August 10, 2021
Crypto popularity In Turkey
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Crypto Popularity In Turkey

Statistics show that Turkish people do not trade or use cryptocurrencies as much as previous reports revealed. So, cryptocurrency popularity in Turkey is under question.

Paribu is one of the most famous crypto exchanges in Turkey. This exchange aimed to find 1000 Turkish people, who are familiar or at least heard about crypto. For this purpose, they interviewed 6000 citizens from 12 different cities. The result revealed a major myth about the Turkish crypto ecosystem.

The previous report which conducted globally, consider Turkey as a leader in crypto adoption. But the recent report shows totally different results.

The new survey, which published by Paribu on July23, revealed that less than 1% of Turkish citizens use crypto. In fact, this research executed by Akademetre Research Company on behalf of Paribu.

Crypto popularity In Turkey; only 1% are familiar with crypto

The report revealed that out of 6253 participants of the survey only 44 people traded or own cryptocurrency. It means, that only 0.7% of Turkish citizens ever traded or bought cryptocurrencies. In addition, 97% of participants were not familiar with blockchain technology and 84% never heard Bitcoin or any other cryptocurrencies.

Many believed that 44 is too small sample in order to measure the popularity of crypto. As a result, Akademetre and Paribu arranged another survey with new sampling. This time, they chose 300 regular crypto users as the sample.

Cryptocurrency is popular among Turkish as an investment or trading option

With the new batch of 300 participants. 34% showed trust in crypto. In addition, people express interest to learn and know more about cryptocurrencies by searching online. The result shows 33.3% use internet and 17.7% use social media in order to learn more.

Most of the participants voted that cryptocurrencies are a suitable choice as an investment or trading option. Furthermore, less than one in three mentioned that using cryptos as a payment gateway or a way to transfer money.

Regardless of how it is used, cryptocurrencies have high rate of popularity among Turkish citizens. In fact, almost 72.7% of Turkish people choose cryptocurrencies for different purposes.

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