Nearly 50% of Crypto Users Invest to Improve Living Standards: Study

Approximately **50% of crypto users** are investing in digital assets to **enhance their everyday living standards**.

According to a recent study conducted by the crypto exchange Bitget and published on October 5, **46%, 44%, and 41%** of respondents in **South Korea, Canada, and Turkey**, respectively, stated that **improving their living standards** is their primary financial goal when investing in digital assets. Meanwhile, around **36%** of participants from Malaysia and Taiwan emphasized that **improving their family’s quality of life** was more important to them than any other aspirations.

For **27% of female crypto investors** in the U.S. and Turkey, investing in digital assets is a means to **fund their children’s education**. In contrast, only **5%** of respondents in South Korea and Japan shared the same sentiment. In terms of investment amounts, Chinese users topped the list, with **18%** allocating sums between **$50,000 and $100,000**, and an additional **19%** investing between **$100,000 and $500,000** in crypto assets. Despite China’s ban on crypto trading, Chinese nationals can still own cryptocurrencies and bypass the ban using VPNs. The ban also does not apply to Chinese nationals residing abroad.

The survey, which took place from May to August, featured over **1,500 participants** from **20 countries** in the EU, China, Japan, South Korea, Turkey, the U.S., and Canada.

In certain regions of the world, interest in cryptocurrencies has stagnated due to **tightening regulations** and falling prices. A report by the Bank of Canada indicated that crypto ownership among Canadian adults declined by three percentage points between 2021 and 2022. The report stated, *”Investors did not appear to shift out of Bitcoin and into other cryptoassets, as we observe decreased ownership of altcoins.”*

Conversely, a recent survey found that **99% of Nigerians** are aware of digital assets, with **90% of respondents planning to invest in crypto within the next year.**

Opinion Piece by the Editor:

It is evident from the survey results that a significant portion of crypto users are motivated by the desire to improve their living standards and provide a better future for their families. As the world becomes increasingly digital, cryptocurrencies have emerged as a viable investment option for individuals seeking financial growth and stability. However, it is crucial to acknowledge the potential risks and volatility associated with this market. Therefore, it is advisable for investors to conduct thorough research and seek professional advice before diving into the crypto space. To stay updated with the latest news and developments in the cryptocurrency industry, visit Uber Crypto News.