The CNMV study indicates that 75% of Spaniards have some knowledge of cryptocurrencies.
The National Securities Market Commission (CNMV) of Spain has published a study “On cryptocurrencies and the effectiveness of the measures promoted by the CNMV”, in which 1.500 people between the ages of 16 and 70 participated, and in which they found that more than 75% of the Spanish population knows what cryptocurrencies are and has some knowledge about them.
Despite being one of the countries with the highest level of knowledge on this topic, only 1,4% have a high level of knowledge about cryptocurrencies. 45,3% have only heard about them or have read some related news. On the other hand, 22,2% of respondents say understand the basics and 6,9% claim to have average knowledge. In total, Three quarters of the Spanish population has knowledge or has heard of cryptocurrencies.
Finally, 24,2% of survey participants expressed complete ignorance of the crypto world.
On the other hand, 68% of people who are aware of cryptocurrencies remember having read some warning about the risks, the possibility of losing their investment, extreme volatility or fraud related to crypto.
As for investment, only 6,8% of respondents have invested in cryptocurrencies at some pointOf these, 2,6% have invested in the past and 4,2% are still investing today. Of those who have not invested, 82,9% say they will never do so, while 10,2% say they plan to invest in cryptocurrencies at some point.
The profile of the average cryptocurrency investor in Spain is one man aged around 40 yearsIn this sense, women only represent 34% of cryptocurrency investors, while the age most likely to invest in cryptocurrencies are those between 25 and 44. Old, from 55 to 70 are the least investors.
Moreover, Most investors, almost 50% of them, invest 5% or less of their capitalIn this sense, investors tend to be very active people on social networks and use information technologies.
El 43% of cryptocurrency investors have university degrees, while only 28,7% have no higher education. On the other hand, 41% of investors have incomes of more than 3.000 euros per month.
Almost half of investors do so occasionally, especially when there are market drops or when they have extra money to invest. On the other hand, Only 9% of investors do it regularly.
As for the perception of associated risks, 66,3% of respondents say that cryptocurrencies have more risks than traditional products, while 28,7% say they have the same risks and only 5% are unsure or unaware of the risks of cryptocurrencies.
Finally, 88% of respondents remember the CNMV's warnings about the risks, especially they understand the volatility and the possibility of losing their investments, they also claim that the warnings are perfectly understandable and they understand them.
32% of those who have seen the warnings have looked for more information about cryptocurrencies and their risks on the Internet, 16% consult with family and friends, 12% do so with an advisor or manager, while almost 50% say they do nothing.
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