In an intriguing move, crypto users around the globe are increasingly turning towards cryptocurrency investment, aiming to elevate their living standards. A recent survey conducted by the cryptocurrency exchange Bitget reveals this trend, discussing the motivations of more than 1,500 respondents across 20 countries.
Within its findings, a significant 46% of participants in South Korea, 44% in Canada, and 41% in Turkey identify the improvement of their lifestyle as the primary motivator behind their investments in digital currencies. Countries such as Malaysia and Taiwan see approximately 36% of respondents prioritising the enhancement of their family’s quality of life above other financial ambitions.
When breaking it down further, the rationale behind the investment varies by demographics. For instance, around 27% of female crypto investors in the U.S. and Turkey are actively planning to utilise their digital assets to fund their children’s education. In comparison, this trend is not as prominent in South Korea and Japan, with only 5% aspiring to the same.
Interestingly, considering the amount invested, Chinese users display the greatest dedication, with 18% allocating between $50,000 and $100,000, and a further 19% investing between $100,000 and $500,000 in crypto assets. This commitment comes, despite the fact that China has banned crypto trading. However, loopholes exist within the blanket ban, with Chinese nationals able to own cryptocurrencies and evade the restriction via VPN services.
But with the optimism, there’s a dark cloud on the horizon. Cryptocurrency interest appears to have stagnated in certain parts of the world because of tightening regulations and depreciating prices. A case in point comes from Canada, a one-time growing hub of digital investment that experienced a three-percentage-point drop in crypto ownership among adults between 2021 and 2022.
With all that, the global outlook remains mixed with countries like Nigeria retaining a positive perspective. A recent survey revealed a staggering 99% of Nigerians were aware of digital assets. Further, 90% of the respondents indicated future investment plans in crypto within the next year.
This offers an insightful glimpse into the ever-evolving crypto market, a battlefield where optimism clashes with regulatory hurdles and falling prices. But, undeniably, digital assets are transforming the global investment landscape. They are offering a potentially lucrative avenue for individuals worldwide to enhance their lifestyle, despite the challenges presented by individual country regulations and market volatility.
Source: Cointelegraph
