Cryptocurrency analysts name the country with the highest investment in cryptocurrency

According to a report by analysts at the KuCoin cryptocurrency exchange, 52% of Turkish residents aged 18 to 60 invest in cryptocurrencies. The figure has grown by 12% over the past 1.5 years.

KuCoin analysts periodically conduct surveys of residents of different countries regarding investments in cryptocurrencies. The penultimate time they surveyed Turkish residents (in November 2021), about 40% of respondents reported investing in digital assets.

However, over the past 18 months, the share of Turkish residents investing in cryptocurrencies has increased significantly — currently, 52% of the country’s adult population is trying to keep their savings in virtual coins.

The researchers noted that interest in cryptocurrencies in Turkey has grown amid the devaluation of the national currency and high inflation in the country. In just a few months, the lira has fallen by 50% against the dollar.

Interestingly, about 47% of respondents who invested in cryptocurrencies aged 18−30 were women. However, globally, men continue to dominate crypto investments 57% vs. 43%.

48% of all crypto investors in the country are in the age group of 31 to 44 years old. Young people between the ages of 18 and 30 are also interested in digital assets, accounting for 37% of all crypto investors in Turkey.

Visual Capitalist recently published a rating of EU countries in terms of cryptocurrency adoption. The list of countries with the highest share of citizens investing in cryptocurrencies is headed by Slovenia. According to the survey, 18% of the country’s population invests in digital assets. Croatia took second place in the ranking of cryptocurrency-friendly countries with 16%.

Luxembourg, which has a reputation as a global financial center, came in third, although it is home to only 640,000 people. In this small country, 14% of investors own cryptocurrencies. This is followed by Bulgaria and Cyprus with 13% each. The top 10 also includes Slovakia, Austria, Portugal, the Czech Republic, and Estonia.