Turkey cryptocurrency market dominated by men, reveals study
The country stands among the top five crypto markets in the world
By Amit Srivastava
A new study on gender-wise
knowledge of cryptocurrency conducted in Turkey revealed that more than 60% of women don’t have
knowledge of digital currency and they are not using this platform as an investment
tool. At the same time, around two-thirds of men have medium and high-level knowledge
of cryptocurrency.
It is important to
mention here that Turkey is among the top five countries in the world on the cryptocurrency
market with around 5 million cryptocurrency platform accounts. Despite
a good penetration, women in the country are not showing much interest in digital
currency.
The Turkey government in
April 2021 banned crypto as a form of payment. However, it is legal to possess
or hold crypto assets. But the regulatory body of the country reiterates that a crypto
is a form of evasion for capital controls and taxes.
The
data obtained through a computer-aided survey by researchers Ozan Akadur and Çağla
Gül in Turkey revealed that there are differences of behavioral and
psychological among men and women with respect to cryptocurrency investment. While
men are risk-taking, women avoid this. The study also revealed that women do
not try different investment tools and this leads to lower-income. This has also
resulted in a low level of knowledge about crypto. The Journal Business,
Economics, and Finance accepted the study.
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