Two in Five People Who Won’t Invest in Crypto Cite Security as Reason

A new study has been published on the global impact of cryptocurrencies, one of the most talked about technology and finance trends of the last four years. The Crypto Investor Trends study prepared by The Motley Fool Ascent revealed that 43% of the participants said they were very or very likely to buy cryptocurrencies in the next year. The study emphasized that this figure is a new record compared to previous years.

Sharing his evaluations regarding the research, Gate.TR CEO Kafkas Sönmez said, “23% of the participants in the research, approximately one in four people, evaluate the possibility of purchasing cryptocurrencies in the next 12 months as very high. This rate was 3% in 2021. This data alone reveals the extent of global awareness about cryptocurrencies.”

Three out of five investors plan to invest more

The research also found that three out of five people who already own cryptocurrencies plan to invest more in crypto in the coming period.

When looking at the demographic breakdown, it was determined that 74% of Generation Z and Y are more willing to buy cryptocurrencies next year compared to other generations. Kafkas Sönmez, who stated that the interest in cryptocurrencies of male users belonging to Generation Y and Z in particular draws attention in the demographic breakdown of the research, said, “Although the first half of 2024 was quite strong for cryptocurrency markets, uncertainties in the second half increased the fluctuations in the market.

Despite this, we see that investors do not give up on buying cryptocurrencies and are eager to save. Crypto is seen as a new wealth and financial freedom creation mechanism, especially for the younger generation. It is meaningful for Generation Z and Y to include cryptocurrencies in their investment portfolios in this respect.”

The number of people who see it as entertainment is decreasing, the number of people who see it as an investment tool is increasing.

Gate.TR CEO Kafkas Sönmez stated that users were also asked about the purpose of their crypto investments within the scope of the research and said, “75% of the participants, in other words, three out of four people, see cryptocurrencies as an investment tool.

There may seem to be no surprise here, but when combined with other data, a meaningful story emerges. While the rate of those who see crypto as entertainment or a hobby was 45% in 2021, this rate has steadily decreased to 31% by 2024. On the other hand, it is possible to detect significant increases in the rate of those who see crypto as a means of payment and those who attribute it to investment value.

“All of this is a strong indication that the inherent value and areas of use of blockchain technology and cryptocurrencies have been accepted and understood over the years. Undoubtedly, the positive developments in regulatory frameworks both in Turkey and around the world have played a role in this progress,” he said.

“The reason for those who are skeptical is security”

Despite everything, the rate of those who are skeptical about cryptocurrencies and blockchain technologies is also considerable, Gate.TR CEO Kafkas Sönmez stated, and concluded his assessments with the following statements: The primary reason why 36% of the participants stay away from crypto is security concerns. Despite all this adaptation success, crypto is seen as a financial asset that should be approached with caution by some due to the negative deposits in terms of security. As Gate.TR, we are aware that central exchanges have important responsibilities at this point. By regularly publishing proof of reserve reports globally, we periodically verify that user assets are safe. We offer a platform where users can trade with peace of mind with state-of-the-art security solutions. As Gate.TR, we convey our competencies in security and the opportunities offered by crypto to our users at every opportunity with our community events and digital interactions. We have full faith that the upcoming editions of the report will include data that draws attention to the fact that crypto adaptation has expanded even more.”