One in nine Swiss invest in cryptocurrencies

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• A new study by Postfinance and the Lucerne University of Applied Sciences and Arts shows that one in nine Swiss people invest in cryptocurrencies.
• There are major differences between the sexes. 26 percent of men invest, compared to just 9 percent of women.
• The motives for investing in cryptocurrencies are curiosity and interest.

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Around 11% of the population in Switzerland hold crypto assets, according to a study published this week by Postfinance and the Lucerne University of Applied Sciences and Arts. A further 6 percent have invested in crypto assets in the past and currently no longer hold such investments. The study is based on a survey of just over 3,000 people conducted in summer 2024.

There are clear differences in interest in crypto assets between the sexes: 26% of men in the survey stated that they either currently hold crypto assets or had held them in the past. For women, the figure was only 9 percent. Crypto assets are also most frequently held by representatives of "Generation Y", i.e. 28 to 43-year-olds.

24 percent in the red

The most important motive for buying cryptocurrencies is curiosity and interest in this new form of investment - at least according to 71% of respondents. However, almost half of crypto investors were also hoping for a good return. Access to the technology and the idea of decentralization were important to 20 percent. However, only a few respondents (4%) used cryptocurrencies as a means of payment.

Despite the strong growth in the value of Bitcoin and other cryptocurrencies over a period of several years, not all investors have benefited. As many as 24% of current and former investors stated that they had suffered losses with their crypto investments or were currently in the red.

Meanwhile, 43% of investors have made profits. The remaining third (32%) have apparently lost track of the sometimes high price fluctuations and were unsure in the survey whether they were in the profit or loss zone with their crypto investments.

Traditional banks with a small market share

Bitcoin, Ethereum and other cryptocurrencies are most frequently purchased via Revolut (23 percent) and Swissquote (22 percent), as the study goes on to say. However, the international crypto traders Binance (19 percent) and Coinbase (15 percent) are also used by Swiss citizens for crypto trading, as is the smartphone bank Yuh.

Traditional financial institutions are still less important in crypto trading: Postfinance's market share is 9 percent and that of "other banks" is around 10 percent. The Swiss Post financial subsidiary and several cantonal banks expanded their customer offering to include cryptocurrency trading in 2023 and 2024.