In Spain, buying cryptocurrencies is more popular than in Italy and France. Spaniards aim for high returns, while the French and Italians diversify their portfolios. Bitcoin remains the most purchased cryptocurrency. Only France believes virtual currencies won't replace fiat money in the future. Data from an OAM survey reveals key trends.
Cryptocurrency Adoption Across Three Nations
Purchasing cryptocurrencies is significantly more widespread in Spain compared to Italy and France. However, French investors allocate larger sums—up to €1 million—to virtual currency investments. These findings emerge from an OAM survey (Observatory of Agents and Mediators) comparing samples of Spanish and French citizens, with results cross-referenced against a 2022 analysis of Italian investors.
Key Survey Details:
- Sample Size: 1,450 respondents
- Countries Selected: Spain (highest crypto usage) and France (lowest usage)
- Comparative Data: Italian results from prior research
👉 Discover how cryptocurrency trends vary across Europe
Investment Motivations: High Returns vs. Diversification
- Spain: 40% of crypto-aware Spaniards have purchased digital assets, primarily seeking high returns.
- Italy & France: 30% (Italy) and 27% (France) invested, mainly for portfolio diversification.
Investment Amounts by Country:
| Country | Typical Investment Range | High-Investment Segment (>€100K) |
|---|---|---|
| Spain | Up to €10,000 (69%) | Rare |
| France | €25K–€40K (15%) | 4% |
| Italy | €0–€10,000 (59%) | Minimal |
Top Cryptocurrencies: Bitcoin Dominates
- Bitcoin: Held by 64% of French/Spanish investors and 59% of Italians.
- Ethereum: Second-most popular (23% Italy, 22% France).
- Spain: 36% diversify into altcoins beyond BTC/ETH.
Purchase Methods:
- France: 45% use peer-to-peer platforms.
- Spain: 63% prefer exchanges.
- Storage: 50% keep assets on exchanges post-purchase.
👉 Explore secure crypto exchange options
Financial Literacy and Risk Perceptions
Knowledge Scores (Out of 5):
- Italy: 3.9
- Spain: 3.8
- France: 3.7
Barriers to Entry:
- Italy/Spain: Lack of knowledge (44%/41%).
- France: Risk aversion (42%).
Risks Cited:
- Volatility Awareness: Spain (72%), France (70%), Italy (31% unaware).
- Hacking Fears: Italy/Spain (50%), France (22%).
FAQ: Cryptocurrency in Europe
Q1: Which country invests the most in cryptocurrencies?
A: France leads in high-value investments (€100K+), while Spain has broader adoption.
Q2: What’s the primary motivation for buying crypto in Spain?
A: Spaniards prioritize high returns over diversification.
Q3: How do storage habits differ?
A: Half of investors across all countries hold assets on exchanges.
Q4: Which nation is most skeptical about crypto replacing fiat?
A: 64% of French respondents doubt crypto will surpass traditional money.
Q5: Where is financial literacy highest?
A: Italy edges out Spain and France in financial knowledge scores.
Future Outlook
- France: 64% believe crypto won’t overtake fiat.
- Spain/Italy: More optimistic about crypto’s future dominance.
This analysis underscores regional contrasts in crypto adoption, risk tolerance, and investment strategies.