A study released by the cryptocurrency exchange Bitget on the financial goals of cryptocurrency enthusiasts reveals that 44 per cent of Canadian cryptocurrency investors are focused on improving their living standards.
The exchange published the study on Thursday focusing on the investment behaviors of crypto enthusiasts across the globe.
The study was carried out between May and August 2023 and involved more than 1,500 participants hailing from 20 different nations, which encompassed Canada, Europe, Australia, Japan and Turkey.
The study examined the financial objectives and investment habits of participants from the specified countries, taking into account factors such as gender distribution and investment amounts.
The results indicated that the most common financial aspirations among global cryptocurrency investors were centered around improving living standards and overall quality of life.
Respondents from South Korea, Canada and Turkey expressed the strongest desire to enhance their personal living standards, with response rates of 46 per cent, 44 per cent and 41 per cent, respectively.
Conversely, individuals in Malaysia and Taiwan saw crypto investments as a significant avenue for bolstering their family’s income, with 36 per cent of local respondents prioritizing the improvement of their family’s quality of life over other financial goals.
Chart via Bitget
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Female investors motivated by improving family finances
An in-depth examination of gender-related factors revealed that female investors generally exhibited a greater interest in crypto investments with the intention of improving their entire families’ financial situations, as compared to their male counterparts.
However, South Korea was an exception, where 17 per cent of male investors expressed a desire to enhance their family’s financial situation through crypto investments, while only 12 per cent of female investors shared this sentiment.
Female investors in various markets, especially in South Korea and Japan, exhibit a stronger interest in improving their personal financial situations compared to their male counterparts. Specifically, 49 per cent of female users in South Korea and 41 per cent in Japan invest with this objective, while the figures decrease to 45 per cent and 30 per cent for males, respectively.
In Turkey and the US, approximately 27 per cent of female investors tend to use crypto investments to fund their children’s education. In contrast, the percentages for South Korea and Japan in this regard are notably lower, standing at 5 per cent and 4 per cent, respectively.
When it comes to the amounts invested, users from China displayed the highest level of engagement, with 18 per cent allocating sums between $50,000 and $100,000 and an additional 19 per cent investing between $100,000 and $500,000 in cryptocurrency assets. In Europe, 51 per cent of users, in Turkey 49 per cent and in South Korea 46 per cent allocated investments ranging from $1,000 to $10,000.
The study conducted by Bitget delves into the financial aspirations and investment behaviors of cryptocurrency users across diverse global markets, revealing both a variety of motives and common threads that reflect different crypto adoption stages. Continued research across user segments and regions will allow the exchange to track changing user behaviour over time and adapt the platform’s products to better cater to different users’ varying financial goals.
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