A recent survey conducted by cryptocurrency exchange Bitget has revealed that approximately 50% of cryptocurrency users are investing in digital assets with the aim of enhancing their daily lives. The survey, released on October 5, highlighted that respondents in different countries had varying financial goals when it came to investing in cryptocurrencies.
In South Korea, Canada, and Turkey, around 46%, 44%, and 41% of respondents, respectively, indicated that their primary objective in investing in digital currencies was to improve their living standards. Meanwhile, in Malaysia and Taiwan, about 36% of respondents emphasized the importance of enhancing the quality of family life compared to other aspirations.
Interestingly, the survey also found that 27% of female cryptocurrency investors in the United States and Turkey were investing in digital assets to fund their children's education, in contrast to just 5% in South Korea and Japan. In terms of the amount invested, Chinese users exhibited the highest level of participation, with 18% investing between $50,000 and $100,000, and an additional 19% investing between $100,000 and $500,000. Notably, while China has prohibited cryptocurrency trading, Chinese citizens are still allowed to own cryptocurrencies and can circumvent the ban using VPNs. The ban also does not apply to Chinese citizens residing overseas.
The survey was conducted between May and August and encompassed more than 1,500 participants from 20 EU countries, China, Japan, South Korea, Turkey, the United States, and Canada. Despite ongoing adoption, some regions have seen a decline in interest in cryptocurrencies due to stricter regulations and decreasing prices. For instance, a report in August noted that cryptocurrency ownership among Canadian adults had decreased by three percentage points between 2021 and 2022. The Bank of Canada, in announcing these findings, mentioned that investors did not seem to be shifting from Bitcoin to other cryptocurrencies, as there was a decline in altcoin ownership.
