Just recently, the Turkish Government went ahead and banned cryptocurrencies in the country. Despite the banning of cryptocurrencies, the user base in the country is constantly growing and hitting all-time highs in the country.
Over time, the number of cryptocurrency users has been increasing constantly in the country. The report shows that the number of users in the country has increased 11 times since the year 2020. This information has been gathered through a survey. The survey was reportedly conducted by one of the cryptocurrency exchanges in Turkey known as Paribu.
The Paribu exchange announced that the survey was to find out about the awareness of cryptocurrencies in the country. Moreover, the survey conducted was also related to how the people of Turkey perceive the cryptocurrency industry.
The exchange revealed that it had Akademetre Research conduct the survey on its behalf. The survey was to collect data and information around the behavior of the citizens of Turkey around cryptocurrencies. In the survey, the question around the utility of Bitcoin was mentioned in particular to know what people have to say about it.
This is not the first survey that has been carried out by Paribu with the help of Akademetre Research. This is reportedly the second survey as the first one was held back in 2020.
In the survey conducted back in 2020, it was found out that only 0.7% of the total respondents were into cryptocurrency trading. The particular survey was conducted among over 6,000 participants, out of which only 42 or 43 people traded in cryptocurrencies.
Furthermore, the survey revealed that more than 84% of the total participants had no knowledge of Bitcoin or any other cryptocurrencies.
However, the results from the recent survey have proven to be very promising. According to data, the survey was conducted among 1,400 participants. Out of the total respondents, 7.7% of the participants have revealed that they are currently trading in Bitcoin or altcoins. This shows that the number of Bitcoin and altcoin traders in Turkey has increased 11-times since the last survey.
The survey also shows that 11% of the participants now have knowledge of cryptocurrencies. The most surprising thing about the revelation is that all of these participants are already active users of cryptocurrencies.
Paribu is currently one of the largest cryptocurrency exchanges in Turkey. It has also shared details around the growth of its user base within the span of 12 months. According to the exchange, it has experienced tremendous growth in its user base within 12 months, which has grown from 600,000 to over 4 million users.
The survey shows that 37% curiosity around cryptocurrencies and 60% high earnings are the major causes behind the Turkish using cryptocurrencies.