Study: 6 million Ukrainians own cryptocurrencies

Last year, Ukraine was ranked third in the cryptocurrency acceptance ranking by the population. According to Tripple A, a research company, the percentage of Ukrainians owning digital assets increased by more than 2% over the year. Thus, as of the beginning of 2022, 15.72% of the population, or 6 million people, owned cryptocurrencies.

The EXMO.com crypto exchange decided to find out who they are — Ukrainian crypto enthusiasts — and conducted a survey. The sample consisted of 863 people. Analysts noted that the sample is not representative of the whole of Ukraine, however, the results of the study make it possible to understand the current crypto trends in our country.

The number of male cryptocurrency owners was 93.8%, while the number of women was 6.2%. Of these, 42% are aged 35 to 44. The second largest group is people aged 45 to 54. 6.6% of respondents said they were over 55 years old.

More than 60% of crypto enthusiasts have higher education diplomas. 22.5% of the audience has only a secondary education, and 1% of the respondents have a degree. Most of those who invest in cryptocurrencies work in IT and trade. 15.9% of people are engaged in construction, and more than 10% work in marketing. Less than 1% serve in the Armed Forces. 3% of the audience said they lost their jobs after the start of the full-scale war.

62.5% of the audience earns up to $ 1 thousand per month. The second largest group receives from $ 1 thousand to $ 2999. The monthly income of 27 respondents ranges from $ 3 thousand to $ 4999, and the salary level of four more respondents exceeded $ 10 thousand.

Technology, finance, entrepreneurship and sports are the main interests of the respondents. About half of the respondents are interested in football, while 35.2% of the audience is interested in boxing. 68% of respondents practice a healthy lifestyle.

68% of the audience said that they do not bet on sports and do not play in online casinos. At the same time, 32% said they were gamblers.

As for computer and video games, the crypto audience is almost equally divided between those interested in gaming and those who do not show any interest in it. Among the games played by crypto enthusiasts, respondents identified Counter Strike, Dota, Player Unknown’s Battlegrounds, FIFA, and Grand Theft Auto.

Among social networks, Ukrainian crypto investors trust YouTube and Telegram the most. Facebook and Instagram are slightly less popular. 33% of respondents like TikTok, about 27% use Twitter on a regular basis, and about 17% use the Discord platform.

13.6% of respondents said they learned about cryptocurrencies more than 10 years ago. At the same time, only 6.6% of those who started investing immediately. Most of the respondents (26.8%) became owners of digital assets between 2015 and 2017.

One of the most popular reasons for Ukrainians to invest in cryptocurrencies is the desire to try something new. More than 46% of the audience chose this option. The number of those who bought coins and tokens as a long-term investment is somewhat lower (26.4%). In turn, 17.4% wanted to make quick money by purchasing digital assets.

More than half of the respondents (56.6%) buy cryptocurrencies with money left over after planned monthly expenses. 31.1% of respondents deliberately allocate a certain amount of money each month to purchase virtual coins. 6.8% of the audience receive their salaries in crypto, 3.2% have invested in it the proceeds from the sale of valuable assets. 2.3% of respondents took money on credit to buy cryptocurrency.

The vast majority of crypto enthusiasts perceive digital assets as a long-term investment. 28.3% of Ukrainians are engaged in trading, and 8.2% of respondents use cryptocurrencies for savings. 14% of the audience consider crypto investments to be a hobby.

None of the respondents uses a single crypto exchange — most regularly use two to five platforms. Ukrainians choose exchanges based on reliability, user-friendly interface, and the availability of interesting trading pairs. 35.8% pay attention to whether the company has licenses, 36% choose an exchange based on the size of trading fees, and 36.8% consider the prompt response of support teams. The top five cryptocurrencies stored in the wallets of Ukrainian crypto holders are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE).

46.9% of the audience has been keeping cryptocurrencies for more than a year. Almost the same number (12.1% and 11.3%) of those who do not sell their assets for six months or a quarter. 10.2% of respondents sell cryptocurrencies within a month after purchasing them. At the same time, 64% of respondents said that they are not going to sell all their crypto stocks, regardless of how much their value will drop.

What to expect from bitcoin in 2023
47.7% of Ukrainian crypto enthusiasts predict that the value of bitcoin may rise to $ 50,000 in 2023. 19.5% believe that the BTC rate will cross the $ 50,000 mark and is likely to grow to $ 100,000. The vast minority expressed confidence that the flagship asset will grow to $ 150,000 this year. At the same time, 2.7% of respondents are negative: they predict that the value of bitcoin will fall below $ 10,000.

EXMO.com summarized that the number of crypto investors in Ukraine is growing every year. Despite a very difficult year for all citizens of our country, Ukrainians remain optimistic about their investments in crypto: they believe that bitcoin will go up, and after fixing their profits, they do not plan to leave the crypto market forever.

During Russia’s full-scale invasion and military aggression against Ukraine, society has come to appreciate the biggest advantage of cryptocurrency transfers: they can be made at any time and anywhere in the world. In the first three months of the war alone, Ukraine received $ 125 million in cryptocurrency aid, and it continues to flow in.