Istanbul, Turkey, November 1st, 2024, Chainwire

Paribu’s 2024 Cryptocurrency Awareness and Perception Survey

In partnership with FutureBright Group, this survey reveals intriguing insights into the cryptocurrency and blockchain industries.

Maintaining its status as the most comprehensive study in the field, the survey aims to mirror developments in Türkiye’s cryptocurrency ecosystem, share valuable data with the public and stakeholders, identify expectations, motivations, and barriers surrounding cryptocurrencies, and ultimately create an accurate roadmap for future actions based on the findings.

The survey was conducted using computer-assisted personal interviews (CAPI) between July 12 and September 2 in 12 cities representative of Türkiye.

Results are categorized into four headings: awareness, experience, technology, and demographics.

Cryptocurrency Awareness Holds Steady at 99%

Türkiye’s cryptocurrency recognition has seen a dramatic surge, increasing from 16% in 2020 to nearly universal 99% in both 2023 and 2024. Meanwhile, the percentage of cryptocurrency traders rose from 25.1% to 27% compared to a year earlier.

Despite increased trading, transaction preferences remained consistent. Bitcoin dominates trader preferences at 70%, with Ethereum holding a 29% market share. Among cryptocurrency users, 75% cite rapid transactions and effortless storage/transfer as the primary benefits. When asked about their first association with cryptocurrency, one-third mentioned virtual money, while 20% immediately thought of Bitcoin.

Half of Traders Turn to Crypto Platforms for Market Intel (NASDAQ:INTC)

A key highlight from this year's survey reveals traders’ preferred sources for cryptocurrency information and market research. Social media platforms serve as the primary information source for 63% of cryptocurrency traders, while 50% prefer trading platforms for information.

Crypto Investment Trends Reveal Shifting Paradigm

Investment preferences have shifted since last year's survey. In 2024, gold is the most trusted investment at 90%, while cryptocurrencies secure third place with 29% preference.

Many Still Unfamiliar with Blockchain Technology

Despite a 3-point increase in awareness from last year, blockchain remains largely unknown. Of those aware of cryptocurrency, 72% reported no familiarity with blockchain technology. Blockchain awareness is low, with only 28% familiar with it. Cryptocurrency wallets are the most recognized blockchain-related concept among respondents, with 52% of traders recognizing it. Staking, burning, and seed phrases are among the least recognized concepts.

Male Cryptocurrency Trading Activity on the Rise

Demographic analysis reveals a key trend: newly crypto-aware men show significantly higher trading interests. Among cryptocurrency-aware individuals, 31% of men engage in trading compared to 21% of women. The 25-44 age group demonstrates the highest trading activity, with trading among university graduates rising from 30% in 2023 to 39% in 2024. The typical cryptocurrency trader is 34.7 years old.

[Click here to access the full report.]

Contact
Eray Dengiz
eray.dengiz@paribu.com

This article was originally published on Chainwire.