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Upstart Personal Loans Review

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Upstart Personal Loans Review

1 Minute Review

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Unsecured loans begin relatively low around $1,000 and reach as high as $50,000. APR rates range between 5% and 35.99%. One main benefit of Upstart is that it requires a low minimum credit score. Upstart offers term lengths that span between 3 and 5 years. In some cases, borrowers receive funds in less than 24 hours. Upstart also allows for new borrowers with limited credit experience.

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Best For

  • Consolidating Debt

Pros

  • Up to $50,000 loans
  • No minimum credit score

Cons

  • No mobile app
  • Only 2 repayment options
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APR Up to 35.99%
Origination Fee Between 0% and 8%
Late Fee The larger of 5% of the amount due or $15
Prepayment Fee None

Upstart requires fees such as origination fees and late fees that have the potential to make it difficult for a borrower to repay a loan. Origination fees only need to be paid once during the start of the loan, but the payments are non-refundable. The fee amount is taken from the loan funds. Borrowers should take origination fees into account when asking for their total needed loan amount. 

Upstart charges late fees, which can be expensive depending on the total amount of your loan and monthly fixed payments. Upstart personal loan payments are considered late the day after payments, but its 10-day grace period may help. Upstart makes no guarantee that missing a payment won’t negatively impact your credit score. Its automatic recurring payment feature can assist in preventing missed payments and ensuring that your loan payments are made promptly. 

The annual percentage rate (APR) is a common personal loan term. The APR indicates the annual interest that’s often charged on a loan. Higher APR rates tend to be more difficult to pay off. For example, Upstart charges APR rates up to 35.99%. However, the exact APR amount varies depending on personal information such as your credit score and financial history.

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Upstart does not have prepayment fees. The lack of prepayment fees allows borrowers the freedom to make larger loan payments. An absence of prepayment fees also allows borrowers the possibility to pay off loans early without facing repercussions.

Upstart ranks high in customer service and company sentiment. The company provides accessible communication through a variety of methods such as an email address designed to assist with general support, a phone number and a mailing address. Customers have the option to reach out for assistance inside of their personal dashboard. The website provides a form section where individuals can directly send Upstart messages and questions. 

One benefit that also helps Upstart stand out from the competition is that it provides a section of its website that’s fully dedicated to borrower support. The website section allows both current and potential customers the option to troubleshoot different questions. This section of the website also proves especially helpful outside of Upstart’s typical business hours. In terms of accessibility, Upstart has general weekday hours between 6 a.m and 6 p.m. The company also provides customer assistance on Saturdays between 7 p.m. to 4 p.m. Keep in mind that the times are stated in Pacific Standard Time. The website notes that hours vary during holidays.

The company communicates and interacts with the public through social media. Upstart maintains multiple social media accounts on platforms such as Instagram and Twitter. Overall, Upstart offers strong customer service and provides prompt responses.

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Before deciding on a loan, examine websites that collect customer feedback to have a fuller understanding of how specific companies treat their customers. Customer reviews and experiences help to hint at what you might experience once you become a customer. In general, read the most recent reviews in combination with both highly ranked and lowly ranked scores. It’s important to read a variety of rankings to more accurately understand customer sentiment. 

BBB Rating A+ 
Trustpilot Score 4.9 
Benzinga’s Score 3.5
J.D. Power Rating N/A

Upstart term options range between three or five years. The company provides loans with lower total amounts, which makes it a convenient option for individuals that are interested in smaller increment loans.

Upstart offers unsecured personal loans that are typically viewed as more beneficial for a borrower than secured loans. Unsecured loans do not require collateral. For a borrower, unsecured loans are typically viewed as favorable given the lower amount of risk. 

The loans are offered at fixed rates, which provides a certain level of certainty and stability for a borrower. Fixed rates typically do not change over the life of the loan, making it easier for individuals to make the necessary and expected payments. 

