KuCoin’s most recent report focused on the crypto trends in Turkey estimated that 52% of the locals aged 18 to 60 have already invested in bitcoin or alternative coins. The figure was 40% in November 2021, indicating that Turks have shown great interest in employing digital assets as a hedge against inflation in the past few years.

The country has been coping with severe economic issues as of late, seeing its national currency plunging to record levels against the US dollar. 

Crypto’s Growing Popularity in Turkey

Apart from observing an increased number of cryptocurrency investors in the transcontinental nation for the past year and a half, KuCoin determined that the gender gap has started decreasing, with 47% of the HODLers aged 18 to 30 being women. Overall, men remain dominant at a rate of 57%.

Younger generations are, expectedly, the most active in the crypto space. Investors aged 31 to 44 make up the majority at 48%, followed by those in the 18-30 age bracket (37%).

Almost a third of all crypto participants jumped on the bandwagon in the past three months, illustrating the people’s desire to deal with alternative financial tools to preserve their wealth amidst the current financial turbulence. 33% of investors under the age of 30 have distributed more than 100,000 TL (approximately $3,800) in the market.

The inflation rate in Turkey has been among the highest across the globe lately, while President Erdogan’s controversial policies have not been of big help. In fact, his re-election as a political leader earlier this year led to another crash of the Turkish lira. 

As such, it is no wonder locals have