Cryptos Cryptocurrencies: One in nine Swiss show interest
A new study shows that cryptocurrencies are bought in Switzerland primarily out of curiosity and less for reasons of return. Men and younger generations are particularly interested in digital currencies.
A recent study conducted by Lucerne University of Applied Sciences and Arts on behalf of Postfinance shows that one in nine Swiss people invest in cryptocurrencies. The focus here is less on returns and more on curiosity.
However, general interest in crypto investments is rather low in Switzerland. According to the results published on Friday, only just under 8% of respondents are "rather strongly" or "very strongly" interested in digital currencies. Over 80 percent of the population have not yet invested in crypto assets.
The best-known cryptocurrencies in Switzerland are Bitcoin, with 87% awareness, and Ether, which 35% of respondents are familiar with.
Demographic differences in crypto investments
Younger people, men and people with higher incomes show a greater interest in cryptocurrencies. For example, 17 percent of men surveyed invest in digital currencies, compared to just 6 percent of women.
With an annual income of over CHF 150,000, 22% invest in cryptocurrencies, compared to only 6% with an income of less than CHF 25,000. The GenZ (13%) and GenY (18%) generations are also more strongly represented than baby boomers (4%).
Small amounts and great curiosity
The majority of investors only invest small amounts in cryptocurrencies, which indicates that many investments are more of an experimental nature. 31% of respondents hold less than 1,000 francs in digital currencies. The main motivation for investing is curiosity or interest (71%), followed by the prospect of returns (50%).
Although potential returns and diversification of the investment portfolio are not unimportant, they play a subordinate role for many investors. The most popular platforms for trading crypto-assets include Revolut, Swissquote and Binance.
The study is based on an online survey of 3017 people aged 18 to 74 living in Switzerland. The survey is representative for Switzerland in terms of age, gender, education and language region.
SDA
