Cryptocurrency in Spain

Most Spaniards Are Unfamiliar with Cryptocurrency

In Spain, when it comes to knowing about cryptocurrency, almost half of the people aren't familiar with it at all. Smaller groups have heard of it or have some knowledge but aren’t fully sure about it. Even though many people don’t know much about it, around 42% have tried using or owning cryptocurrency. However, it’s interesting to note that the majority haven't engaged with crypto in any form. While some people have explored cryptocurrency, it hasn’t yet become mainstream enough for widespread adoption.

Cryptocurrency Adoption Remains Limited in Spain

Interest in cryptocurrency among the Spanish population reveals a nuanced picture. About 28% express an interest in learning more about it, even if they don’t own any themselves. Meanwhile, a larger group has no interest whatsoever, which aligns with the proportion of people who feel concerned about the risks associated with cryptocurrencies. This reinforces the idea that while curiosity exists, many still feel apprehensive due to perceived instability or lack of understanding.

Concerns Over Value Fluctuations Prevent Wider Crypto Adoption

The biggest challenges stopping people from using cryptocurrency include its unpredictability in value and a lack of understanding. Security concerns are also important, with a large number of respondents saying they worry about safety. While people may see the potential of cryptocurrency, many are held back by its risks, including how safe it is and how much its value can change.

Cash Remains the Preferred Payment Method in Spain

Many Spaniards still prefer traditional payment methods. About 41% say they like paying with cash when they can, and double lower percentage keep their credit card info saved on their phone. Fewer people use digital wallets or cryptocurrency to pay for things, with just 7% having used cryptocurrency for a purchase.

Binance Dominates the Cryptocurrency Platform Landscape in Spain

Binance is the most popular cryptocurrency platform in Spain, likely because people prefer to use well-known and trusted platforms when getting involved with cryptocurrency. Coinbase comes next, while smaller platforms like Revolut and Faucetpay are used by only a few.