- Report shows that many female investors are more interested in improving their own living standards than those of their families
- Chinese investors are more confident in the crypto industry with investments by 37% of the population ranging between $50,000 and $500,000
- Strict laws and declining crypto prices inhibit the adoption of crypto in some parts of the world
About 27% of female investors from the United States and Turkey use their crypto investments to fund their children’s education, according to a new report on crypto investors’ behavior and financial aspirations.
The report which was compiled and released by Bitget, a cryptocurrency exchange, is based on a survey conducted on over 1,500 participants from 20 countries, including Europe, China, Japan, South Korea, and Turkey, as well as some English-speaking nations.
According to the report, nearly half of crypto users invest in crypto and digital assets with the goal of improving their personal living standards. More specifically, investors from South Korea, Canada, and Turkey had the highest demand for improving personal living standards, with percentages of 46%, 44%, and 41% of the responses respectively.
In contrast, about 36% of crypto users, particularly from Malaysia and Taiwan, were more interested in raising the living standards of their entire families instead of their personal standards.
The survey also revealed that generally, in comparison to their male counterparts, female investors often show a larger interest in cryptocurrency investments with the goal of enhancing the financial circumstances of their entire families.
One notable exception is South Korea, where just 12% of female investors share the 17% of male investors’ goal to use cryptocurrency assets to better their family’s financial status. Similarly, in South Korea and Japan, only 5% and 4% of female investors respectively used their crypto investments to finance their children’s education, compared to 27% in the US and Turkey.
When it comes to the amount invested, Users from China displayed the highest level of engagement in quantities. Based on the report, 18% of Chinese crypto holders invest between $50,000 and $100,000 whereas another 19% invest between $100,000 and $500,000 in cryptocurrency assets.
These massive investments are despite the fact that the Asian country banned crypto trading in September 2021. Chinese citizens can still own cryptocurrencies and they bypass the ban on trading them by using VPNs. Additionally, Chinese nationals living abroad are also exempt from the prohibition.
In comparison to China, users in Europe, Turkey, and South Korea show considerably lower levels of participation in terms of their investment amounts. The report shows that users in Europe allocated 51% of investments, 49% in Turkey, and 46% in South Korea, respectively. However, these allocations only range between $1,000 to $10,000, making them less than China’s investment.
Crypto Adoption Across the Globe
While the crypto industry value continues to grow tremendously year-by-year, crypto adoption by new investors as well as interest in digital assets has stalled in some parts of the world. This is mainly due to stricter laws and regulatory uncertainty as well as declining prices.
According to a report published by the Bank of Canada, for instance, the number of Canadian adults who hold cryptocurrency declined from 2021 to 2022 by three percentage points. “Investors did not appear to shift out of Bitcoin and into other crypto assets, as we observe decreased ownership of altcoins,” the Bank of Canada stated. However, in other parts of the world, there is still a blooming interest in crypto. 99% of Nigerians, based on a ConsenSys report, said they were aware of digital assets, and 90% of those polled said they planned to invest in cryptocurrencies in the coming year.