What the Norway crypto adoption survey 2023 tells us
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Loading... - Ramos Daniella
- 27 Apr 2023
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A recent survey on crypto adoption in Norway reveals a decline in the number of Norwegian adults owning cryptocurrencies, from 10% to 8% in 2023.
The survey, conducted by EY and K33 Research, also highlights significant demographic differences in crypto ownership and provides insights into the future adoption of digital assets in the country.
The changing landscape of crypto ownership in Norway
Despite the overall decline in crypto ownership, the survey reveals that nearly a quarter of all respondents believe they will acquire crypto within the next ten years.
Interestingly, this interest in crypto investment is concentrated among respondents aged 39 and younger. The generational divide in crypto ownership is a global phenomenon and not unique to Norway.
Currently, about 345,000 Norwegians own cryptocurrencies, a decrease of 75,000 from 2022. The gender gap has widened, with 13% of men owning crypto compared to just 4% of women. Firi, Coinbase, and Binance dominate the Norwegian crypto market.
The study compares Norway’s crypto adoption rate to global survey data and web traffic trends, finding that the Norwegian trend is in line with global patterns. However, India stands out as an outlier, with its web traffic to crypto exchanges increasing by 28%.
Magnus Jones, Nordic Blockchain and Innovation Leader at EY, believes that the decline in crypto ownership is expected due to the turbulent year for cryptocurrencies.
However, he also notes that both Norwegian and international users are becoming more advanced in their use of cryptocurrencies and are preparing for long-term growth. This includes an increased use of decentralized finance (DeFi) and non-fungible tokens (NFTs). Read More…
