Europe is witnessing the gradual adoption of digital assets amid the fall of the crypto market

Dublin, May 01, 2023 (GLOBE NEWSWIRE) — The “Europe Blockchain and Cryptocurrency Market 2023” report has been added ResearchAndMarkets.com’s Offering.

The use and use of digital assets is gradually increasing across Europe

In the UK, a low percentage of survey respondents claimed to own cryptocurrency as of March 2022, while revealing a large gender gap in crypto ownership. Among those who owned cryptocurrency, most preferred to own Bitcoin, followed by Bitcoin cash. The share of crypto owners in Germany was only a few percentage points higher compared to the share of crypto-curious respondents who planned to invest in crypto in the future as of 2021.

In addition, among the proportion of respondents who had already invested or traded in crypto, almost half intended to increase their investments in the next 6 months. Germany witnessed a low gender gap in crypto-curious respondents, with more than half of female respondents being crypto-curious compared to men.

While a small percentage of respondents in France had already invested in NFTs or cryptocurrency, Bitcoin remained the popular currency among those who had already invested and those who intended to invest in the future, as noted in the new report.

Additionally, compared to 2021, the percentage of adults in France who became aware of cryptocurrency increased enormously in 2022. With Bitcoin being the cryptocurrency of choice in Switzerland as of April 2022, more than half of crypto investors were interested in buying and holding crypto.

Europe saw an acceleration in the introduction of tighter regulations related to crypto

The use of cryptocurrency worldwide is gradually increasing, and Europe is no exception to this trend. In H1 2022, more than half of crypto owners surveyed indicated plans to increase their current crypto holdings in the next 12 months, with the 18-39 age group projected to be more interested in doing so compared to older generations. In H1 2022, Bitcoin and Ethereum were among the most favored cryptocurrencies, as detailed in the new report.

The story continues

However, the decline in the value of the cryptocurrency market worldwide from the spring of 2022 led to a loss of investor enthusiasm and negative movements in asset prices across Europe as well. With the fall of FTX and the bankruptcy of BlockFi, legislators in Europe agreed to establish licensing and supervision rules from 2024, as mentioned in the new report. EU authorities were of the opinion that the new crypto rulebook in Europe will enable consumer protection; maintain market integrity as well as financial stability.

Although cryptocrash affected cryptocurrency growth worldwide, Europe did not face serious consequences in the aftermath of the fall. In Europe, countries such as Cyprus were most affected by the fall of FTX, while countries such as Germany, the Netherlands and France saw limited impact due to the national regulations that saved them from experiencing a serious loss.

Questions covered:

1. What were the most owned cryptocurrencies among crypto owners in Europe as of April 2022?
2. What were the main reasons why people in Europe did not invest in cryptocurrency in H1 2022?
3. Which were the most preferred cryptocurrencies among crypto owners in Switzerland as of April 2022?
4. What were the top reasons for investing in cryptocurrency among investors in Turkey as of March 2022?

Countries covered

• Austria

• France

• Germany

• Switzerland

• Turkey

• Great Britain

Key topics covered:

Europe: Great Britain, Germany, France, Austria, Switzerland, Turkey

• Cryptocurrency Market Overview, including “Crypto Winter”, December 2022

• Share of general knowledge about cryptocurrency, by country, in % of respondents, June 2022

• Share of respondents who made a crypto investment, by channels used to make an investment, in %, June 2022

• Share of households that can own cryptocurrency, in %, 2021

• Percentage of consumers who believe cryptocurrency is the future of money, in %, February 2022

• Overview of crypto asset owners likely to change their crypto asset portfolio in the next 12 months, in %, H1 2022

• Proportion of crypto asset owners likely to change their crypto asset portfolio in the next 12 months, by age, in %, H1 2022

• Distribution of planned activities with crypto-asset holdings, in % of owners of crypto-assets, H1 2022

• Share of most owned cryptocurrencies, in % of crypto owners, April 2022

• Share of respondents who do not currently have cryptocurrency, in %, H1 2022

• Top reasons for not owning cryptocurrency, in % of respondents with no crypto holdings, H1 2022

Global trends

• Cryptocurrency Market Overview and Trends

• Share of institutional investors who invested in digital assets, in %, June 2022

• Share of institutional investors who have a positive opinion of digital assets, in %, 2021 vs. June 2022

• Share of institutional investors who found the concept of exchange-traded funds Bitcoin appealing, by region, in %, June 2022

• Overview of crypto owners who bought cryptocurrency for the first time in 2021 vs who bought it before, in %, February 2022

• Distribution of respondents who are crypto-curious, by gender, in %, February 2022

• Share of top barriers preventing cryptocurrency purchases, by region, in % of respondents, February 2022

• Cryptocurrency adoption and ownership, by country, in % of crypto owners, 2021

• Share of cryptocurrency owners who buy and hold cryptocurrency for their long-term investment potential, in %, February 2022

• Cryptocurrency Transaction Value, in USD Billion, 2018-2023f

• Total number of cryptocurrency owners, in millions, January 2022 – December 2022

• Total number of Ethereum owners, in millions, January 2022 – December 2022

• Total number of Bitcoin owners, in millions, January 2022 – December 2022

• Total number of cryptocurrency owners, by region, in millions, 2023e

• Share of merchants currently accepting cryptocurrency as a payment method, in %, March 2022

• Share of merchants planning to adopt more crypto innovations in the next 12 months, in %, March 2022

• Share of merchants planning to make innovations related to accepting cryptocurrency in the next 12 months, in %, March 2022

• Distribution of businesses with plans to create innovations related to accepting cryptocurrency, by current acceptance status, in %, March 2022

• Share of CFOs who believe holding Bitcoin is a financial risk due to volatility, in %, 2021

• Decline in the value of cryptocurrencies, by type, in %, October 2021

• Overview of crypto ATMs offering only purchase services vs. offering both purchase and sale services, in %, September 2022

• Total number of ATMs supporting different cryptocurrencies, September 2022

• Distribution of Crypto ATM Manufacturer Share, in %, September 2022

A selection of companies mentioned in this report includes

• Ally

• Amazon

• apple

• Asian Bank

• Goldman Sachs

• HSBC

• JPMorgan Chase

• MasterCard

• Meta

• Morgan Stanley

• PayPal

• Royal Bank of Scotland

• Visa

• Wells Fargo

For more information on this report, visit https://www.researchandmarkets.com/r/uw24k

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