Study: One in ten households in the Eurozone owns cryptocurrency
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Answer Study: One in ten households in the Eurozone owns cryptocurrency
A study and survey conducted by the European Central Bank (ECB) estimated that 10% of households in the Eurozone hold cryptocurrency.
Wealthier families are more inclined towards buying bitcoin and altcoins.
Dutch families excel in owning cryptocurrencies:
A survey of consumer expectations from the European Central Bank determined that nearly one in ten household units in the following six European countries (Belgium, France, Germany, Italy, Spain and the Netherlands) own digital currencies.
37% of cryptocurrency holders “HODLers” admitted to investing around $1,065 in the market.
While 29% allocated between $1065 and $5,350, while 13% allocated up to $10,700.
Dutch residents seem to be the most interested in the digital asset class because 14% of Dutch households have exposure to cryptocurrency.Read:Bitcoin struggles to reclaim the $48,000 level and drop its dominance over altcoins
France is at the bottom with only 6%.
The European Central Bank estimated that young people, educated and highly financially literate individuals represent the largest segment of cryptocurrency investors, and from the study, the following:
On average, young men and women with higher education were more likely to invest in crypto assets in the countries surveyed.
With regard to financial literacy, respondents who scored either the highest or the lowest in terms of financial literacy scores were more likely to own crypto assets.
On the other hand, the European Central Bank warned that cryptocurrency is not a suitable investment tool for all investors.
As such, EU officials have called for the enforcement of rules on the sector as a matter of urgency.
What prevents people from investing in cryptocurrencies?
The results of the study showed that the number of investors in digital assets in the Eurozone is not as high as expected.
In another study conducted by the “CouponFollow” web platform, which touched on why many people stay away from the crypto market, its results were as follows:Read:China made a huge mistake by neglecting Bitcoin miners, according to “Michael Saylor”
42% of 1,100 people do not understand the value of cryptocurrencies, while 39% are concerned about increased volatility.
While 35% of cryptocurrency is a scam.
31% admitted that they did not join the crypto market due to security concerns, and 24% said they did not know how to buy cryptocurrencies.
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