Crypto‑asset ownership is increasing across the eurozone even though their use as a means of payment remains limited, according to a new survey by the European Central Bank.
The study, based on a sample of nearly 40,000 adults in 17 euro‑area countries, found that households tend to hold both cash and crypto assets, but for different purposes. Cash is still used mainly for transactions and precautionary savings, while cryptocurrencies are held primarily as investment assets with little role in everyday payments.
The ECB noted that crypto‑asset usage remains concentrated among individuals seeking higher‑risk investment opportunities rather than those looking for an alternative payment method.
What crypto‑assets are
Crypto‑assets — often referred to as cryptocurrencies — are digital tokens that rely on blockchain technology to record and verify transactions without a central authority. Unlike traditional money issued by central banks, their value is not backed by a government and can fluctuate widely, which is why regulators classify them as high‑risk investment products rather than stable payment instruments.