Bitcoin or cash: digital currencies in a reality test
Bitcoin, Ethereum and co.: just digital gimmicks or the future of the financial system? Cryptocurrencies polarize more than almost any other means of payment. This is shown by the first edition of the crypto barometer from the digital market and opinion research institute Marketagent. While some hope for profitable gains, others warn of risks and instability.
Cryptocurrencies are also causing a stir in Switzerland. The latest crypto barometer from Marketagent, which is based on data from almost 500 respondents, shows this: While a growing interest and greater willingness to invest is evident among younger people and men in particular, risk and security concerns remain a dominant factor.
Real estate and equities clearly ahead of crypto
If the Swiss had a hypothetical investment budget of one million francs at their disposal, only 10.6 percent of it would flow into cryptocurrencies on average. 32% of respondents would not invest a single centime in Bitcoin and co. By contrast, traditional forms of investment are much more popular: Real estate, shares and securities are the clear favorites.
Distribution of a hypothetical investment of CHF 1 million | |
Real Estate | CHF 402,000 |
Shares and securities | CHF 221,000 |
Gold and precious metals | CHF 173,000 |
Cryptocurrencies | CHF 106,000 |
Bonds | CHF 98,000 |
n = 484 || Mean values (rounded)
Attitude and knowledge: mixed picture
A good third of Swiss respondents (35%) are (very) positive about cryptocurrencies, while 27% are negative and 38% remain neutral. There is also a reluctance to trust: 42% consider Bitcoin & Co. to be trustworthy. On the one hand, a generation gap is striking: The younger the respondents, the more open-minded they are towards cryptocurrencies. On the other hand, it is interesting to look beyond the country's borders: there is still significantly more skepticism towards Bitcoin & Co. among Austria's neighbors than in this country.
The majority of Swiss people still rate their level of knowledge about cryptos as (rather) low (67%). Men and people with an above-average financial situation feel best informed. At 88%, Bitcoin is by far the best-known cryptocurrency in Switzerland. It is followed by Ethereum (49%) and Dogecoin (25%).
Mixed willingness to invest, but significantly higher than in Austria
The Swiss are also noticeably more open than their neighbors when it comes to willingness to invest: 61% of Swiss respondents could imagine investing in cryptocurrencies. By comparison, the proportion in Austria is significantly lower at 43%. Men (71%), younger respondents (Gen Z: 73%) and people with above-average financial means (71%) are particularly motivated. "In Switzerland, there is a remarkable openness towards cryptocurrencies: More than six out of ten can imagine investing. At the same time, awareness of risks such as price fluctuations and security problems remains high - cryptos therefore polarize between hope for returns and concern about stability," says Roland Zeindler, Managing Director of Marketagent Schweiz AG.
Skepticism remains
Although the Swiss population is open to Bitcoin & Co., it is aware of the associated risks: 73% of respondents see a high risk due to price fluctuations and 66% fear security problems if access data is lost. On the positive side, 51% see cryptocurrencies as a profitable investment opportunity and a good third (35%) believe they will establish themselves as a means of payment in the long term. The overall conclusion is also ambivalent: For 47%, the disadvantages of cryptocurrencies outweigh the advantages on balance, while 28% see more advantages. A quarter (25%) consider the advantages and disadvantages to be balanced.
The Marketagent Crypto Barometer shows that cryptocurrencies are no longer a marginal topic in Switzerland. They move between fascination and caution - the desire to invest meets persistent doubts about security and stability.
Source: Marketagent Switzerland
