Turks lead cryptocurrency ownership in Europe at 1 in every 5 people

Published 28.06.2018 00:00
Updated 28.06.2018 17:58
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About one out of every five people in Turkey has invested in cryptocurrency, according to research by the Paris-based statistics firm Ipsos for the Netherlands-based ING Group.

The survey was carried out in 15 countries, namely Turkey, the U.S., Australia, the U.K., Austria, Belgium, Czech Republic, France, Germany, Italy, Luxembourg, the Netherlands, Poland, Romania and Spain between March 26 and April 6.

Accordingly, 18 percent of Turkish people hold cryptocurrencies, doubling Europeans at 9 percent. The research also shows that only 8 percent of the Americans hold cryptocurrency while this rate is at 7 percent for Australians.

The survey found that 53 percent of Turks believe cryptocurrencies will be the preferred method of payment for online transactions in the future and 51 percent believe cryptocurrency values will rise within in a year. With expectations this high, 45 percent of Turkish people said that they will likely invest in cryptocurrencies.

Europeans were not as optimistic as Turkish people, as only 35 percent of believe that cryptocurrency prices will rise in the following year while only 25 percent expressed interest investing in cryptocurrencies.

With regards to cryptocurrency awareness, Austria had the highest level among others with 79 percent and Australia had 70 percent, Europe 66 percent and the U.S. 57 percent, respectively.

However, one metric was the same for all the countries throughout the research: all of the participants agreed that cryptocurrencies were much riskier investments when compared to conventional investment methods.

Considering investment advice or information, around 27 percent of the participants revealed that they trust specialist sites on making cryptocurrency investment, 21 percent preferred financial advisors and only 8 percent relied on the input of family or friends.

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