Investors turn into cryptocurrencies leaving real estate and stocks behind, says the Paribu Survey by Lemuria Staff
A recent survey conducted by Paribu, one of the major Turkish crypto exchanges, has shown that appetites for cryptocurrency assets among Turkish investors are now very strong compared to traditional assets such as real estate and stocks. The “2024 Cryptocurrency Awareness and Perception” survey brings to light a changing investment landscape in Turkey, with economic factors and new technologies changing choices in unprecedented ways.
Strong Appetite for Cryptocurrency Among Turkish Investors
The survey of 2,002 people who knew about cryptocurrency, including 541 active crypto investors, showed that 30% of participants favored cryptocurrency over more conventional assets. For the remaining 56% of participants, gold remains the most popular investment choice, followed by foreign currency. Yet this digital asset preference is significant compared to last years, suggesting a more robust appetite for crypto investments in the changing economic landscape.
Traditional Investments Loses in Popularity
A favored investment in real estate has gone down remarkably from 30% in 2023 to 26% in 2024. Stocks and mutual funds have increased from 13% to 18%, but are still far behind real estate and cryptocurrency. This constitutes the general shift that is taking place within the economic and technological sphere of investments in Turkey, with cryptocurrency climbing up the ranks little by little as an alternative to well-entrenched assets.
Speed, Accessibility, and Returns Drive the Shift to Crypto
The most attractive point of the cryptocurrencies is that they promise fast, accessible and highly profitable transactions,” said Nurcan Karababa, research content manager at Paribu. She went on to say she expects crypto assets to have adoption rates even higher than those of traditional financial products, mainly due to forward-looking expectations concerning cryptocurrency’s place in the future economy. Growing institutional interest in cryptocurrency is reinforcing its position among attractive investment options.
High Awareness but Poor Knowledge of Blockchain Technology
While Turkey has a near 100% awareness about cryptocurrency, with 99% of its respondents recognizing digital assets, knowledge about blockchain technology-the backbone of cryptocurrencies-remains at a low. About 72% of its respondents do not have basic knowledge about blockchain, though awareness is gaining gradually. In 2023, 25% acknowledge knowledge in blockchain technology, up from previous years.
Rising Star of Turkey in the Global Crypto Market
At the same moment, being ranked as the fourth-largest cryptocurrency market in the world, Turkey reached the mark of about $170 billion of trade volume, outpacing large markets like Russia and Canada. What is more, the newest regulatory development-in fact, 47 crypto firms have applied for licenses in Turkey-continues to show strong institutional interest in the country. Therefore, this would position Turkey as an important participant in the global crypto landscape and a sign of further growth within this sector.
