KPMG: What is the profile of cryptocurrency enthusiasts?

A groundbreaking survey conducted by KPMG lifts the veil on the still obscure profile of cryptocurrency users, reports "Le Figaro".

In 2022, cryptocurrencies and other NFTs have already largely made their mark on the global economic system. However, the contours of these new digital currencies remain rather obscure to the average person. For the first time, a study has been conducted on the subject. Commissioned by Adan, the Association of professionals in the digital assets and blockchain technologies sector in France, and conducted by the firm KPMG, it gives a more precise idea of the profile of "crypto" enthusiasts.

The first basic observation, notes Le Figaro, is that the use of digital currencies is still fairly anecdotal in France. Only 8% of French people hold digital assets in January 2022 - mostly cryptocurrencies and, increasingly, NFTs (non-fungible tokens). Due to the complexity of the field, the practice remains the preserve of the youngest. According to KPMG, 46% of cryptocurrency buyers are under 35 years old (compared to 21% of 35-44 year olds and 10% over 66).

The French are still very wary

Another lesson learned from the study commissioned by Adan is that new investors are more cautious than one might think, especially since 37% of them declare less than 18,000 euros in annual income. 76% of them do not invest more than 10% of their savings in crypto-currencies. Conversely, only 7% invest more than half of their savings in cryptocurrencies.

But profit is not the only attraction of cryptocurrencies. 58% of their supporters believe that digital currencies are a good way to protect themselves against inflation. Other users readily cite the confidentiality of transactions (18%), their lack of trust in traditional banking institutions (12%), or the convenience of money transfers abroad. Is this enough to seduce the French on a massive scale? Not quite yet, even if the phenomenon is growing. 37% of French people surveyed said they were tempted by the principle, while the remaining 63% remained wary, if not hostile.