Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/264818 
Authors: 
Year of Publication: 
2019
Series/Report no.: 
Working Paper No. 226
Publisher: 
Oesterreichische Nationalbank (OeNB), Vienna
Abstract: 
The paper employs a survey among Austrian households 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. Owners, on average, have higher financial knowledge and are more risk-tolerant than non-owners. Distrust in banks or in conventional currencies is not found to be an important driver of ownership. 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.
Subjects: 
crypto-currencies
crypto-assets
Bitcoin
payment
trust
financial literacy
risk
consumer survey
JEL: 
D12
D14
G11
E41
Document Type: 
Working Paper

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