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In terms of requirements, a potential borrower cannot have more than six credit report inquiries within six months. Individuals are not allowed to have filed for bankruptcy within the past year. Credit scores and financial information must remain relatively similar from the time of loan application to the time of funding. Large dips in credit scores could potentially cause a loan to be reevaluated. 

Defaulting on an Upstart personal loan has the potential to negatively impact your credit score. In addition, it will likely impact your ability to obtain other loans in the future. It’s possible to face further repercussions that are either legal or financial in nature.

Term Options 3 or 5 years 
Loan Amounts Available Between $1,000 and $50,000 

The total loan amounts typically span between $1,000 and $50,000. Personal loans can be used for a wide range of needs such as weddings and major purchases. The loans offer a heightened degree of freedom and allow borrowers to consolidate credit card debt or even pay for moving expenses. Upstart assists with a wide range of loan needs. 

Minimum Credit Score Requirement Not clearly stated, but recommended above 300

Upstart has no clearly stated minimum credit score, but it explains that it encourages individuals to have credit scores above 300 if a score is available. Upstart notes that exact credit scores have the potential to vary between different credit bureaus. Keep in mind that credit bureaus like TransUnion weigh criteria for credit scores differently than other agencies. If you feel that your information was miscalculated, then you are encouraged to reach out to the consumer credit reporting agency. 

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An offer for prequalification for an Upstart personal loan can be received in the mail. The offer provides qualifying individuals with lower rates and improved terms. However, Upstart options tend to be time-sensitive, so inquire about current promotions and prequalified offers. The stated offer must be made out to the specific recipient to be valid. During the prequalification process, information such as your credit score and financial history will be included to better predict your ability to repay a loan.

Upstart allows interested individuals the ability to quickly and efficiently check offered loan rates online. It’s possible to check your personalized rate in only a few minutes. 

The timespan to receive a personal loan typically ranges within two business days, but loans related to education can take more time.

Upstart vs. Competitors

Upstart stands out from the competition by offering personal loans that cover a wide range of needs. The loans help assist with weddings or debt consolidation or even allowing borrowers to refinance a car. The company also varies from the competition by potentially offering loans to people with low to bad credit scores. Upstart changes personal loans by using and looking at a variety of different factors to indicate a person’s ability to repay a loan. 

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Best For

Consolidating Debt

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Loan Amounts

$1,000 – $50,000

Disclosure: 1 When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus. 2 Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000). 3 The full range of available rates varies by state. The average 5-year loan offered across all lenders using the Upstart platform will have an APR of 24.95% and 60 monthly payments of $26.34 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $15,807 including a $653 origination fee. APR is calculated based on 5-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. 4 Neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.

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Loan Amounts

$1,000 – $50,000

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Origination Fee

0% – 8% of the target amount

1 Minute Review

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Unsecured loans begin relatively low around $1,000 and reach as high as $50,000. APR rates range between 5% and 35.99%. One main benefit of Upstart is that it requires a low minimum credit score. Upstart offers term lengths that span between 3 and 5 years. In some cases, borrowers receive funds in less than 24 hours. Upstart also allows for new borrowers with limited credit experience.

Best For

  • Consolidating Debt

Pros

  • Up to $50,000 loans
  • No minimum credit score

Cons

  • No mobile app
  • Only 2 repayment options
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Best For

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Comparing lenders

Loan Amounts

$5,000–$100,000

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Disclosure: See Terms*

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Loan Amounts

$5,000 – $50,000

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pre-apply securely through Figure Personal Loans’s website

APR

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Between 5.99% and 15%; autopay discount of 0.25%

Loan Amounts

$5,000 – $50,000

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APR

Between 5.99% and 15%; autopay discount of 0.25%

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Origination Fee

Between 0% and 5% (dependent on state and local laws)

Term Lengths

Fixed-rate loan terms of 3 or 5 years

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1 Minute Review

Figure’s online personal loan application process eliminates the painstaking process of following up your paperwork to scan or send to the lender. With an entirely online application, you can get your prequalification rate without impacting your credit score. You’ll get approval within a few minutes and await funding in as little as 2 business days — up to $50,000 you can direct toward what matters most.

