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recent survey conducted by Paribu highlights a notable trend in Turkey: an increasing preference for cryptocurrency over traditional investment options such as stocks and real estate. The "2024 Cryptocurrency Awareness and Perception Survey" involved interviews with 2,002 individuals familiar with crypto and 541 active traders.

    While gold remains the top investment choice among Turkish investors, cryptocurrencies have gained traction as the third most favored asset class, following foreign currency. According to the survey findings, three out of ten investors view digital currencies as a viable investment, positioning it ahead of real estate, which has seen a decline in popularity from 30% in 2023 to 26% this year.

    The survey also reveals that awareness of crypto in Turkey has surged, with nearly 99% of respondents having heard of digital assets. This marks a significant jump from previous years, with awareness recorded at just 16% in 2020 and reaching 70% by 2021 during the crypto market boom. However, despite high familiarity with digital currencies, understanding of blockchain technology remains limited, with 72% of respondents admitting they lack knowledge about it.

    The gap in technical knowledge suggests that while there is a strong interest in cryptocurrency as an asset, the foundational technology that powers it is not as well understood, indicating an area for potential growth in digital literacy and education. The survey results highlight a shift in the financial strategy of Turkish investors, who appear to be increasingly willing to incorporate digital currency into their portfolios.

    Turkey's growing adoption and interest in digital assets are part of a broader trend in Eastern Europe, where decentralized finance activities have seen a surge in adoption. According to Chainalysis, this sector ranks third in Eastern Europe, with digital currency value flow at over $160 billion.