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<p><strong>With the Turkish lira currently suffering more than a 50% loss in purchasing power against the dollar, more and more Turks are turning to crypto to protect themselves from their own currency.</strong></p><h2 id="header-0">A Way Out Of Fiat Currency</h2><p>With their economy in tatters, Turks are looking for a way out of the fiat monetary system and a seemingly inept government that is failing them horribly.</p><p>As many in the West would testify, an inflation rate of more than 2% means hardship and a constant erosion of wealth. More than 50% inflation must be more than flesh and blood can bear, so Turks are putting their wealth into the very few stores of hard money that exist.</p><p>Traditionally these have always been gold and silver. However, cryptocurrencies have also emerged as a hedge against inflation and debasement of currencies.</p><p>Even though the vast majority of cryptocurrencies are probably poor stores of value, the likes of bitcoin and ethereum have been proving their worth over the last several years.</p><h2 id="header-1">Crypto Investment Growing Rapidly</h2><p>According to the <a href="https://drive.google.com/file/d/18uoc4-PJmZ36K9ub8UIdacc_OnjS7ajn/view?pli&#61;1" rel="noopener noreferrer nofollow">15th report by Kucoin</a> in a series of reports on how crypto is impacting on Turkish people, more than half of the population between the ages of 18 to 60 are now invested in crypto.</p><p>The number of Turkish investors is increasing rapidly, even during the current downturn in the crypto market. Additional crypto investors are primarily coming from the younger generation with 48% between the ages of 31 to 44, and 37% between the ages of 18 to 30. 36% of this younger group have invested an average of more than 100,000 Turkish lira ($3,743).</p><p>In a survey carried out by Kucoin on the motivations for investing in crypto, the following were cited by Turkish investors:</p><ul><li>Future wealth - 58%</li><li>Value storage - 37%</li><li>Ease of transfers - 34%</li><li>Portfolio diversification - 25%</li><li>Quick profit and excitement - 17%</li></ul><h2 id="header-2">A Good Level Of Crypto Education</h2><p>The fact that most of those surveyed invested in crypto for long-term wealth says much about the parlous state of the mismanaged and grossly unfair Turkish lira and a growing belief in the private money that is crypto.</p><p>Turkish investors also appear to be better educated in crypto, given that an average of 71% invest in bitcoin, 45% in ethereum, and 33% in stablecoins. A far fewer number are putting their money into the uncertainty of the vast majority of altcoins.</p><p><em>Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</em></p>

More Than Half Of Adult Turks Seek Inflation Hedge In Crypto

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