Cryptocurrency in Ireland

High Awareness, Low Ownership of Cryptocurrency in Ireland

In Ireland, cryptocurrency has caught the attention of many, though not everyone is on the same page about its potential. Around 37% of people are familiar with the concept of cryptocurrency like Bitcoin or Ethereum, but when it comes to actual ownership, only 25% have taken the leap to own or use it. This points to an interesting gap where awareness is relatively high, but practical engagement remains limited. A closer look reveals that a large portion has never owned or used cryptocurrency.

Low Interest and Adoption Barriers

Interestingly, only 17% of people are interested in learning more about cryptocurrencies, even though they don’t own any. This contrasts sharply with the 57% who simply aren't interested in cryptocurrencies at all. The remaining portion seems to have reservations, likely due to skepticism or concerns about the risks involved, making them cautious or disengaged. The lack of widespread enthusiasm could be linked to the perceived barriers many face, with the most significant one being a lack of understanding. This is where over half of respondents pointed to a knowledge gap as the main hurdle to adoption. Security concerns followed closely behind, further reinforcing the importance of trust in this emerging technology.

Bitcoin Leads and Trusted Exchanges Are Preferred

When it comes to the coins themselves, Bitcoin, being the most widely recognized cryptocurrency, leads the charge. A deeper dive into user behavior shows that the platforms people are most comfortable with for trading cryptocurrencies tend to be the well-known ones. Coinbase leads the way, with Binance coming in second, while eToro and Revolut are used by smaller but still significant portions of the population. These exchanges are familiar names, which could explain their popularity and the level of trust they have built among Irish cryptocurrency users.