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Activity Number: 63 - Cryptocurrency Surveys: Challenges and Results from Central Banks
Type: Topic Contributed
Date/Time: Sunday, July 28, 2019 : 4:00 PM to 5:50 PM
Sponsor: Survey Research Methods Section
Abstract #304501
Title: Ownership and Purchase Intention of Crypto-Assets – Results from an Austrian Survey
Author(s): Helmut Stix*
Companies: Oesterreichische Nationalbank
Keywords: crypto-currencies; crypto-assets; Bitcoin; trust; financial literacy; consumer survey

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.

Authors who are presenting talks have a * after their name.

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