Ownership and purchase intention of crypto-assets: survey results

Ownership and purchase intention of crypto-assets: survey results

The paper employs surveys among Austrian households to study ownership and purchase intentions of crypto-assets. About 1.6% of Austrians own crypto-assets and about 5% can be viewed as potential adopters. Owners, on average, have higher financial knowledge and are more risk-tolerant than non-owners....

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Bibliographic Details
Published in:Empirica Vol. 48; no. 1; pp. 65 - 99
Main Author: Stix, Helmut
Format: Journal Article
Language:English
Published: New York Springer US 01-02-2021
Springer Nature B.V
Subjects:
Assets
Banking
Econometrics
Economics
Economics and Finance
European Integration
Fraud
Households
Industrial Organization
International Economics
Internet
Macroeconomics/Monetary Economics//Financial Economics
Original Paper
Owners
Ownership
Payments
Polls & surveys
Public Finance
Theft
Financial literacy
Crypto-assets
Payment
E41
D12
D14
G11
Bitcoin
Risk
Consumer survey
Crypto-currencies
Trust
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Summary:The paper employs surveys among Austrian households to study ownership and purchase intentions of crypto-assets. About 1.6% of Austrians own crypto-assets and about 5% can be viewed as potential adopters. Owners, on average, have higher financial knowledge and are more risk-tolerant than non-owners. Distrust in banks or in conventional currencies is not found to be an important driver of ownership. Intentions to adopt are strongly affected by profit expectations and by beliefs that crypto-assets offer advantages for payments—most adopters or potential adopters hold both beliefs. Perceptions of high volatility or the risk of fraud and online theft dampen the demand for crypto-assets.
ISSN:0340-8744
1573-6911
DOI:10.1007/s10663-020-09499-x