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What Drives Households’ Knowledge about Cryptocurrencies?

Author

Listed:
  • Nils Brouwer
  • Jakob de Haan

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.

Suggested Citation

  • Nils Brouwer & Jakob de Haan, 2024. "What Drives Households’ Knowledge about Cryptocurrencies?," Working Papers 799, DNB.
    • Handle: RePEc:dnb:dnbwpp:799
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    References listed on IDEAS

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    More about this item

    Keywords

    cryptocurrencies; general public; information sources; knowledge;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money

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