Monday, July 4

Spain Has the Highest Cryptocurrency Awareness Rate in Europe By

© Reuters – Coinbase (NASDAQ :), the global platform that aims to increase economic freedom by facilitating access to the crypto economy, has revealed that Spaniards have the highest level of knowledge about cryptocurrencies among crypto-savvy consumers in Europe . In Spain, more than two thirds of adults (80%) are familiar with this asset class; followed by the United Kingdom, where this percentage reaches 66%.

In partnership with Qualtrics, an independent research company, Coinbase surveyed more than 8,000 consumers in major European markets to better understand attitudes and knowledge of cryptocurrencies in Europe. After Spain, in the rest of Europe the percentages are uneven: the United Kingdom (66%), the Netherlands (64%), Germany (60%), Italy (58%) and France (56%).

Beyond the simple knowledge about cryptoeconomics, the results of the study highlight that cryptocurrencies have become part of the usual conversation. In fact, in the main European economies, an average of almost half (47%) of the consumers surveyed have at some point talked to friends and / or family about cryptocurrencies.

If we look at how this translates into the possession of cryptocurrencies, currently almost half (46%) of Spanish consumers who claim to be familiar with cryptocurrencies own or have owned cryptocurrencies in the past. A much higher percentage than in other European countries such as the Netherlands and the United Kingdom, with 38% and 29% respectively.

What’s more, Coinbase research points to an obvious correlation between knowledge of cryptocurrencies and investing in this asset class: As consumers gain a better understanding of digital currency, they are more inclined to acquire them. In fact, of the Spanish consumers who have invested in crypto assets, the majority (55%) plan to increase their shares in the next year.

It is important to keep in mind for the context that Spanish investors are reasonably newbies to this asset class, as more than half (64%) of those who bought cryptocurrencies did so in 2019 or later. In addition, 45% of Spanish consumers believe they have a good knowledge of cryptocurrencies beyond that, despite the fact that 51% know the more traditional assets.

Regarding the study, Coinbase has commented: “The results of our study reveal a widespread knowledge of cryptocurrency throughout Europe, which is beginning to materialize in daily conversations and in plans to increase investment in this asset class. Familiarity and interest in these assets demonstrate the potential of the sector to revolutionize the financial system, with its growing range of new services, such as payment and money transfer options for consumers. ”

“However, it is undeniable that there is still a long way to go in terms of education around digital currency for this to become a reality. Coinbase has long been committed to pushing this forward; it will continue to be our priority to continue helping customers. consumers learn more about the industry to ensure they can benefit from the markets effectively and meet their future financial needs, all safely and responsibly. “

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