Figure personal loans come with multiple fixed term options so you can map out your payment schedule so that it doesn’t strain your finances. Figure also offers some perks for spreading the word out to others. You’ll receive a $150 gift card for every friend you refer, and they too will get a $150 gift card when their loan funds.

Figure’s home equity line of credit lets you turn your home equity into up to $250,000 cash in as few as 5 days. Rates start as low as 2.88% APR1, and you can choose among 5-, 10-, 15- and 30-year fixed term options. You can also get up to $500,000 cash-out in mortgage refinance, all with custom rate and payment options.

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While you can easily land better rates with a higher credit score, Figure also has options for applicants with less than perfect credit. You may secure a HELOC with a credit score as low as 620 (except in Oklahoma where the minimum is 720).

Best For

  • Online loan application
  • Unsecured loans
  • Affordable loan fees

Pros

  • 100% online application
  • Quick funding
  • Competitive rates
  • Stellar customer service
  • Multiple fixed term loan options
  • A gift card for every referral (personal loan only)
  • Personal loan offered in all 50 states

Cons

  • Products not available in some states
  • Personal loans capped to $50,000
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$0 Origination Fee

Loan Amounts

$5,000 – $100,000

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Disclosure: *AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Excellent credit required for lowest rate. Rates vary by loan purpose.

Loan Amounts

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$5,000 – $100,000

Term Lengths

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Up to 240 months

1 Minute Review

LightStream was founded by its parent company Truist Financial. The company offers a wide range of traditional and innovative personal loan benefits and opportunities such as home improvement loans and fertility financing to address a wide range of needs. The company charges APRs between 3.49% and 19.99%. Benzinga offers a review of LightStream’s personal loan options that provide a variety of personal loans while minimizing additional fees and promoting financial flexibility. The company offers diverse loans with varying term lengths, APRs, and uses. For example, Lightstream offers a variety of home improvement loans that are designed to assist with specific needs such as funding for landscaping or solar panels.

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Best For

  • Potential borrowers interested in quickly funded unsecured personal loans
  • Same day funds
  • People with stronger credit scores

Pros

  • Doesn’t require collateral
  • No late fees
  • Potential same day funding
  • Self-selected funding dates
  • Offers a mobile application to ease access to loan information

Cons

  • Not recommended for bad credit scores
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Best For

No origination fees

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Loan Amounts

$5,000 – $100,000

get started securely through SoFi’s website

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Disclosure: Fixed rates from 6.99% APR to 21.78% APR. APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 3/24/22 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

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Best For

Home Improvement Loans

Loan Amounts

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$1,000 – $50,000

APR

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5.94%–35.97% (with autopay)

Loan Amounts

$1,000 – $50,000

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APR

5.94%–35.97% (with autopay)

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Origination Fee

2.9% – 8% of your loan amount

Term Lengths

24 – 84 months

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1 Minute Review

As a lender of personal loans, Upgrade offers a host of benefits, such as a wide range of financing solutions with funding times as little as a few days. Upgrade maintains options for a range of credit scores and incomes; however, APRs tend to be higher than if you were to work with a traditional bank. 

Nonetheless, it’s easier and faster to get approved for a personal loan from Upgrade than it would be at a bank or credit union. Upgrade isn’t a direct lender, so Upgrade doesn’t actually lend you the money but rather works with its network of partners to get you the funds you need. 

Upgrade features annual percentage rates (APRs) between 5.94% to 35.97% on its personal loans. And although there are origination fees, you won’t have to worry about prepayment penalties if you decide to pay off your loan early. Plus, Upgrade offers a considerable number of discounts for things like opening a qualifying checking account or setting up autopay. 

