75% of people have heard of crypto in Spain: Report

29 Jun 2022

New findings by the securities watchdog in Spain, the CNMV, show three out of four people have heard about cryptocurrencies.

A total of 1,500 people were surveyed as part of the report, which also showed that under 10% had actually purchased crypto as a means of investment.

The report was commissioned by the CNMV, the National Securities Market Commission, and undertaken by ‘Grupo Analisis e Investigacion’. In the ‘Study on Cryptocurrencies and the Effectiveness of the Measures Promoted by the CNMV’, the respondents were asked if they have invested, or plan to invest in Bitcoin and other digital currencies.

An additional sample of 300 crypto investors were also polled to provide a snapshot highlighting crypto usage among investors in Spain.

The results show that 75% of people have heard about digital currencies, showing there they have a degree of penetration in the country, yet their crypto knowledge is still somewhat limited, with just 1.4% of those polled having a “deep knowledge” of crypto.

Although other reports have revealed a substantial number of people in Spain have invested in crypto over the past few years, these latest findings show just 6.8% have invested in crypto at one time, whilst over 80% said they have never invested in crypto and aren’t planning to do so.

"The profile of the investor in cryptocurrencies corresponds to that of a man with an average age of around 40 years, although with a special weight of ages between 25 and 44 years," the CNMV report states.

This report also revealed 66.3% of respondents believe cryptocurrencies present more risks compared to other investment assets, Bitcoin.com reports.