Source: Adobe Stock / Myst
A survey has found that 76% of surveyed Spaniards know about crypto – and that almost a third know details about how tokens are regulated in the country.
The study was carried out by Spain’s markets regulator, the National Securities Market Commission (CNMV), in conjunction with the data compiler Análisis e Investigación. As part of their research, the bodies spoke to 1,500 people aged 16 and 70 in the country between May and June this year.
The survey also painted a familiar picture of a typical domestic crypto investor: Most people who said they invested in coins were university-educated (almost half), upper-middle class (64%), earned over USD 3,000 a month (41%), and male (66%). And well over a third were aged 35 to 44, with the median age of 38 years and seven months.
Almost half of investors said they had put less than 5% of their total capital in cryptoassets, although a sizeable minority (4.5%) said they had invested half or more of their worth in bitcoin (BTC) and other tokens.
Over one in 10 of all the men surveyed said they were crypto investors, along with just over 3% of the women.
In terms of regulation, 32% said they “are aware of the current situation in terms of regulation and cryptocurrency supervision.” But almost half said they were in the dark about the matter. And the remaining 20% said they believed some regulations were in place – although they were unsure about their nature.
There were also fascinating geographical insights: Almost a quarter of crypto investors were based in the capital Madrid, with large numbers of investors also living in the traditionally wealthy Catalonia and the Valencia regions. But there was also a surprising result: 14% of investors were residents of the southern region of Andalusia – historically the poorest part of Spain.
Among non-investors, men were far more likely to know about crypto than women, the survey found – but knowledge did not really vary across age groups. Almost a third of respondents claimed that they had first heard about coins from family members and friends.
For the regulator, however, the level of public awareness in crypto regulation leaves something to be desired. The CNMV wrote:
“Forty percent of those surveyed indicated that they remember warnings made about crypto and issued by the [central] Bank of Spain, the government, the European Central Bank, or the CNMV.”