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You’ll only need a credit score of 560 to qualify for funding — making Upgrade a great choice for borrowers with fair or less-than-perfect credit. However, for the highest funding amounts and the best interest rates, you’ll want your credit score to be in as strong shape as possible 

Funding amounts range from $1,000 to $50,000, which makes these loans ideal for small- to mid-range financing needs. You can use a personal loan from Upgrade for a variety of purposes. However, funds can’t be used for gambling, investing or funding college expenses. 

Most borrowers will use Upgrade personal loans to finance their business, consolidate debt, cover medical expenses, complete home upgrades or pay for a wedding. Whatever the scenario, when you need funding fast Upgrade is a solid choice. 

Upgrade doesn’t allow co-signers on loans. 

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Upgrade, founded in 2017 and headquartered in San Francisco, California, was launched by a team of veteran fintech executives with prior experience at leading personal loan lenders, such as Lending Club. Upgrade has helped millions of people access personal loans and issued more than $10 billion to borrowers. 

Best For

  • Secured loans
  • Debt consolidation loans
  • Wide range of funding solutions

Pros

  • Fast approval process for secured loans
  • No prepayment penalties or fees
  • Wide range of options for repayment terms and funding amounts
  • 0.5 percentage point rate discount in exchange for setting up autopay
  • Funding times as little as one business day

Cons

  • Charges origination fees
  • Higher-than-average APRs
  • Not a direct lender
  • Does not accept co-signers
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Upstart ranks four out of five stars. The company offers a strong personal loan that’s expertly complemented by knowledgeable customer service. The company representatives are available to communicate both through email and phone, which allows customers to communicate and interact in a way that best fits their needs. Customers report positive experiences with customer support and overall positive sentiment in regards to the company. The strong customer service melds with a generous amount of information that’s available on the company website to better inform and educate current and future borrowers. 

However, Upstart has room for improvement in terms of additional fees such as late fees and origination fees. The origination fees reach 8% and have the potential to hinder an interested individual’s ability to fund their loan requirements if the origination fees are not properly taken into account. The company also does not allow co-signers.

Overall, Upstart maintains a personal loan that can be used in a variety of situations by borrowers with low-to-little credit history, but the company has room for growth in terms of higher APR rates and additional fees. 

Frequently Asked Questions

Upstart offers personal loans that can address a wide range of potential borrowers’ needs. Before applying for a loan, speak with a financial professional to better understand your specific position. Boosting your credit score before applying for a loan has the possibility to improve the terms and rates offered to you. Research and compare the different lenders to have a clearer perspective about the frequently offered loan amounts and common fees. Inquire about the fees before entering a loan because these mandatory payments have the ability to make a loan difficult to pay. Taking out a loan exposes a borrower to a certain level of risk and should not be entered into lightly. 

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Is Upstart a bank?

No, Upstart is not a bank. Upstart is a lending platform that helps interested customers obtain loan funds through the company’s partners. For example, Upstart partners with banks such as Customers Bank to more effectively accommodate borrower needs. 

Customers Bank was created in 2009 and designed with the community in mind. The bank provides a wide range of services for small businesses, commercial enterprises and individuals. Customers Bank offers tools such as loan and banking services to select states. For example, the funds are generally available in Massachusetts and Texas. It’s important to note that Customers Bank also has its own specific personal loans that can allow interested individuals to pay off debt or purchase larger items such as a house. The bank remains accessible to the public and maintains a visible presence on social media apps such as Instagram. 

Does Upstart need proof of income?

Upstart will likely require proof of income when verifying information during the application process. The company will probably ask for proof of your current or recent income. Upstart will typically verify the information using tools such as an image of a digitally deposited check or a business invoice. The company will also ask for additional documents when verifying information related to the application process such as your W2s or your utility bill. Upstart may require additional information to be able to more effectively lend amounts to more viable loan candidates. Upstart inspects applications and can ask for more information to better clarify your financial position. The company aims to lessen its risk exposure by reviewing information about potential loan candidates to understand where applicants stand in terms of being able to repay a loan. 

