Familiarity with crypto and financial concepts : cryptoasset owners, non-owners, and gender differences

by Daniela Balutel, Walter Engert, Christopher Henry, Kim P. Huynh, Doina Rusu and Marcel C. Voia

In the rapidly evolving landscape of digital asset markets, measuring cryptoasset knowledge alongside financial knowledge enhances our understanding of individuals' decisions to purchase cryptoassets. Using microdata from the Bank of Canada's Bitcoin Omnibus Survey, we measure familiarity with crypto concepts using a set of three questions covering basic aspects of Bitcoin. Familiarity with financial concepts is measured using a set of three questions covering basic aspects of conventional finance. We also consider gender differences across these measures. A novel aspect of this paper is an empirical joint analysis that allows us to consider the interrelationship between these two measures of crypto and financial knowledge.

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Year of publication:	[2024] ; Last updated: December 23, 2024
Authors:	Balutel, Daniela ; Engert, Walter ; Henry, Christopher ; Huynh, Kim P. ; Rusu, Doina ; Voia, Marcel-Christian
Publisher:	[Ottawa] : Bank of Canada
Subject:	Central bank research \| Digital currencies and fintech \| Econometric and statistical methods \| Virtuelle Währung \| Virtual currency \| Zentralbank \| Central bank \| Finanztechnologie \| Financial technology \| Geldpolitik \| Monetary policy