Study Shows Canadians Invest in Cryptocurrency to Enhance Living Standards and Quality of Life

The Bitget research, conducted from May 2023 to August 2023, engaged over 1,500 participants from 20 countries, including Canada, Europe, Australia, Japan, and Turkey.

Key takeaways:

• Top Financial Goals: Crypto investors prioritize enhancing living standards and quality of life. Notably, South Korean and Canadian investors aim to boost living standards by 46% and 44% respectively. 36% of Malaysians and Taiwanese prioritize family income.
• Gender Impact: Gender influences financial goals. In English-speaking countries, 34% of female investors focus on improving the whole family’s living standards, while 30% of male investors prioritized personal finances.
• Education Funding: Education is a key goal for female investors. In Turkey and the US, around 27% of female investors use crypto investments to fund their children’s education.
• Investment Amounts: Chinese investors are active, with 19% investing over $100,000. In Australia, US, and Japan, approximately 50% invested $10,000 or below in crypto.

The research analyzed financial goals and investment behaviors among respondents from the target countries considering factors such as gender distribution and investment levels. The findings revealed that the most prevalent financial goals among crypto investors worldwide were the enhancement of living standards and the generallyelevated quality of life.

More precisely, respondents from South Korea, Canada, and Turkey exhibited the highest demand for improving personal living standards, with percentages of 46%, 44%, and 41% of the responses respectively. Australia followed with 39%, preferring to share other crypto investment motivations such as traveling abroad and improving whole family finances at 33% and 23% respectively. Whereas users from Malaysia and Taiwan view crypto investments as a pivotal means of family income, with 36% of local responses prioritizing the enhancement of their family’s quality of life over other financial aspirations.

An in-depth analysis of gender-related aspects reveals that female investors generally exhibit a greater interest in crypto investments, intending to improve entire families’ financial situations, as compared to their male counterparts. South Korea stands as an exception, with 17% of male investors expressing a desire to improve their family’s financial situation through crypto investments, while only 12% of female investors share this sentiment.

Female investors in several markets, particularly in South Korea and Japan, demonstrate a greater inclination to enhance their personal financial situations than their male counterparts. Notably, 49% of female users in South Korea and 41% in Japan invest with this goal in mind, whereas the percentages drop to 45% and 30% for males respectively.

In Turkey and the US, around 27% of female investors tend to utilize 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% and 4%, respectively.

In terms of the amounts invested, users from China showed the highest level of engagement, with 18% allocating sums between $50,000 and $100,000, and an additional 19% investing between $100,000 and $500,000 in cryptocurrency assets. 51% of users in Europe, 49% in Turkey, and 46% in South Korea 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 behavior over time and adapt the platform’s products to better cater to different users’ varying financial goals.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange that offers Copy Trading services as one of its key features. Serving over 20 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

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