Is it possible to have multiple personal loans?

Yes, Upstart makes it possible for people with current personal loans to obtain more than one loan. However, lenders such as Upstart examine your credit score and personal financial history to determine if you are a good loan applicant. Even if you recently obtained a personal loan, lenders will likely conduct their investigation into your financial situation. It’s important to note that lenders will consider your current loan when deciding if you are eligible for another personal loan. Your current loan will likely impact your debt-to-income ratio, which might deter lenders from offering you additional funds.

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Sources

  1. Upstart. “FAQ.” Accessed May 3, 2022.
  2. Customers Bank. “About Us.” Accessed May 3, 2022. 

How do you like Upstart Personal Loans?

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analysis group

Report: The Metaverse Might Contribute $320 Billion To Latam’s GDP In The Next 10 Years

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Report: The Metaverse Might Contribute $320 Billion To Latam’s GDP In The Next 10 Years

A new report indicates that the metaverse might be a significant factor in the growth of economies in Latam and the world in the coming decade. The study, issued by Analysis Group, estimates that Latam might benefit from a surge of $320 billion or an approximate 5% of its GDP, in the next 10 years. This is the biggest percentage share of GDP of the regions in the study’s projection.

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Analysis Group’s Metaverse Report

The metaverse is becoming a subject of intense focus in crypto and business at large, and many companies are already projecting the impact that it might have in several countries and areas in the future. In a recent report titled “The Potential Global Economic Impact of the Metaverse” issued by international economic consulting firm Analysis Group, the opportunities that the emergence of the metaverse could open in the next ten years are examined, assuming “adoption begins in 2022.”.

In the document, the researchers compare the rise of the metaverse with mobile technologies and examine the growth as if this new technology were to evolve in a similar way. This industry was selected “because of similarities to the metaverse in the way it combined existing and nascent innovations to fundamentally alter global technological and economic landscapes.”

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Major Latam Growth and GDP Estimates

According to the report, the metaverse and its related activities have the potential of representing 5% of the GDP of Latam in the tenth year after adoption begins (2022), contributing $320 billion to the economies of the area. The report also projects that the growth in Latam will be the biggest percentage-wise, while the APAC region would have the biggest growth volume-wise, representing more than $1 trillion of its GDP.

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Globally, the study estimates that the metaverse will generate $3.01 trillion, becoming more than 2% of the GDP of the world ten years from now. Per the report, this growth will only happen if the sector reaches its expected potential, having “far-reaching applications, with the potential to transform a wide range of economic sectors such as education, health care, manufacturing, job training, communications, entertainment, and retail.”

Other companies have also predicted the possible impact of this new activity and the economic opportunity it will present for different industries in the future. Grayscale, one of the leading cryptocurrency asset managers, estimated that the metaverse might become a $1 trillion business opportunity in the future. Goldman Sachs also predicts the metaverse will be an $8 trillion opportunity. JPMorgan has stated that this $1 trillion market “will likely infiltrate every sector.”

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What do you think about Analysis Group’s metaverse report? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Argentina

Argentinian Cryptocurrency Exchange Buenbit Announces Staff Layoffs

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Argentinian Cryptocurrency Exchange Buenbit Announces Staff Layoffs

Buenbit, an Argentinian cryptocurrency exchange, has announced a series of layoffs due to the downturn that traditional and crypto markets are currently facing. Buenbit’s co-founder and CEO, Federico Ogue, clarified that this move had nothing to do with the recent Terra ecosystem disaster and that from now on, the exchange would focus on keeping operations in countries where it already has an established presence.

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Buenbit Announces Layoffs

Buenbit, an Argentinian cryptocurrency exchange, has announced a change in its hiring strategy due to the recent downturn that the cryptocurrency and stock markets are facing. According to some reports, the company will be laying off almost half of its current workforce across the three countries where it operates, including some senior executives.

