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ECB data shows that 5% of Portugal’s population owns crypto-assets, above the European average (4%). The highest values are observed in Slovenia and Luxembourg ( 8%).
The findings relate to a study of consumer payment types in the eurozone, in which the ECB highlights that the countries with the highest share of cryptocurrency use, whether for investments or payments, are Italy (30%), Slovenia (28%), Greece, Belgium, Portugal, Austria, Cyprus (all with 26%) and Spain (25%).
Overall, the proportion of people using cryptocurrencies for investment purposes was two to three times higher than the proportion using this medium as a form of payment.
In Portugal, cash purchases still account for the majority of transactions (64%), exceeding even the Eurozone average (59%). The volume of such transactions has dropped by 17 percentage points compared to the 2019 figures.
The majority of people surveyed (60%) consider it important to have cash as a form of payment, and also stress the importance of fiat money as a way to be aware of their spending, a way to protect their privacy, and to ensure that transactions are settled immediately.
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