A study published by ING Bank, showed that the exposure and interest of europeans towards cryptocurrencies has considerably increased, with countries such as Spain, Romania, and Turkey exceeding one-third of the population interested in a future adoption.
The study included almost fifteen thousand surveys from fifteen European countries. Outside Europe, surveys were conducted in the United States and Australia.
The study provided important results regarding the significant level of exposure Europeans have to crypto, however, according to investigators, it is “a surprise” that the youngest sectors of the population have a similar level of knowledge as other age groups:
“So it’s no surprise that two in three (66%) in Europe have heard of the technology – although higher shares of males (77%) reply that they have heard of cryptocurrency than females (55%).
What is a surprise, though, is that younger age brackets – especially people aged 25-34 or 35-44 – are not much more likely to agree they have heard of cryptocurrency than other age groups.”
Another important fact is that despite the high level of exposure, only 9% of those interviewed had any crypto at the time of being questioned.
The reason for this is the lack of confidence in a new technology, which is also extremely volatile, making it risky for a significant proportion of those interviewed:
“Nearly three in 10 (29%) Europeans say they would never invest in cryptocurrency. And many see cryptocurrency as rather risky. For instance, 46% in Europe see shares as less risky than digital currencies such as Bitcoin; 24% say they’re equally risky. This may be part of why cryptocurrencies seem to have less appeal for long-term personal finance activities, such as receiving pay or saving for university, than one-off transactions.”
Previously, a similar study conducted by Finder.com elaborated more on the reasons why people find cryptocurrency unattractive. The results were as follows:
Despite this situation, the outlook is optimistic for crypts in general. A large part of the population is interested in cryptos – mostly in Bitcoin – and in countries such as Spain, Romania, and Turkey, more than a third of the population has plans to invest in Bitcoin in the future.
“We find that only about a third (35%) in Europe agree Bitcoin is the future of spending online. A similar share (32%) of respondents agree cryptocurrency is the future of investing.”