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Activity Number:
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63
- Cryptocurrency Surveys: Challenges and Results from Central Banks
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Type:
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Topic Contributed
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Date/Time:
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Sunday, July 28, 2019 : 4:00 PM to 5:50 PM
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Sponsor:
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Survey Research Methods Section
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Abstract #304501
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Title:
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Ownership and Purchase Intention of Crypto-Assets – Results from an Austrian Survey
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Author(s):
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Helmut Stix*
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Companies:
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Oesterreichische Nationalbank
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Keywords:
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crypto-currencies;
crypto-assets;
Bitcoin;
trust;
financial literacy;
consumer survey
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Abstract:
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The paper employs a survey among Austrian consumers to study ownership and purchase intentions of crypto-assets. About 1.5% of Austrians own crypto-assets and about 5% can be viewed as potential adopters. Both owners and potential adopters, on average, have higher financial knowledge and are more risk tolerant than the respective comparison groups. Distrust in banks or in conventional currencies is not found to be an important driver. 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.
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Authors who are presenting talks have a * after their name.
