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

Adoption France

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Author Profile

Share

Copied

Last updated: 

October 22, 2023

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

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 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.

#FactCheck

🇫🇷 France is crypto-friendly!

Startups like @iEx_ec $RLC have full support from authorities to continue #BUIDLing and accelerate the adoption of blockchain technologies.#Web3 #DigitalTransformation #Paris 💡https://t.co/boXvhunlTA via @crypto

— Zecker 🐝 RLC (@Doru5S) April 15, 2023

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.