New survey shows that the use of cryptocurrency in Turkey has increased by 11 times in one year

A new survey by the Turkish cryptocurrency exchange Paribu shows that Turkey’s cryptocurrency user base has increased by more than 11 times in the past year.

Akademetre Research conducted the “2021 Cryptocurrency Awareness and Awareness Survey”, revealing Turkish citizens’ perceptions and behaviors of Bitcoin (Bitcoin) And other cryptocurrencies. The first survey will be completed in 2020.

An important discovery Last year’s research Only 0.7% of the more than 6,000 respondents traded cryptocurrencies in some form. Most importantly, 84% of respondents have never heard of Bitcoin or other cryptocurrencies before. These results are in sharp contrast to previous reports claiming that one-fifth of the Turkish population has been exposed to cryptocurrencies.

However, the use of cryptocurrencies in Turkey has seen a significant increase this year. Among the approximately 1,400 respondents, 7.7% stated that they use Bitcoin or other cryptocurrencies for transactions. Compared with last year, cryptocurrency users have increased by 11 times.

According to the survey, 11% of respondents who have encryption knowledge have become active encryption users. As the country’s major cryptocurrency exchange, Paribu reflects the speed of its adoption, with its number of users growing from 600,000 to over 4 million in a year.

related: How is the Turkish crypto ecosystem going through 2020?

High income (60%) and curiosity (37%) are the main motivations for Turkish citizens to use cryptocurrency. Nearly a quarter of respondents use cryptocurrency because it is based on technology. On the other hand, the increase in the use of encryption has not translated into familiarity with blockchain, because the survey shows that 80% of respondents who understand encryption have never heard of blockchain.

Commenting on the results, Paribu CEO Yasin Oral said that the price changes in the market and the exchange’s marketing activities have increased Turkey’s crypto awareness.Actions of some local exchanges Exploit users He pointed out that it had a negative impact on the survey results and added: “The trust in cryptocurrencies is increasing, but this research shows us once again that we need clear regulations to build complete trust in the user base.”