Austrians Cautious with Cryptocurrencies

According to a survey of 2,000 participants, only about 9 percent of a hypothetical investment budget of 1 million euros would be invested in cryptocurrencies. Real estate (40 percent) and gold (24 percent) are significantly more popular forms of investment. A quarter of the respondents (26 percent) have a positive attitude towards cryptocurrencies.

Risks of Investing in Cryptocurrencies Often at the Forefront for Austrians

For many, the risks of cryptocurrencies are at the forefront. More than two-thirds (67 percent) of those surveyed by Marketagent consider this form of investment to be risky due to high price fluctuations, and another 61 percent fear cybercrime and fraud. Security risks related to the loss of access data also worry 60 percent. Overall, 47 percent see more disadvantages than advantages in Bitcoin and similar currencies, while 23 percent see more advantages. As a positive aspect, 44 percent perceive the independence from the banking system. The highest willingness to invest in crypto is shown by men (53 percent) and younger people from Generation Z (63 percent). According to the survey, these groups also feel the best informed about this form of investment - as do people with above-average financial means. In general, a good portion of the respondents (68 percent) rate their knowledge of cryptocurrencies as very or rather poor.

(APA/Red)

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