in Turkey who are older than 40 are becoming more interested in investing in or trading cryptocurrencies in 2021 and beyond.
Turkish people who invest in cryptocurrencies pay attention to three main things: stablecoins, derivatives, and projects in the Metaverse.
Stablecoins make sense because they give people a way to get exposure to the US Dollar in a digital format through Tether’s USDT. In addition, the USDT is a very liquid asset that can be traded on almost every trading platform in the world. It is also used for both spot and futures trading. Futures and options are also important risk management tools when dealing with volatile assets, like stocks.
Metaverse projects are a big thing all over the world, and Turkey is no different. Investors are becoming more interested in trading project tokens, even though they can be very volatile at this early stage of Metaverse development. Bloktopia is the third most traded asset on KuCoin in Turkey through 2021, and Verasity is also in the top eight in that time.
KuCoin Trading Essentials
Security and stability are important to 70% of people who took the survey. KuCoin has a good reputation when it comes to this. It came back from a hack in 2020 quickly by getting back 84% of the money that was stolen and covering the rest of the losses with its own money. Fiat deposits and withdrawals are important to 66% of people who use the service.
KuCoin accepts a lot of different currencies and a lot of different payment methods to make it easy to top up and withdraw money from an account. The user interface is important to 66% of the people who took the survey. The KuCoin user interface is simple and easy to use on any device for a smooth experience.
Many people say that the number of coins that can be traded makes a big difference. Using the KuCoin platform, users can see over 640 coins and more than 1,100 trading pairs. This gives them a lot of options. Transaction liquidity is important to 55% of users. If you want to buy or sell KuCoin, you can use a lot of different currencies and trading pairs. In addition, the platform has about $1.5 billion worth of trading every day. KuCoin is still working hard to make sure it meets all of these boxes and more so that everyone can have a great time.
The KuCoin
KuCoin is a global cryptocurrency exchange that started in September 2017. It has more than 640 different types of digital assets that you can trade. KuCoin now has more than 10 million users in 207 countries and regions around the world who use it for things like trading, borrowing money, staking, and lending. It got $20 million from IDG Capital and Matrix Partners in 2018 for Round A.
According to CoinMarketCap, KuCoin is one of the top five crypto exchanges right now. KuCoin was also named one of the best crypto exchanges for 2021 by Forbes magazine. As of 2022, KuCoin was named the best crypto exchange and app for people who like to trade.
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