Familiarity with Crypto and Financial Concepts: Cryptoasset Owners, Non-Owners, and Gender Differences

Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, Doina Rusu and Marcel Voia

Staff Working Papers from Bank of Canada

Abstract: In the rapidly evolving landscape of digital asset markets, measuring cryptoasset knowledge alongside financial knowledge enhances our understanding of individuals' decisions to purchase cryptoassets. Using microdata from the Bank of Canada’s Bitcoin Omnibus Survey, we measure familiarity with crypto concepts using a set of three questions covering basic aspects of Bitcoin. Familiarity with financial concepts is measured using a set of three questions covering basic aspects of conventional finance. We also consider gender differences across these measures. A novel aspect of this paper is an empirical joint analysis that allows us to consider the interrelationship between these two measures of crypto and financial knowledge.

Keywords: Central bank research; Digital currencies and fintech; Econometric and statistical methods (search for similar items in EconPapers)
JEL-codes: C81 D14 D91 G53 O51 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2024-12
New Economics Papers: this item is included in nep-fle and nep-pay
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Related works:
Working Paper: Familiarity with Crypto and Financial Concepts: Cryptoasset Owners, Non-Owners, and Gender Differences (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:bca:bocawp:24-48

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