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Familiarity with Crypto and Financial Concepts: Cryptoasset Owners, Non-Owners, and Gender Differences

Author

Listed:
  • Daniela Balutel

    (York University [Toronto], Bank of Canada - Bank of Canada)

  • Walter Engert

    (Bank of Canada - Bank of Canada)

  • Chris Henry

    (Bank of Canada - Bank of Canada)

  • Kim Huynh

    (Bank of Canada - Bank of Canada)

  • Doina Rusu

    (Bank of Canada - Bank of Canada)

  • Marcel Voia

    (UO - Université d'Orléans, UniBuc - University of Bucharest)

Abstract

In the rapidly evolving landscape of digital asset markets, measuring cryptoasset knowledge alongside financial knowledge enhances our understanding of individuals' decisions to purchase cryptoassets. Using microdata from the Bank of Canada's Bitcoin Omnibus Survey, we measure familiarity with crypto concepts using a set of three questions covering basic aspects of Bitcoin. Familiarity with financial concepts is measured using a set of three questions covering basic aspects of conventional finance. We also consider gender differences across these measures. A novel aspect of this paper is an empirical joint analysis that allows us to consider the interrelationship between these two measures of crypto and financial knowledge.

Suggested Citation

  • Daniela Balutel & Walter Engert & Chris Henry & Kim Huynh & Doina Rusu & Marcel Voia, 2024. "Familiarity with Crypto and Financial Concepts: Cryptoasset Owners, Non-Owners, and Gender Differences," Post-Print hal-04926461, HAL.
    • Handle: RePEc:hal:journl:hal-04926461
    DOI: 10.34989/swp-2024-48
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    References listed on IDEAS

    as
    1. Fujiki, Hiroshi, 2020. "Who adopts crypto assets in Japan? Evidence from the 2019 financial literacy survey," Journal of the Japanese and International Economies, Elsevier, vol. 58(C).
    2. Charness, Gary & Gneezy, Uri, 2012. "Strong Evidence for Gender Differences in Risk Taking," Journal of Economic Behavior & Organization, Elsevier, vol. 83(1), pages 50-58.
    3. Tabea Bucher-Koenen & Annamaria Lusardi & Rob Alessie & Maarten van Rooij, 2017. "How Financially Literate Are Women? An Overview and New Insights," Journal of Consumer Affairs, Wiley Blackwell, vol. 51(2), pages 255-283, July.
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    More about this item

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada

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