What Drives Households’ Knowledge about Cryptocurrencies?

Nils Brouwer and Jakob de Haan

Working Papers from DNB

Abstract: Using data from the Dutch Household Survey, we examine what individuals know about cryptocurrencies and how they acquire information about these assets. Our results suggest that higher-educated respondents with a stronger desire to be informed use more different information sources, which results in better knowledge. However, respondents relying on social media or friends for information on cryptocurrencies do not have better knowledge. We also observe that individuals who hold cryptocurrencies are better informed. Furthermore, the longer they own cryptocurrencies, the better knowledge respondents have. Finally, we find that individuals who acquire cryptocurrencies for investment purposes demonstrate a higher level of understanding than those who buy cryptocurrencies for other reasons.

Keywords: cryptocurrencies; general public; information sources; knowledge (search for similar items in EconPapers)
JEL-codes: D12 D14 E41 G11 (search for similar items in EconPapers)
Date: 2024-02
New Economics Papers: this item is included in nep-ban, nep-fdg, nep-knm and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:dnb:dnbwpp:799

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