Almost half of crypto users invest to improve living standards: report

Approximately 50% of crypto users are investing in digital assets to improve their daily living standards.

According to a new survey by crypto exchange Bitget on October 5, 46%, 44%, and 41% of respondents in South Korea, Canada, and Turkey show that improving their standard of living is their biggest financial goal when investing in digital assets. Meanwhile, 36 percent of respondents in Malaysia and Taiwan said improving their family's quality of life is more important than other aspirations.

In the US and Turkey, 27% of female crypto investors said they invested in digital assets to support their children's education, compared to only 5% in South Korea and Japan. In terms of funds invested, users from China showed the highest level of participation, with 18% allocating sums between $50,000 and $100,000, and an additional 19% investing between $100,000 and $500,000 in crypto assets. China Bans Crypto Trading, Chinese Citizens Can Still Own Crypto Currency Via VPN The ban does not apply to overseas Chinese.

The survey was conducted between May and August and included more than 1,500 participants from 20 countries in the European Union, China, Japan, South Korea, Turkey, as well as the United States and Canada.

Although adoption continues, demand for cryptocurrencies has stalled due to tightening regulations and falling prices in certain areas of the world. In the year On August 4, Cointelegraph reported that ownership among Canadian adults will decrease by three percent between 2021 and 2022. The Bank of Canada said: “While we have seen a decrease in ownership of altcoins, investors do not seem to be moving away from Bitcoin and into other cryptoassets.” announced the results of the survey.

In other corners of the world, 99% of Nigerians in a recent survey on digital asset awareness, 90% of respondents said they plan to invest in crypto within the next year.

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