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One in 10 French People Own Crypto, Study Finds – Is Adoption Increasing?

source-logo  cryptonews.com 20 April 2023 11:03, UTC

Ten percent of French people own cryptoassets and crypto awareness is also on the rise, a new study has found.

Per BFM TV, the study was conducted by the Association for the Development of Digital Assets (Adan) and the French branch of the accountancy giant KPMG.

The parties carried out a similar study last year and discovered that just over three quarters of respondents said they knew what cryptoassets were.

But in this year’s study, 85% of people stated that they knew about crypto.

“Cryptocurrencies are beginning to enter the lives of French people,” the media outlet noted.

As part of their research, the firms spoke to 1,976 people in the nation aged 18 and over.

They also found that there had been an “increase of 18% in the number of crypto holders compared to 2022.”

By contrast, in 2021, around 6.7% of French people owned tokens.

Jean-Noël Barrot, the Minister for Digital Transition and Telecommunications, was quoted as stating:

“Our citizens have become familiar with cryptocurrencies. It is a practice that has become part of the daily life of the French.”

French Crypto Adoption: Who Is Buying Coins?

The data shows that crypto adaption is particularly notable among “young people” and “males.”

Over 17% of respondents aged 18-35 said they owned coins.

Most respondents (64%) said that Bitcoin (BTC) was their “favorite cryptocurrency,” while Binance (39%) was their favored exchange.

In second place with 28% was Coinbase, followed by Revolut (20%).

The study also found that there had been a doubling (to 4%) of respondents who said they owned non-fungible tokens (NFTs).

NFT popularity has been increasing in the nation.

The firms stated that the “vast majority” of respondents said they had “not invested more than 10% of their savings” in crypto.

Earlier this year, Burger King’s Paris-based restaurants added phone charging stations that accept crypto payment.