Crypto and financial literacy of cryptoasset owners versus non-owners: The role of gender differences

Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, Doina Rusu and Marcel Voia
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Daniela Balutel: York University [Toronto], Bank of Canada - Bank of Canada
Walter Engert: Bank of Canada - Bank of Canada
Doina Rusu: Bank of Canada - Bank of Canada

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Abstract: Abstract We measure crypto and financial literacy using microdata from the Bank of Canada's Bitcoin Omnibus Survey. Our crypto literacy measure is based on three questions covering basic aspects of Bitcoin. The financial literacy measure we use is based on three questions covering basic aspects of conventional finance (the "Big Three"). We find that a significant share of Canadian Bitcoin owners have low crypto knowledge and low financial literacy. We also find gender differences in crypto literacy among Bitcoin owners, with female owners scoring lower in Bitcoin knowledge than male owners. We do not, however, find significant gender differences in financial literacy amongst Bitcoin owners. In contrast, non-owners show gender differences in both crypto and financial literacy.

Date: 2024-03-13
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Published in Journal of Financial Literacy and Wellbeing, 2024, 1 (3), pp.514-540. ⟨10.1017/flw.2024.2⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04926441

DOI: 10.1017/flw.2024.2

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