Young People Dominate The Crypto Space In Spain, Survey Reveals
A recent survey by Spain’s regulator, National Securities Market Commission (CNMV), shows that almost 7% of Span’s adults have invested part of their wealth in crypto. The report also revealed that most of them were from the high-income bracket while a majority of those with lower salaries are not so much interested in the assets.
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Despite this level of interest in crypto, the country is still lagging when compared with other countries’ levels of crypto adoption. A survey conducted by Gemini a few months ago ranked Indonesia and Brazil as the global leaders in crypto adoption.
In the CNMW survey, 1,500 adults were questioned to find out how many of them have invested some of their funds in digital assets. The percentage varies among different demographic groups, but 6.8% of them affirmed that they have bought Bitcoins or altcoins.
Educated Individuals Are More Attracted To Crypto Investments
In the survey majority of the respondents that answered in the affirmative are young, educated, and well-paid individuals. While 7% of those between 55 and 70 years have invested in crypto, nearly 36% of people aged 35 to 44 admitted having invested.
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In the education demographic, 43.3% of crypto investors have university diplomas. There are similarities between this demographic and the percentage of educated investors in other countries.
In terms of gender demographics, 34% of the cryptocurrency investors are males while 66% of them are females. The CNMV also discovered that 10.7% of the Spanish earning less than €1,000 a month have invested some of their funds in the crypto market. On the other hand, 41% of those earning €3,000 and above have invested in digital assets.
The crypto industry in Spain has a respectable level of regulation, as an investment in digital assets in the country is considered legal. However, Spain’s tax authorities demand between 19% and 23% of capital gains from the sale of cryptocurrencies.
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