82.9% of Spaniards will never invest and the rest do so sporadically

82.9% of Spaniards have never invested in cryptocurrencies, but your opinion about it won’t and never will. Of those who entered, most have already closed their positions and the others invest sporadically, when the value of the asset drops or when they have money left to do so.

Thus, only 4.2% of the Spanish population claims to have active investments in cryptocurrencies, 2.6% have invested in the past and the remaining 10.2% have not invested, but are studying the possibility, according to a study on crypto-currencies prepared by the National Stock Exchange Commission (CNMV).

Among current cryptocurrency investors, 41.3% have already closed their positions and only 9% invest regularly. 26% do so when they have money available to invest and 23.7% do so when the asset they are invested in goes down.

The profile of the Spanish investor in crypto passes for a 38.7-year-old man, university graduate, who has a monthly income of more than 3,000 euros and invests less than 5% of his capital.

The data published by the CNMV on the knowledge of Spaniards regarding cryptocurrencies reflects the low penetration of these assets in Spain. Only 1.4% have high knowledge of cryptocurrencies, 6.9% have medium knowledge, 22.2% understand basic fundamentals, 24.2% recognize total ignorance and the remaining 45.3% “have simply heard of it”.or have seen news”, they comment from the CNMV.

Another disturbing fact is that 48% of Spaniards are completely unaware of the regulatory situation of the universe that encompasses well-known cryptocurrencies such as bitcoin or ethereum. Only 32% are aware of the current situation regarding regulation and supervision of cryptocurrencies and the problem is even greater when it is appreciated that 20% think it is a regulated asset.

The figures also reflect the capacity of the imposing increase in suspected scams and bankruptcies of crypto-asset platforms in Spain. It is estimated that this year alone there are more than 140,000 Spaniards trapped in possible pyramid schemes and bankruptcies derivative of cryptocurrency investments with more than 20 platforms, brokers, companies and traders sued by clients with losses of up to 100,000 euros per person and collective claims exceeding 800 million euros.

Although 88% of people remember risk warnings, especially about volatility and the possibility of total investment loss, and consider the warning messages to be understood, Spanish Association of People Affected by Investing in Cryptocurrencies It has more than 7,000 plaintiffs, apart from investors who preferred to sue privately.

The study of CNMV it also reflects the Autonomous Communities where there are more cryptocurrency investors, at least with 2% representation. they stay outside Ceuta, Melilla, the Canary Islands, The La Rioja there Balearics. The podium feeds him Madridwith 23% of investors; Cataloniawith 18% of them, and Andalusiawith 14%.

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