By Luke - Bitcoin Professional - 01/12/2021
In a recent study on Spanish citizens investing in cryptocurrency, it was revealed that 11% of Spaniards are in fact purchasing digital and crypto assets. Interestingly, the majority of Spaniards actually lack the knowledge and risks that comes with investing in volatile products. In fact, a large percentage of the population believe that cryptocurrency is regulated and controlled. Despite the lack of information, cryptocurrency continues to grow in popularity in Spain. It's important to note that while you may have a better chance at making a lot more money faster and potentially easier than you would in other types of investments due to cryptocurrency’s volatility, you may equally a lot of your money.
Within the research, it stated that around 4.4 million Spaniards, or 11% of the population, have been regularly purchasing cryptocurrency. With 7 out of 10 of the 4.4 million are entirely unaware of the potential risks with the research stating that there is widespread ignorance on the marker regulation. Within the study, reportedly, many citizens are unsure if cryptocurrency should be taxed or not. The main reason why Spaniards are quickly adopting cryptocurrency without the risk information is due to the global investment trend. Crypto assets have been growing in popularity all over the world with many success stories of people becoming rich practically overnight. In the next stage of statistic in the study, reportedly 59% have made a profit from crypto assets with 28% seeing losses.