The vast majority of Poles (89%) have heard of cryptocurrencies, possibly due to the recent sudden disappearance of one of the exchanges operating in the Polish market. A lack of any knowledge on the topic is reported by about one-tenth of the population (11%). It is more common among those with basic vocational education (22%) and primary education (17%), as well as those aged 65 and over (18%). Conversely, among younger and better-educated respondents, almost everyone has heard of cryptocurrencies. Generally speaking, men are more likely to declare knowledge on this topic than women.

Have you heard about cryptocurrencies, e.g., Bitcoin or Ethereum?

About one-eighth of respondents (12%) declare having owned crypto-assets, either currently or in the past, of which half (6%) currently own them. Men, people under 45 (especially those aged 25 to 34), respondents declaring higher education, business owners, as well as students, the unemployed and others not in employment, stand out in investing in cryptocurrencies. Relatively most often, those with the highest incomes (9,000 PLN and more) have owned them.

Have you ever owned cryptocurrencies?

The motivation for acquiring cryptocurrencies is more often long-term investment or saving (44%), and less frequently the desire for quick profit and short-term financial speculation (18%). A significant percentage of those who have owned crypto-assets bought them out of interest in new technologies (30%). Few declared aims such as the ability to pay with them (5%) or transferring money without a bank (1%).

For what purpose did you buy cryptocurrencies?

We asked all respondents who know anything about cryptocurrencies whether buying them is safe. The majority (61%) believe it is not. A little over a quarter (26%) think otherwise. What are the main concerns related to trading and storing cryptocurrencies? Three issues are indicated similarly often: lack of appropriate state regulations and security (27%), high price volatility and the risk of sudden drops in the value of digital assets (25%), as well as fraud and theft that may affect investors (24%). Less frequently, the risk is associated with the complex technology behind it (10%). Only a few respondents (5%) see no risk in trading cryptocurrencies.

What do you think is the biggest risk in buying and owning cryptocurrencies?

People who have invested in cryptocurrencies especially often link the risk with high price volatility of crypto-assets. Moreover, they more often than others see no risk at all. On the other hand, those who have heard of cryptocurrencies but never owned them, in defining risk, refer more to the lack of state regulations and security and the complex technology.

What do you think is the biggest risk in buying and owning cryptocurrencies?