An experienced but cautious audience and a demand for clear regulation — these are the main findings of a survey Binance conducted among users in Azerbaijan. The study covered more than 500 respondents and was carried out in August and September 2026.
Binance's audience in Azerbaijan turned out to be far more experienced than one might expect. 70.3% of respondents use or would like to use cryptocurrencies for trading, 47.7% for investments and savings, 37.4% for international transfers, and 33.1% for long-term holding of assets (HODL).
At the same time, active use does not stem from a desire for quick profits. The main goal for 69.9% of those surveyed is passive income, for another 47.9% it is preserving the value of funds, and for 32.3% it is protection against inflation. For 43.6% of respondents, cryptocurrencies are already an investment tool in their personal finances.
A more personal view of cryptocurrencies is also telling: 60.7% of respondents called them primarily a "tool of freedom," 49.7% an investment, and 41.1% a medium of exchange. Thus, the perception of digital assets goes beyond a financial instrument and takes on a broader, almost philosophical meaning for users.
Respondents quite precisely outlined their demand for change. In first place is clearer regulation (44.2%), followed by simpler interfaces (39.9%), greater trust and security (31.5%), lower fees (30.3%), and more stores and services accepting cryptocurrency (28.4%).
Institutional adoption (19.0%) and financial education (14.5%) are more significant factors for respondents when it comes to the mass adoption of cryptocurrencies.
The broadest segments for cryptocurrency use in five years, according to respondents, will be: transfers (43.1%), asset tokenization (39.9%), DeFi (37.0%), and payments (36.8%). This confirms a trend also seen in other markets in the region toward simple and clear use cases for crypto.
The survey results show that Azerbaijan's cryptocurrency market has already passed the stage of simple curiosity: the audience uses cryptocurrencies consciously and for specific practical purposes. The next step for the market could be both attracting new users and strengthening trust among the already engaged audience through clear regulation, simpler products and interfaces, and educational content in the formats and channels that users already trust.
"We see that users in Azerbaijan are already actively incorporating cryptocurrencies into their financial habits, and the next step should be broader and safer use of digital assets. Our task at Binance is to support the development of the market through safe and convenient solutions, user education, and the exchange of global expertise. Together with clear regulation, this can create a solid foundation for the further growth of the crypto industry in Azerbaijan," said Kirill Khomyakov, Binance's regional head.
