Crypto investment used to increase standard of living

financial freedom bitcoin

A recent survey conducted by crypto exchange Bitget has shed light on the motivations and goals of crypto investors in various parts of the world. The survey, featuring over 1,500 participants from 20 countries across the European Union, China, Japan, South Korea, Turkey, the United States, and Canada has shown that around 50% of crypto users are investing in digital assets in order to improve their everyday living standards.

In South Korea 46% of respondents, Canada 44% , and Turkey 41% , a significant number of respondents stated that their main financial goal for their cryptocurrency investment is to better their standards of living. Around 36% of survey participants in Malaysia and Taiwan also noted that they were hoping to improve their family’s quality of life through their crypto investments.

Who is investing in crypto?

The survey also highlighted regional variations in the reasons behind crypto investments. Around 27% of female crypto investors in the United States and Turkey noted that they invest in digital assets to fund their children’s education, while this goal was less important in South Korea and Japan, at just 5% each.

When it comes to the amount invested, crypto users from China showed the highest level of engagement. The survey found that 18% of respondents from China had between $50,000 to $100,000 in crypto, with 19% investing between $100,000 and $500,000 in crypto assets. It’s important to note that while China has imposed restrictions on crypto trading, Chinese nationals can still own cryptocurrencies and circumvent the ban using virtual private networks (VPNs). The ban also does not apply to Chinese nationals residing overseas.

The survey was conducted between May and August. Despite the global appeal of cryptocurrencies, the level of interest and adoption varies significantly from one region to another.

In some areas, such as Canada, crypto ownership among adults declined by three percentage points between 2021 and 2022, partly due to tightening regulations and falling prices of digital assets. On the other hand, in Nigeria, 90% expressed plans to invest in crypto within the next year.

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