According to a recent survey carried out by the European Central Bank (ECB), as many as 10% of households within the eurozone keep some cryptocurrency squirreled away.
Although it’s important to note that the survey was only conducted within six countries( Germany, France, Spain, Belgium, Italy, and the Netherlands), and therefore the data could be skewed, it nonetheless shows that cryptocurrencies are beginning to be seen as legitimate investment opportunities by the public at large.
This figure is part of a larger 56% percentile of households that have had contact with crypto in some form in the past.
The document also examined the economic status of those who confirmed owning cryptocurrencies. Unsurprisingly, the top 20% highest earners held the majority of crypto tokens, derivatives, and the like. Out of these, 37% said they had up to 1000 EUR worth of crypto, with only 6% owning over 30k EUR worth of crypto.
But this raises the question: do the other 44% of respondents choose to not engage with crypto, or are they unsure of how to do so? While institutional investors are increasingly hopping on board the crypto train – and countries like Germany already setting out legal groundwork to regulate institutional investment – how does the average consumer measure up?
Although cryptocurrency is, as always, a highly speculative investment – and anyone looking to invest or use crypto should perform their own research before engaging – at Veelancing we feel it’s our duty to make the option to do so readily available to anyone who wishes to do so. Which is why we offer crypto as a way to get paid for work carried out on our platform, regardless of the industry you’ve pitched your tent in.
And for those who prefer to be paid in fiat, the low fees generally associated with crypto exchanges are here for all, netting you more of your hard-earned money than anywhere else.