Federico Ogue, co-founder and CEO of the exchange, stated on social media that these changes were the consequence of the tech industry facing a review phase. Ogue stated:

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Given this new context, we decided to reduce our staff and pause our expansion plan to focus exclusively on operations in the countries where we are present today and maintain a self-sustaining and efficient structure.

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Furthermore, Ogue revealed that this move had nothing to do with the recent collapse of the Terra ecosystem, even though the exchange did offer Terra-related services as part of its investment portfolio. “It is a decision that we have been working on for months. It is an adjustment that is taking place throughout the startup industry,” he explained.

Expansion Plans Halted

This new strategy ends the expansion plans the company had revealed during its Series A financing round, which raised $11 million for this goal in July 2021. The company announced that its focus will be to maintain the same quality of operations in countries where it is already present.

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The company stated this was a proactive response to an upcoming problem, “in order to avoid, in the near future, the unnecessary exposure of the company to the dependence of raising a next round of investment, when the market numbers indicate that this is not the correct strategy to follow in the current context.”

Other exchanges have also announced changes in their hiring strategies due to the new direction of the global economic markets. Coinbase, a U.S.-based cryptocurrency exchange, recently noted it would slow down its hiring process to be in a better position during and after the current market downturn.

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What do you think about the layoffs announced by Buenbit? Tell us in the comments section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Central Bank

ECB Survey Finds 10% Of Eurozone Households Own Crypto Assets

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ECB Survey Finds 10% Of Eurozone Households Own Crypto Assets

One in every 10 households in six eurozone countries has acquired cryptocurrencies, the European Central Bank (ECB) has found with a new survey. While the richest are most likely to own crypto assets, poor families are not far behind, the poll indicates.

Dutch Households Lead in Terms of Crypto Ownership, ECB Survey Shows

Every tenth eurozone household has purchased bitcoin or other cryptocurrencies, according to the latest Consumer Expectations Survey conducted by the European Central Bank (ECB). Europe’s financial authorities are now trying to establish if the crypto market downturn could affect household budgets, Reuters reported.

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The results from the latest edition of the monthly poll were announced Tuesday. The study reveals that an average of 10% of the households in six participating eurozone countries hold crypto assets. Among them, the Netherlands had the largest proportion of crypto owners at 14% while France ranked last with just 6%.

Some 37% of the respondents said they were holding up to 999 euros worth of cryptocurrency (approx. $1,070 at the time of writing), the monetary authority detailed, and 29% had between 1,000 euros and 4,999 euros. Another 13% owned between 5,000 euros and 9,999 euros. The balance had invested more than that, the report unveils.

Across these nations – Belgium, France, Germany, Italy, the Netherlands, and Spain – the richest 20% of the polled were most likely to own cryptocurrencies. At the same time, a greater proportion of lower-income households hold digital assets than the segment between the two groups.

The authors of the survey have also noted that young adult males and highly educated people were more inclined to invest in crypto. “With regard to financial literacy, respondents who scored either at the top level or the bottom level in terms of financial literacy scores were highly likely to hold crypto assets,” the ECB pointed out.

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The eurozone’s central bank didn’t miss the opportunity to reiterate its stance that cryptocurrencies are unsuitable for retail investors. The regulator also called on EU authorities to urgently approve new rules for crypto assets in the 27-member bloc. The data has been published as part of ECB’s Financial Stability Review as European legislators are working to finalize the Markets in Crypto Assets (MiCA) legislation.

Tags in this story

Central Bank, Consumers, Crypto, crypto assets, Cryptocurrencies, Cryptocurrency, data, ECB, EU, European Union, Eurozone, Expectations, households, Legislation, Poll, Regulation, study, Survey

What do you think about the findings in the ECB’s Consumer Expectations Survey? Tell us in the comments section below.

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Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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